Houston, we have a problem!

[Fullabull]

What are we calling Enron Field these days?:doh:
They used the term "Homerun Field " several times last year.
I wonder if the Astros lose sponser money or is it the citizens of Houston?:pout:

[RockieBill]

If so many people hadn't got the shaft over this, it would be hilarious! Now, companies are lining up outside the Astro's offices with wheelbarrow-loads of money to get the new naming rights...Enron's corpse isn't even cool yet. Aw yes, the almighty dollar...

http://wire.ap.org/APnews/center_story.html?FRONTID=BASEBALL&STORYID=APIS7H7L66G0
JANUARY 23, 19:19 ET
Corporations Contact Astros Owner

HOUSTON (AP) Several Houston corporations have contacted Astros owner Drayton McLane Jr. about putting their name on what now is Enron Field.

McLane, however, said Wednesday he's telling those companies that beleaguered Enron is current on its payments for the 30-year, $100 million naming rights agreement with the Astros.

``They have currently fulfilled their financial obligation,'' he said. ``We are going to sit down and visit with (Enron executives) and see where they want to go long-term.''

McLane, who would not disclose the names of other firms interested in the ballpark's naming rights, said he's told them it would be inappropriate to have any discussions until Enron gets direction from the bankruptcy court and decides whether the ballpark's naming rights are an asset the former energy giant wants to continue.

``We'll make a decision jointly with Enron,'' McLane said. ``I'm sure the bankruptcy court will participate in that.''

While a meeting hasn't been scheduled, McLane said he remains in regular contact with Enron executives and hoped to have a clearer idea of what will happen to the name of his team's 2-year-old home sometime next month.

``I think the public is kind of anxious to know what the name of the ballpark is going to be,'' he said, comparing the situation to going to the movies.

``You have to wait to get the conclusion,'' he said.

[KingFish]

With the way the Enron story is breaking I just cannot imagine a bankruptcy management team continuing to support spending this kind of money for naming rights. If anything cost cutting and restructuring of Enron would most certainly preclude this kind of an almost frivilous spending arrangement. The Feds just will not allow that to transpire. This may actually work out in the Stros favor. If corporations are really lining up to battle for the rights, competitive bidding may actually provide a substantail wind fall for the club.:2guns:

[RockieBill]

Me thinks you hit the nail on the head there, Fish. It also appears that Enron is not going to go gently into that good night (appologies to Dylan Thomas!).

From Wire Reports
Originally published February 6, 2002

As Enron Corp. sinks deeper into political and financial scandal, the Houston Astros made their first formal bid yesterday to end the naming rights deal for 2-year-old Enron Field. In a motion filed in a U.S. bankruptcy court in New York, the club asked the judge to decide whether the contract should continue.

The filing also revealed that Enron, a company charged with billion-dollar financial misdeeds, had paid $198,000 in the past two weeks for season tickets and a suite, with the latest payment made Monday.

"We do not believe that it is appropriate for Enron to continue to spend these large sums of money to have a stadium named after it," said Pam Gardner, the Astros' president of business operations. "We have worked diligently with Enron to transition the stadium name, but we've been unsuccessful."

In response, Enron spokeswoman Karen Denne said: "The naming rights agreement is a valuable asset in the estate, and it's in the best interest of our creditors that we preserve the value of that."

A hearing on the team's motion is scheduled Feb. 27, Gardner said. The energy company agreed in 2000 to pay the Astros an average of $3.3 million a year for 30 years for the naming rights. The company is paid up until Aug. 31.

[KingFish]

Methinks the plot thickens!:biggrin:

[usc2002]

Yeah it appears Enron owes the 'Stros 3.7 million due on August 31..Enron filed a motion in court to have Enron removed from the team out of fear it will make people associate their team with the poorly run energy company......

"Home"-ron Field I guess could now be official.....:biggrin:

Lucky for them there are a lot of big spenders in Texas......And I can't see it feasible for them to have to continue to carry the Enron name.......

[KingFish]

The news last night said Enron just laid out 90K for luxury boxes/reserved seats. This is the company that has destroyed hundreds if not thousands of it's employees retirement benefits and yet they can get away with throwing money towards buying seats for a baseball game? There is something very foul going on. I'm hearing that Enron maybe attempting to shore up the value of the naming rights so they can sell it to whomever they please. The Stros legal beagles are saying they do not have that right. I sense a state or higher Supreme court class action suit coming up in the near future. Yet the legal experts are now saying Enron has the right? Give me a break? Screw them! The bankruptcy courts concern should be on the employees that are getting the shaft.

Just because the CEO left does not clear the rest of the senior management team. We already have one suicide from their ranks and now we hear of possible insider trading to the tune of 44 million and these are the same guys approving spending money on baseball? Come on. If our criminal justice system doesn't take quick and affirmative action I can see all sorts of real ugly things coming out of this.

Where is Selig in all this? Mr. Keep my Mouth shut until I get my way on contraction. Baseball needs to take a stance if for no other reason than the morallity issues. Bad things that could touch a majority of the country at a level we have never experienced before may be in the future and baseball leadership isn't speaking up? If Selig is really doing things in the best interest of baseball wouldn't you think he'd be jumping up to join ranks with the Stos management? A sad, sad situation that is not getting better with the actions of current Enron management and the inaction of Mr. Commish!