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Mets owners catch break in Madoff settlement payments

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The Wilpon family is getting some breathing room in making their settlement payments.

The New York Mets' owners - along with their businesses and charities - have modified their agreement with the trustee looking to recover money for victims of Bernie Madoff's Ponzi scheme, according to ESPN's Adam Rubin.

Initially, the Wilpon family and Saul Katz were ordered to pay $60 million in two installments - half this week and half next year. But under the new agreement, some of the money owed has been deferred.

Instead of paying roughly $30 million this week, a first payment of $16 million is due by Wednesday, according to Rubin. The rest will be paid in four installments from 2017-20.

In January, MLB commissioner Rob Manfred announced Wilpon was appointed as chairman of MLB's Finance Committee.

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