McLane statement on lawsuit

Here’s Drayton McLane’s statement on the Crane lawsuit:

“I haven’t seen the lawsuit yet, but Jim Crane is highly-experienced and has been in business over 30 years. He is surrounded by top-tier accountants, attorneys, operators and marketers, and he has participated in transactions even larger than this one. His experts meticulously examined the Houston Astros financial position. My team was absolutely transparent and produced thousands of pages of documents; we provided answers and explanations to all of their questions. Any suggestion otherwise is absolutely false. As an example today, Jim Crane reportedly stated that he did not receive the business plan for CSN Houston prior to the purchase. that is not true.

“This was one of the most complex and scrutinized transactions of my business career. Jim’s group had all the facts. In fact, the told the [Houston] Chronicle this September that the regional sports network had ‘good long-term value.’ The accusations that have been reported are hollow and appear to be an attempt to recreate the facts. We will respond in a vigorous and persuasive manner to the lawsuit.”

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