Thursday, November 21, 2013

Fraud, huh?

Tom Kirkendall tweeted out a link to a statement the Astros made this evening regarding a petition that Jim Crane and the Astros filed today...

The Petition asserts causes of action for fraud as to McLane Champions, LLC and R. Drayton McLane Jr; negligent misrepresentation as to all Defendants; breach of contract and declaratory judgment as to McLane Champions, LLC; and civil conspiracy as to all Defendants, relating to and in connection with the purchase of Houston McLane Company, LLC and its equity interests by Jim Crane and the current ownership group in 2011.

The Defendants are listed as Drayton, Comcast, NBC Universal, and Jon Litner - the Group President of the NBC Sports Group.

The reason for filing today, according to the statement, is that the statute of limitations would expire today, and they filed to preserve their rights.

This is, um, big.


Anonymous said...

What I learned today that I didn't know is that the Rockets got their $45mil for their broadcast rights, but the Astros didn't get a dime of the $57 mil they were to get for theirs.
That sheds a new light on things CSN for me. 1oldpro

Anonymous said...

Where did you learn that? I recall that the Astros got some, but not all of their payments.

At any rate, Crane's tenure is a complete fiasco. He may not be a fraud like he alleges McLane is, but he is a total amateur.

Lyle said...

Crane's tenure is not a fiasco. He's fighting for the best interests of the franchise. Even MLB has given him their tacit support.

It's Comcast and Drayton who don't give a damn about what is best for the Astros. Do you understand that?

And it's Crane who brought in Luhnow who is committed to doing his thing.

A fiasco is the New York Yankees, where they're spending millions on mediocrity. They have no real plans and they're suffering for it.

Anonymous said...

Crane apologists are so naive. The guy grossly overpays for the franchise/network, something many observed at the time of purchase. Now, as a consequence of that overpayment, the franchise is basically on a spartan budget and will be for many years. No TV. The fan base is basically gone. Hell, did they even spend all of the draft and international allotments, you know, one of the things people rightly criticized McLane about?

Instead of acknowledging where the blame obviously lies, they come up with all the convoluted rationalizations. They are like partisans in politics, incapable of stepping outside tribal behavior and dispassionately assessing things.

It's quite possible that McLane left it in disarray, but Crane has made it far worse. His blunders have turned the Astros' economics into a very small market club that very few can or will watch. Brilliant.

Anonymous said...

Crane apologists are no more naive than Crane haters. They blog, they state their opinions. It's easy to call people names and claim they are naive because they see things differently. It just seems that apologists state their opinions and haters get angry and start calling people names. 1oldpro

Teddy said...

The difference between Crane apologists and the InCranesitionists, is that those who support what Crane has done will often sign their posts, whereas the opposing side will stick with the Anonymous tag.

Rafe said...

It's possible to believe that Crane has done some good things as owner and also made some pretty big blunders. I was not a fan of MLB approving the sale to Crane in the first place, because the deal was financed with so much debt among other reasons. I think Crane did a good job in hiring Luhnow and that things are looking better on the baseball side, but that Crane has done a terrible job on the non-baseball side of engaging the fan base, starting with TV deal, but also in a bunch of other ways.

I can't afford to buy him out, so I'm stuck hoping he does better in the future.