Off the Kuff Rotating Header Image

Posts Tagged ‘J. Kent Friedman’

Appeals court revives MBIA lawsuit against Sports Authority

Here we go again. A lawsuit against the agency that pays the debt on Houston’s sports stadiums is back on following an appeals court ruling. Last April, a state district court judge ruled that a bond insurer could not sue the Harris County-Houston Sports Authority or the Harris County Sports & Convention Corp., saying they […]

Someone attempted to do something about MBIA and the Sports Authority

And others expressed their disapproval about it. What the “it” is, and who it was that was trying to do “it” remain unclear. A surprise legislative maneuver has local government lobbyists scrambling to defend the agency that pays the debt on Houston’s sports stadiums against an alleged takeover attempt by the company that insures its […]

Sports Authority gets sued

MBIA, the company that insures the Harris County-Houston Sports Authority’s bonds, has filed a lawsuit to force the Sports Authority to collect more money to pay its obligations. If MBIA must cover payment shortfalls and cannot reimburse itself from the authority’s reserves, the amount owed to the insurer will accumulate with interest. In such a […]

The Sports Authority’s finances are back in the news

I still have no idea whether this is something we need to worry about or not. The firm that insures the Harris County-Houston Sports Authority’s $1 billion in bonds – sold to finance the homes of the Texans, Rockets and Astros – is calling on the cash-strapped authority to bolster its depleted reserves and warning […]

Sports Authority will not impede Astros move to AL

One of the odd side stories that came out after MLB officially approved the sale of the Astros to Jim Crane was this contention by attorney Kevin W. Yankowsky of Fulbright & Jaworski that the Astros’ lease at Minute Maid Park required them to be in the National League. At the time, Sports Authority Chair […]

MLB approves Astros sale

It’s official. Jim Crane’s $610 million purchase of the Astros from Drayton McLane was unanimously approved by Major League Baseball’s owners this morning. All that remains is a formal closing of the transaction, which likely will take place early next week. At that point, McLane’s 19-year ownership of the club will end. As we know, […]

More Sports Authority woes

The Harris County-Houston Sports Authority is dealing with more financial issues that may require it to dip way into its cash reserves. Lawyers for the authority and MBIA now are disputing whether Swiss bank UBS gave proper notice of its intent to terminate the interest-rate swap agreement that would require the $27 million payment. The […]

The Sports Authority wants you to know it’s working hard for you

I feel like the Chron should send a bill for its standard advertising rates to the Harris County-Houston Sports Authority for running this op-ed by its chair, J. Kent Friedman. It’s one part victory lap for negotiating the Dynamo Stadium lease and one part “Hey! Look at all this stuff we’re doing!” rah-rah. I like […]

Here comes the Sports Authority

Ready or not, here they are to ride to the rescue. The Harris County-Houston Sports Authority agreed Monday to talk to city and county officials about its possible involvement in a soccer stadium for the Houston Dynamo. The authority will establish a task force to determine its response to an invitation from the city and […]

Sports Authority to the rescue?

After many months in limbo, there may finally be a way forward for Dynamo Stadium, though it’s a somewhat convoluted path. The Harris County-Houston Sports Authority board is scheduled on Monday to discuss becoming the landlord for a professional soccer stadium in Houston’s East End. […] [Harris County Commissioner El Franco] Lee repeatedly has said […]