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View Full Version : Rangers borrowed money from MLB to meet payroll?


LoveYourSuit
07-02-2009, 05:21 PM
Yikes, what a train wreck.

http://sports.yahoo.com/mlb/blog/big_league_stew/post/Did-Rangers-have-to-borrow-money-from-MLB-to-mak?urn=mlb,174379

Southsider101
07-02-2009, 07:01 PM
If this is true, it could be bad news for Liverpool FC. Sounds like Hicks has a serious cash flow problem. He recently had to refinance a major loan with the Royal Bank of Scotland.

http://www.guardian.co.uk/football/2009/jun/26/liverpool-rbs-loan-letter

Lip Man 1
07-02-2009, 07:40 PM
It's happened before, I seem to recall Proud To Be Your Bud Selig's Brewers doing the same thing and when the story got out he got pissed.

Lip

WhiteSox5187
07-02-2009, 09:13 PM
It's happened before, I seem to recall Proud To Be Your Bud Selig's Brewers doing the same thing and when the story got out he got pissed.

Lip

Wasn't Veeck always struggling to meet payroll in the 1970s?

Oblong
07-02-2009, 10:23 PM
There were rumors the Tigers had to do it in the early part of this decade. It wasn't related so much to poor attendance but something to do with the loan on Comerica Park.

dickallen15
07-02-2009, 10:30 PM
It's happened before, I seem to recall Proud To Be Your Bud Selig's Brewers doing the same thing and when the story got out he got pissed.

Lip

Selig got a loan from Carl Pohlad I believe, one of the richest owners in all of sports at the time of his death. His revenue sharing check was higher than his payroll for years.

Daver
07-02-2009, 10:41 PM
Selig got a loan from Carl Pohlad I believe, one of the richest owners in all of sports at the time of his death. His revenue sharing check was higher than his payroll for years.

The loan was also illegal because of MLB's anti trust exemption, and MLB had to step in and repay the loan for the Brewers.

white sox bill
07-03-2009, 04:19 PM
Wasn't Veeck always struggling to meet payroll in the 1970s?
Yes, I just read from Mark Gonzalas's book that Veeck actually had to sell one of the Sox highest ranking Minor League player to make payroll one yr. Don't think the book said who it was.

laxtonto
07-04-2009, 06:02 PM
Heres the deal with the Ranger's payroll/Liverpool FC situation.

Hicks has already had his loan restructured for LFC in june. In doing so the Hick's Sports Group burned some of the on hand capital. This really doesn't matter because the MLB has stashed away 15-20M per team from the sell from the Expos in a "contingency fund".

That contingency fund was one of the hiccups in the last CBA negotiation when the union wanted a bigger cut and was referring to the lump sum a part of the MLB equity and not a part of the individual teams resources.

The real question being knocked about is that did Hicks do this on purpose to get his part of the Expos deal out the MLB before the he sells the team.

Texas has already spent almost 2M in LA signings this month are well into the negations with Purke and Scheppers.

The cash flow problems of the Rangers are being well overstated and are having no effect on the teams budget for the fiscal year.