  BaNi2As2 is a superconductor chemically related to the Fe-based
superconductors, with a complex and poorly understood structural phase
transition. We show based on first principles calculations that in fact there
are two distinct competing structures. These structures are very different from
electronic, transport and bonding points of view but are close in energy. These
arise due to complex As bonding patterns and drive distortions of the Ni
layers. This is supported by photoemission experiments. This leads to an
interplay of electronic and structural behavior including induced anisotropic
of the electronic transport. The competition between these distortions is
associated with the complex behavior observed in BaNi2As2 samples.
