Bankruptcy trustee tells the Rangers to get new lawyers

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Many people thought it problematic when it was revealed several months ago that Tom Hicks was both (a) selling the Rangers; and (b) part of the ownership buying the Rangers.  Different capacities, sure, in that Tom Hicks the individual was buying from an entity — Hicks Sports Group — that Hicks just so happened to own and run, but it is the kind of thing that raises eyebrows among those who are not used to the often convoluted and incestuous world of closely-held corporations.

But public perception may not be the only problem. The trustee overseeing the Rangers’ bankruptcy has a problem with at least one aspect of the overall arrangement, and that involves the law firms.  Take it away Barry Shlachter:

U.S.
Trustee William Neary asserted that all of the work – and millions
in fees – Weil Gotshal & Manges received from team owner Tom Hicks
jeopardized the fairness and transparency expected by the
public, including Rangers fans. Attorneys for the baseball
franchise are charged with acting in its best interests, not that
of the outgoing ownership.

“Undoubtedly, Weil
Gotshal & Manges’ role evolved and shifted as events
transpired before the bankruptcy case, but it was WGM’s responsibility
to focus on the conflicts issue,” Neary said in the filing with a
U.S. bankruptcy court in Fort Worth.

Weil Gotshal denies any suggestion that it was conflicted, of course.

My view: I’m just a dumb litigator who nobody ever let near the table when a complicated deal was being negotiated, but it’s not like having the same law firm all over a transaction like this has never happened before. There are a lot of ways to guard against conflicts when you have hundreds and hundreds of lawyers you can throw at a deal, many of whom don’t even know one another.  Best practice in the world? Nah, but it’s not, in and of itself, fatal.

In light of that my guess is that there was something specifically troublesome that either Hicks or the law firm was doing during the course of this deal that raised the ire of the trustee. These things tend to get ironed out pretty quickly, however, and my guess is that the law firm problem doesn’t cause any big hiccup in a deal that has enough other hiccups.

Report: Teams have inquired with the Angels about Hector Santiago

ANAHEIM, CA - JULY 20:  Hector Santiago #53 of the Los Angeles Angels of Anaheim pitches during the first inning of a baseball game against the Texas Rangers  at Angel Stadium of Anaheim on July 20, 2016 in Anaheim, California.  (Photo by Sean M. Haffey/Getty Images)
Sean M. Haffey/Getty Images
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ESPN’s Jerry Crasnick reported on Monday that the Angels have received inquiries from multiple teams concerning starter Hector Santiago. He adds that the club is willing to listen to offers. Jon Morosi of FOX Sports and MLB Network reports that the Marlins are among the teams that have inquired.

Santiago, 28, has pitched to a 4.32 ERA with 96 strikeouts and 47 walks in 110 1/3 innings. Sabermetric statistics such as FIP, xFIP, and SIERA think the lefty has pitched even worse than his ERA indicates however, pitting 2016 as his worst performance to date.

Santiago is earning $5 million this season and will enter his third and final year of arbitration eligibility going into 2017.

We also learned earlier that, in an effort to bolster their starting rotation, the Marlins have also shown interest in Wade Miley of the Mariners and Jeremy Hellickson of the Phillies.

Prince Fielder will undergo season-ending neck surgery this week

SEATTLE, WA - JUNE 10: Prince Fielder #84 takes a swing during a game against the Seattle Mariners at Safeco Field on June 10, 2016 in Seattle, Washington. The Mariners won the game 7-5. (Photo by Stephen Brashear/Getty Images)
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The Rangers placed DH Prince Fielder on the disabled list last week due to more neck discomfort. On Friday, Fielder met with Dr. Drew Dossett, who performed spinal fusion surgery on Fielder in 2014 for a herniated disk in his neck. Dossett has recommended another procedure, so Fielder will undergo season-ending surgery this week, Jeff Wilson of the Fort-Worth Star Telegram reports.

Fielder was having a rough season, batting .212/.292/.334 with eight home runs and 44 RBI in 370 plate appearances. He played in only 42 games in 2014, but returned in 2015 looking more like his old self. Unfortunately, neck and back issues are notoriously difficult to fix. Hopefully, this upcoming procedure does the trick for Fielder.

Fielder is owed $24 million per season through 2020, with the Tigers paying $6 million of it per season.