My guess is that the stay will be denied. I also predict they lose the appeal. I also predict it will be at least two more seasons before we get to watch any games.
<blockquote class="twitter-tweet" lang="en"><p>Catching up on some of the CSN Houston case fine print <a href="http://t.co/5GpklluujN">http://t.co/5GpklluujN</a></p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433074651258822656">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Latest blog post clarifies a matter that was obscured by an Astros court filing that was redacted (blacked-out) in its original form.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433074847892000768">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Judge Isgur ordered it unredacted, and the full copy was filed Monday. Issue involves Aug 2013 meeting in which Comcast offered to buy net.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433075366001770496">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Comcast set value of net at $500 mil and offered Astros more than $185 mil for their share, according to the Astros.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433075592406122496">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Original value of net in 2010 was set at $700m, and Jim Crane says he paid $326m to Drayton McLane for his share.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433075733854838786">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Comcast offer obviously would have resulted in a big loss for Crane and investors. Comcast would not make similar buyout offer to Rockets.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433076140962353153">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>And so the buyout didn't happen.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/433076186546061312">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Here's the article from that tweet above (I'm not sure why he jumps from 5 to 8 on his points): http://blog.chron.com/sportsupdate/2014/02/catching-up-on-some-of-the-csn-houston-case-fine-print/
Judges usually don't issue rulings that they think will be overturned on appeal. The issue on appeal is whether the involuntary petition met the statutory requirements, not whether Granville thinks that Crane is the antichrist.
Try to be civil ok. I purposely did not ask you the question because I knew you'd respond the way you did.
<blockquote class="twitter-tweet" data-partner="tweetdeck"><p>Comcast actually valued the network at $500 million, and offered the Astros $185 million for its share. I apologize for getting that wrong.</p>— John Royal (@John_Royal) <a href="https://twitter.com/John_Royal/statuses/433087500337176576">February 11, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Wow. Looks like Drayton robbed Crane on the price of those media rights. I guess I'd be pissed too if someone offered me 60 cents on the dollar a year later on a business deal that big, but that's life when you buy a pro team.
Also helps highlight how sketchy Comcast is, when they helped initially boost the value of the channel at the time of sale (presuming full coverage), and now think its severely depreciated even if they can get full carriage deals.
Interesting on the clarification of why the Rockets refused to pay the last portion of that May cash call. Their payment wouldn't have resulted in the Astros getting their full payment for their rights fees and they probably knew the Astros were going to veto any further cash calls and try to leave so they just declined to throw money down the toilet, as it were. Or did I read that wrong?
Really? So it's Drayton's fault that Crane didn't do his due diligence when negotiating the deal? Crane had George Postolos in his corner who should have had complete knowledge of everything going on with the Rox/Astros partnership. Crane is not going to come close to winning his lawsuit with Drayton.
I think this can cut both ways. You can ask the question the way you posed it.... or you can ask it this way..."really? you don't think a businessman as sophisticated as Crane did his due diligence on a purchase in the hundreds of millions of dollars? you don't think he had a team of lawyers looking at that carefully? This certainly isn't the first acquisition by Crane and his team. Hell, they had Postolos on their side...they had to be misled, otherwise no one with that sort of sophistication and expertise surrounding him would have paid that much for an asset that clearly wasn't worth that." I said the same thing about the fact they all agreed to the unanimous consent provision...how in the world do sophisticated businessmen with high priced lawyers (as well as league lawyers looking over their shoulder) agree to give one another absolute veto right over whether their games are distributed throughout the market...particularly when they have such inherently different needs given revenue structures in their respective leagues?? but they did it, anyway.
I think the lawsuit against Drayton screams desperation. There were too many people still in house and employed with the Astros that would have had zero incentive to lay down a bad deal for the next owner.
I need to know the exact allegations first (beyond just what's in the pleadings so far)...and I'd need to see what was handed over and what wasn't. The folks in the Astros office would not have been involved in all likelihood..particularly not the ones who have the sort of positions that would be carried over from one regime to the next. Most due diligence runs through professionals who are third parties (attorneys and accountants). I've also never seen the documents effecting the sale...so I have no idea what representations and warranties were made.
This fits the narrative which has been there all along - that Comcast is a shark, always has been a shark and always will be a shark. And Crane (and to a lesser extent Alexander) are the suckers Comcast hooked. In the end, Crane may come out of this as the guy in the white hate - beating back Comcast from its predatory ways. Except.. They did this to themselves. And who is really suffering? The fans. Now this is a Rockets board, and to a smaller degree a general Houston Sports board, and so both basketball AND baseball has interest here.. But.. this is a Basketball board. And I will tell you this: I have U-Verse, not Comcast. I will never have Comcast. Ever. And yet I have seen every Rockets game this year. Using a simple little $40 device like a Roku, and another $60 invested in the 'solution' mentioned in the Hangout.. in HD quality, on-demand any time I want, without even filling up my own DVR. Plus, it's basically League Pass, because I can watch ANY NBA game at all this season whenever I want.. If you have not availed yourself of the solution, and you are a Rockets fan, I urge you to do so, because we as fans should not be forced to have to suffer because these corporate MORONS got in a bath together and commenced to pooping all over themselves.
I wasn't uncivil to you in this thread. This thread was opened to get back on track. Whatever your problem is, get over it somewhere else.
Same here. I won't switch over to Comcast either and for $60 (which is less than I would spend going to 1 game) I get to see every Rockets game.
I think comments attributed to Crane that said he had no knowledge of the MFN clause until after he bought the team put him in a really bad light. I remember him saying he asked for stuff and never got it..... who'd buy a team if that were the case. That said, we can all read in to snippets of reporting we get and come up with a different conclusion. Last week, there was a lot of debate around Crane's resposibility to CSN H and this week it became obvious the Judge had concern with that. Same with how the Judge would rule on whether or not this belonged in bankruptcy court. We can all take the information we are privy to and make predictions based on that. My guess is Crane's lawsuit against McLane goes nowhere.
