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:
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.
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.
The Mets traded centerfielder Curtis Granderson to the Dodgers for cash considerations or a player to be named later, the teams announced late Friday night. Granderson was rumored to be drawing interest from teams earlier in the week, and found a landing place after slashing .256/.360/.721 since the start of the month. In a corresponding move, the Dodgers designated right-hander Dylan Floro for assignment to clear roster space for the outfielder.
As a whole, the 36-year-old’s 2017 campaign has been a tad underwhelming. Granderson entered Saturday batting .228/.334/.481 with 19 home runs and an .815 OPS through 395 PA, and accrued 1.7 fWAR to the 5.1 fWAR he produced during his pennant-winning, MVP-contending season in 2015. Still, with under $4 million remaining on his contract, another 20+ homer season around the corner and the defensive chops to man center field, it looks like a prudent deal for the Dodgers as they continue to bulldoze their way to the playoffs this fall.
The club has yet to outline their plans for Granderson, but his addition to a crowded outfield could displace centerfielder Joc Pederson, who turned in a meager .214/.329/.415 batting line through 292 PA in 2017. It could also have ramifications for fellow veteran Andre Ethier, assuming he’s healthy enough to compete for a starting role when he comes off the 60-day disabled list in September. The Mets, meanwhile, are expected to lean more heavily on rookie outfielder Brandon Nimmo, who’s made just five starts this season after struggling to get consistent playing time on the field.
Indians’ right-hander Corey Kluber was removed from the sixth inning of his start on Friday night, bringing a streak of 14 starts with 8+ strikeouts to an unfortunate end after he sprained his right ankle. Kluber stumbled off the mound while trying to field a base hit from Eric Hosmer and was seen visibly limping as he moved to cover first base. He was allowed to stay in the game for one more batter, but quickly yielded a three-pitch single to Melky Cabrera and left the mound with head athletic trainer James Quinlan.
It was a poor ending to another strong outing by the right-hander, who delivered 5 1/3 innings of one-run, four-strikeout ball and took his 12th win of the season after the Indians amassed a nine-run lead. Postgame comments by Cleveland skipper Terry Francona suggest that Kluber isn’t facing a serious setback after sustaining the sprain, however, and might even be good to go by the time his next start comes around on Wednesday.
While the Royals escaped Friday’s loss without injury, the 10-1 drubbing pushed them 6.5 games back of the division lead and half a game behind the Twins and Angels for the second AL wild card berth. They’ll host a rematch on Saturday at 7:15 ET, with left-hander Jason Vargas set to face off against Indians’ righty Trevor Bauer.