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District Court Judge Imposes Restraining Order, Urges Mediation for Baseball team Sale

Friday, April, 24, 2015


The Binghamton Mets minor league baseball team has been prevented from putting the team up for sale via a restraining order issued by a District Court judge, who recommended the team enter into mediation with the owners of the Wilmington Blue Rocks, who claim to have a written agreement to purchase the team and to have made a $100,000 good-faith deposit. The purchase price was to be $8.5 million, and the Blue Rocks owners had picked out the new stadium they would move the team to, and had made other moves and decisions with the assumption that the deal would go through.

 

However, the owners of the Binghamton Mets later pulled out of the deal, the Blue Rocks claim, and began shopping the team and actively negotiating with other prospective buyers. The Wilmington Blue Rocks sued for breach of contract, and the restraining order was imposed as a result.

 

The Binghamton Mets owners insist that contractually the Blue Rocks had 60 days to close the deal, and when they were unable to do so the Mets were within their rights to walk away and seek other buyers, despite the deposit.

 

At a hearing, Judge David Hurd extended the restraining order preventing the Mets from selling the team and urged both sides to attempt mediation. If no settlement can be reached through that process, Judge Hurd said, he would then be prepared to issue a ruling on the breach of contract charge.