Speaking Thursday at the Mets spring training camp, Wilpon said he was naive to invest with Madoff, a longtime friend and neighbor on Long Island.
Irving H. Picard, the trustee trying to recover money for victims of the swindle, has sued Wilpon and various family members and entities related to Sterling Equities, seeking at least $300 million.
Picard claimed they were net winners with their Madoff investments and ignored warnings that Madoff's high returns might be false.
The Wilpons have said they are victims in the scheme.
Madoff told The New York Times in a recent interview that the Mets owners "knew nothing" of his actions.