Schott settles lawsuit with Ed Alvarez
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He must have wanted to settle the lawsuit before November when it was going to trial. He must be really getting ready to sell.
Sorry but I don't have a link to this article because it was sent to me by email without the link or perhaps it was not online. At least I didn't find it online.
The Oakland Tribune
Team, former top executive settle lawsuit
Attorneys for both sides refuse to reveal terms of case, settled in July
By Robert Gammon
OAKLAND -- A former top executive for the Oakland A's who claimed team co-owner Steve Schott swindled him out of more than $40 million has settled his lawsuit against the ballclub.
The terms of the settlement between Ed Alvarez, former executive vice president of the A's, and Schott and the team were not disclosed. Attorneys for Alvarez and Schott refused to comment Friday on the outcome of the case, which was settled last month.
Alvarez had been Schott's close friend since college in 1956 and his lawyer since 1981. Alvarez also helped broker the sale of the A's from the Haas family to Schott and Ken Hofmann for $72 million in 1995.
Alvarez said in court papers that as part of that deal, Schott promised him 10 percent of the A's should the team ever be sold if he would "run the business." A Washington, D.C., investment group nearly purchased the A's from Schott and Hofmann last month for $170 million.
The A's fired Alvarez in December 1998, and 16 months later he filed suit for fraud and breach of contract in Alameda County Superior Court against Schott, the A's and the team's concessions operations, Bay Area Sports Management and Athletic Stadium Operations Co.
Along with the 10 percent interest in the team's sale, Alvarez also demanded at least $2 million from the A's for helping the team win $16 million in cash and benefits in a 1998 arbitration case against the city of Oakland and Alameda County. In 1997 and 1998, Alvarez also scouted the South Bay for a new home for the A's before he was fired.
In addition, Alvarez claimed that Schott lured him out of his law practice in the late 1980s and then reneged on promises of a $10 million to $20 million stake in Schott's company, SCS Development Co. -- the parent company of Citation Homes of Santa Clara.
Alvarez also wanted an additional $4 million for his role in developing the controversial Roberts Landing development of 650 waterfront homes in San Leandro. And Alvarez was demanding a $500,000 share of Bay Area Sports Management, along with $2 million to $3 million in lost potential earnings and punitive damages.
In court filings, Schott denied all of Alvarez's claims, saying he never made any of the alleged promises and noted that none of them had been made in writing. Schott also alleged that Alvarez abused his position as Schott's attorney, "all to the advantage of Alvarez."
During the past two years, Schott attempted unsuccessfully to have the case thrown out.
The case was scheduled to go to trial in Oakland in November.
| By kenarneson on Monday, August 19, 2002 - 09:08 pm:|
A lawyer suing his former client for breaking promises he didn't get in writing? Shouldn't a lawyer, of all people, know that he should get those promises on paper and signed?
Hard to feel sorry for anyone here...
I only feel sorry for us fans. Schott is really posturing and getting ready to sell the A's down the river in my opinion. Hopefully he won't succeed.
| By eyleenn on Monday, August 19, 2002 - 09:56 pm:|
If "Schott attempted unsuccessfully to have the case thrown out" several times, you can bet he coughed up some big bucks to settle.