Angelos Family Fued

[Frobby]

1 hour ago, waroriole said:

Roch and Melewski are still mostly silent. Roch published his daily article taking mailbag questions but somehow didn’t answer the question we all want to know. 

Roch and Melewski aren’t paid to cover the business side of the organization.  I would not expect them to address any of this.  For that matter, I wouldn’t expect any of the best reporters to address it.  The actual news/business reporters are far more likely to get into it.  

[Sports Guy]

9 minutes ago, Frobby said:

Roch and Melewski aren’t paid to cover the business side of the organization.  I would not expect them to address any of this.  For that matter, I wouldn’t expect any of the best reporters to address it.  The actual news/business reporters are far more likely to get into it.  

Im waiting for the national article of how big this really is...how Elias hasn't been able to do things, players that they almost got but got nixed at the end, etc...I am guessing we are just at the start of this and things will get worse.

[Moose Milligan]

Just now, Sports Guy said:

Im waiting for the national article of how big this really is...how Elias hasn't been able to do things, players that they almost got but got nixed at the end, etc...I am guessing we are just at the start of this and things will get worse.

Yeah, there's no real upside here (unless they end up selling the team).  I don't think any related news gets better.

 

[Can_of_corn]

2 minutes ago, Moose Milligan said:

Yeah, there's no real upside here (unless they end up selling the team).  I don't think any related news gets better.

 

Come on, you get to see all of us negative Nancys post about how right we were.

How is that not upside?

[maybenxtyr]

2 hours ago, Pickles said:

I work in education.  You don't even want to know what it has done to education and a whole generation of students.  And I work in a southern state that opened up way before everwhere else.

I teach at a community college which is a dual credit program, so while I teach college courses I'm actually teaching many high schoolers.  These are supposedly the best high schoolers in the district.   60% of them are functionally illiterate.  

It ain't getting better, folks.

Learn to garden and tend chickens.

(I realize I woke up a ray of sunshine today.)

I have a trucking business...we ain't seen nothin' yet. Seriously, 07-08 were bad times but this is going to make that look like an economic boon.

[SteveA]

Apparently these type of things aren't unusual among family owned professional sports teams:

https://www.espn.com/nfl/story/_/id/34064763/dean-spanos-sued-sister-accused-misogynistic-behavior-legal-battle-continues-control-los-angeles-chargers

[spiritof66]

10 hours ago, wildcard said:

Points: (from my perspective)

1.  There is a trust in place.

2. Lou is upset enough to bring a lawsuit.

3.  Lou is not using the Angelos law firm in spite of leading it.  He got outside counsel.

4. The lawsuit is Lou's perspective.

5. Peter has a heart condition.  No word on his mental state.

6. No word from Georgia.  What is said about Georgia is from Lou's perspective and  since the lawsuit is against Georgia and John, Georgia probably does not agree with Lou.

7. No word from John.

8.  Anyone can sue for any reason.  Merit is yet to be established.  We need to know more.

 

I agree with most of this. Two comments.

I know a little about the Angelos Law Firm. Once a behemoth in asbestos litigation, and the principal source of the funds that enabled Peter Angelos's group to win the 1993 auction for the Orioles, it is down to 23 lawyers on its website (I think it was around 30 when I checked six months or so ago), probably with zero expertise in the issues likely to be involved in this dispute. I don't know much about Maryland lawyers, but the ones Louis hired appear from their website (they are in same firm) to have very significant ability, experience, expertise and reputation. That suggests to me that Louis isn't just screwing around but is prepared to spend substantial maoney pursuing this. 

https://www.nusinovsmith.com/

We don't, certainly I don't, know what the trust referred to in the lawsuit authorizes any of the other three Angeloses to do in terms of making decisions about selling, moving or running the team. As a previous poster pointed out, just putting some of that authority in a trust won't have a significant effect on taxes when you're talking about an estate of $1 to $2 billion (about $1 billion for Peter Angelos's share of the team, thought to be around $1 billion) plus substantial but uncertain investments including his law firm (clearly a wasting asset, though he appears to still own it).

I know virtually nothing about Georgia Angelos, other than her age (80) and her apparent disinterest in anything relating to baseball. I have to assume that she loves her sons and is quite torn up about both their bitter falling-out and the recent disclosures about it, with more likely to be coming. I would guess that she wants the team to be sold to avoid making that situation worse and prolonging it, and (though we don't don't know what the will says) so that whatever she gets can be spent the way she wants to spend it, perhaps furthering her own charitable interests, and closing the book on her family's Orioles ownership rather than litigating to retain an asset (and potential liability) in which she has no interest.

 

[Going Underground]

37 minutes ago, Frobby said:

Roch and Melewski aren’t paid to cover the business side of the organization.  I would not expect them to address any of this.  For that matter, I wouldn’t expect any of the best reporters to address it.  The actual news/business reporters are far more likely to get into it.  

The 49 page complaint is in the article to download. I can't do it now on my phone.

Baseball ownership | Courthouse News Service
https://www.courthousenews.com/baseball-ownership/

 

https://www.courthousenews.com/wp-content/uploads/2022/06/angelos-angelos-complaint-baltimore-county.pdf

[OsFanSinceThe80s]

10 minutes ago, Going Underground said:

The 49 page complaint is in the article to download. I can't do it now on my phone.

Baseball ownership | Courthouse News Service
https://www.courthousenews.com/baseball-ownership/

 

https://www.courthousenews.com/wp-content/uploads/2022/06/angelos-angelos-complaint-baltimore-county.pdf

Really cool this will make for some good bedtime reading or while I'm on the throne. 

[Moose Milligan]

33 minutes ago, Can_of_corn said:

Come on, you get to see all of us negative Nancys post about how right we were.

How is that not upside?

Being negative all the time (us Negative Nancys call it realistic) is getting tiresome.

[Going Underground]

4 minutes ago, OsFanSinceThe80s said:

Really cool this will make for some good bedtime reading or while I'm on the throne. 

King for a day.

 

 

[spiritof66]

4 hours ago, wildcard said:

The team's ownership probably gets transferred to the Trust upon Peter's death or is already in the Trust. What happens depends on what the terms are in the Trust.   However, the Trust  sounds like it has Georgia, John and Lou as the beneficaries of the Trust.  

The Tigers are owned by a Trust.  

The short answer, at least my answer, is that we don't know. The coverage so far makes that, again to me, less clear than it was before.

One of the many things that MLB and MLB owners don't like is having control over a team's decision-making divided, so that those decisions can be bought over, litigated, appealed, etc. , even if the parties sharing control are all hunky-dory about everything right now. The more evenly divided that control is, the worse it is. If there's a perfect 50-50 division of authority, the situation gets much worse. If the 50 percent and 50 percent disagree over, say, whether to sell the franchise, there can be separate deadlock litigation to decide that sort of thing. I don't know the Maryland law on this or what law would apply, but I've litigated deadlock (or potential deadlock) cases in Delaware and New York. They are ugly, personal, name-calling events, akin to bitter divorce cases. (One grew out of a divorce agreement.) Judges sometimes don't like to decide them because there is often no "right" solution, and they can last longer than they should. 

But let's see what the complaint and trust documents say. (The partnership agreement defining Peter Angelos's authority as majority managing partner and what, if anything, happens on his death may be important, too.)

[Can_of_corn]

Just now, Going Underground said:

King for a day.

 

 

I was thinking more.

 

 

[Going Underground]

3 minutes ago, spiritof66 said:

The short answer, at least my answer, is that we don't know. The coverage so far makes that, again to me, less clear than it was before.

One of the many things that MLB and MLB owners don't like is having control over a team's decision-making divided, so that those decisions can be bought over, litigated, appealed, etc. , even if the parties sharing control are all hunky-dory about everything right now. The more evenly divided that control is, the worse it is. If there's a perfect 50-50 division of authority, the situation gets much worse. If the 50 percent and 50 percent disagree over, say, whether to sell the franchise, there can be separate deadlock litigation to decide that sort of thing. I don't know the Maryland law on this or what law would apply, but I've litigated deadlock (or potential deadlock) cases in Delaware and New York. They are ugly, personal, name-calling events, akin to bitter divorce cases. (One grew out of a divorce agreement.) Judges sometimes don't like to decide them because there is often no "right" solution, and they can last longer than they should. 

But let's see what the complaint and trust documents say. (The partnership agreement defining Peter Angelos's authority as majority managing partner and what, if anything, happens on his death may be important, too.)

I posted the complaint link above.

[Going Underground]

21 minutes ago, Going Underground said:

The 49 page complaint is in the article to download. I can't do it now on my phone.

Baseball ownership | Courthouse News Service
https://www.courthousenews.com/baseball-ownership/

 

https://www.courthousenews.com/wp-content/uploads/2022/06/angelos-angelos-complaint-baltimore-county.pdf

Here