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.

BBWAA votes to make all Hall of Fame ballots public beginning next year

Cooperstown
Associated Press
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In addition to naming the Spink Award winner this morning, the Baseball Writers Association of America voted today to make all Hall of Fame ballots public beginning with next year’s vote for the 2018 induction class.

As of now, writers are encouraged to make their votes public and, if they do, they are placed on the BBWAA website. They are not required to, however, and a great many Hall of Fame voters do not. While ballot secrecy is laudable in politics, the Hall of Fame vote brings with it a fundamentally different set of concerns and sentiment has increasingly favored transparency, as opposed to secrecy when it comes to the Hall of Fame.

While some in opposition to this move may claim that public ballots will only lead to criticism, our view is that if you can’t handle some reasonable criticism over your Hall of Fame ballot, you probably need to get out of the business of making history, which is what voting for the Hall of Fame really is.

The Yankee2 to retire Derek Jeter’2 number next 2ea2on

Derek Jeter
Getty Images
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RE2PECT: The Yankees just announced that they will retire Derek Jeter’s number 2 next season. The ceremony will take place on May 14, 2017 at Yankee Stadium.

With Jeter’s number 2 retired the Yankees will have retired 21 numbers. Twenty-two if you count number 8 twice, given that it was retired for both Yogi Berra and Bill Dickey. They also have retired 42 twice, once for Jackie Robinson, which every team has retired, and once for Mariano Rivera who donned 42 before the league-wide retirement of the number. The Yankees will also have put every single-digit number on the shelf. Except for zero, anyway, which no Yankees player has ever worn.

The retired pinstripes break down as follows:

1 Billy Martin
3 Babe Ruth
4 Lou Gehrig
5 Joe DiMaggio
6 Joe Torre
7 Mickey Mantle
8 Yogi Berra
8 Bill Dickey
9 Roger Maris
10 Phil Rizzuto
15 Thurman Munson
16 Whitey Ford
20 Jorge Posada
23 Don Mattingly
32 Elston Howard
37 Casey Stengel
42 Mariano Rivera
44 Reggie Jackson
46 Andy Pettitte
49 Ron Guidry
51 Bernie Williams