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.
Dodgers’ left fielder Andrew Toles crushed his first spring training home run on Saturday afternoon. With the bases loaded and a two-run deficit hanging over their heads in the fourth inning, Toles stepped up to the plate against Oakland right-hander Jesse Hahn and unloaded a grand slam on the second pitch he saw.
Third baseman Justin Turner was quick to follow up with a solo jack of his own, bringing the score to a comfortable 7-4 lead by the end of the fourth. Another three-run outburst in the fifth and an eighth-inning RBI single by Austin Barnes raised the final score to 11-6… which, coincidentally, was the same score the Reds used to defeat the Athletics’ second split-squad lineup on Saturday (albeit with a few more RBI walks than grand slams).
Toles, 24, is approaching his sophomore season with the Dodgers in 2017. He slashed .314/.365/.505 with three home runs and an .870 OPS in his first major league season in 2016 and is expected to platoon with the right-handed Franklin Gutierrez in left field this year.
David Price showed “strength improvements” in his elbow on Saturday, but Red Sox’ manager John Farrell still doesn’t think the left-hander will be ready to throw by the start of the season — or for a few weeks afterward. According to ESPN’s Scott Lauber, the 31-year-old might not be ready to debut until May at the earliest.
Price hasn’t thrown off of a mound this spring after experiencing soreness in his left elbow on March 1. Surgery doesn’t appear to be necessary, but the Red Sox are playing it extra safe with their No. 3 starter in hopes that rest and rehabilitation will return him to full health sometime during the 2017 season. For now, Price has been restricted to short games of catch until he’s cleared to resume a more rigorous throwing program. Via MLB.com’s Ian Browne:
[There were] strength improvements to the point of putting the ball back in his hand a little more consistently,” said manager John Farrell. “Today’s the first step for that. A short game of catch. That’s what he’s going through. Not off a mound but just to get the arm moving with a ball in flight, and he will continue in this phase for a period of time. There’s no set distance and volume yet to the throws.
The lefty is coming off of a lackluster 2016 season, during which he delivered a 3.99 ERA, 2.0 BB/9 and 8.9 SO/9 over 230 innings for the Red Sox.