PDA

View Full Version : Mark Cuban to enter bidding for the Rangers?


WhiteSox5187
07-11-2010, 07:59 PM
http://sports.espn.go.com/dallas/mlb/news/story?id=5370763

ESPN is reporting so. I think it would be lousy to have the Rangers essentially stolen from under Nolan Ryan's group, but that's what happens when you enter bankruptcy I suppose.

If Cuban wants to buy a MLB franchise, why not buy his hometown Pirates? I would love to see that. I know that Mario Lemieux made an unsolicited offer and the Pirates ownership got pissed and then had someone on their website bad mouth Lemieux for not winning more with the Penguins ignoring the fact that he saved the Penguins for Pittsburgh.

Coops4Aces
07-11-2010, 08:03 PM
I thought he wasn't going to be allowed by the other owners.

ilsox7
07-11-2010, 08:16 PM
I thought he wasn't going to be allowed by the other owners.

With the whole bankruptcy thing, they may not have much of a choice.

g0g0
07-11-2010, 08:21 PM
I like the idea of him staying only in Texas...far far away in Texas.

The Immigrant
07-11-2010, 08:22 PM
With the whole bankruptcy thing, they may not have much of a choice.

The sale will still be conditioned on the approval of MLB. That's something the bankruptcy judge cannot override, and the owners obviously prefer the Greenberg/Ryan bid.

ilsox7
07-11-2010, 08:37 PM
The sale will still be conditioned on the approval of MLB. That's something the bankruptcy judge cannot override, and the owners obviously prefer the Greenberg/Ryan bid.

Yea, but with MLB dumping upwards of $30MM into the team, they may forgo the "We hate Cuban" mantra to get their cash back. I dunno, just saying that it could have some affect. Maybe not.

soxfanreggie
07-11-2010, 09:32 PM
They have it right that Pirates fans want him. The ones I know Would much rather have Cuban as principal owner over Nutting.

october23sp
07-11-2010, 09:37 PM
They have it right that Pirates fans want him. The ones I know Would much rather have Cuban as principal owner over Nutting.

If I was a Pirates fan I would beg for him.

WhiteSox5187
07-11-2010, 10:23 PM
If I was a Pirates fan I would beg for him.

I would beg for anyone over the guy they have now.

DumpJerry
07-12-2010, 05:44 AM
If I was a Pirates fan, I'd feel real lonely at the Pirates' fanfest.

SI1020
07-12-2010, 07:28 AM
They have it right that Pirates fans want him. The ones I know Would much rather have Cuban as principal owner over Nutting. Pirate fans would rather have almost anybody than Nutting, who is using the team as a cash cow to prop up his struggling business interests.

Foulke You
07-12-2010, 10:50 AM
I would beg for anyone over the guy they have now.
I think the current Pirates ownership is only 2 years old. I would give them some time before making a judgment call. The previous group was horrendous though. They finally have a decent young group of players coming up through their system and honestly, that is how they are going to have to do it there, especially in the pitching department. Guys like Cliff Lee or Adam Dunn aren't going to sign there as a free agent unless you ridiculously overpay. They will need to do what the Nationals are doing now. Build through the farm system and then look to add free agents when you get more competitive.

russ99
07-12-2010, 11:23 AM
The sale will still be conditioned on the approval of MLB. That's something the bankruptcy judge cannot override, and the owners obviously prefer the Greenberg/Ryan bid.

Very much doubt the owners approve him, regardless of the circumstances.

downstairs
07-12-2010, 02:53 PM
Very much doubt the owners approve him, regardless of the circumstances.

Why do the owners not want Cuban around? Too much money?

He's a bit of a loud mouth, sure- but why would they care that much? He doesn't ruin the NBA- people that dislike him generally roll their eyes and move on.

The Immigrant
07-12-2010, 07:41 PM
Yea, but with MLB dumping upwards of $30MM into the team, they may forgo the "We hate Cuban" mantra to get their cash back. I dunno, just saying that it could have some affect. Maybe not.

It's possible, but one thing that's telling is that the Rangers have already rejected a $20MM higher offer from Jim Crane, with the Rangers publicly citing "execution risk" as the reason for going with the Greenberg-Ryan proposal. MLB's bridge loans will get repaid either way, as will all other creditors of the ballclub. The only creditors who would be impaired if the team was sold to Greenberg-Ryan are the lenders to the Hicks entities that owned the ballclub, because there wouldn't be sufficient proceeds to flow upstream. These lenders are the reason the sale couldn't be completed out of court, and they are also the reason the team is going through a more prolonged sale process in court.

On a related note, just this evening the Greenberg-Ryan group sued the Rangers in bankruptcy court, seeking specific performance of the asset purchase agreement and accusing the team of negotiating with other bidders and reneging on the deal even though it agreed to an exclusivity provision with the plaintiffs.

So, to recap, an entity controlled by Nolan Ryan and his business partner is currently suing the bankrupt ballclub of which Nolan Ryan is the president.

Here's the link: http://sports.espn.go.com/dallas/mlb/news/story?id=5373893

ewokpelts
07-13-2010, 10:41 AM
cuban owning the rangers wouldnt be bad. seeing as he's already the owner of the mavs.

ilsox7
07-13-2010, 10:49 AM
It's possible, but one thing that's telling is that the Rangers have already rejected a $20MM higher offer from Jim Crane, with the Rangers publicly citing "execution risk" as the reason for going with the Greenberg-Ryan proposal. MLB's bridge loans will get repaid either way, as will all other creditors of the ballclub. The only creditors who would be impaired if the team was sold to Greenberg-Ryan are the lenders to the Hicks entities that owned the ballclub, because there wouldn't be sufficient proceeds to flow upstream. These lenders are the reason the sale couldn't be completed out of court, and they are also the reason the team is going through a more prolonged sale process in court.

On a related note, just this evening the Greenberg-Ryan group sued the Rangers in bankruptcy court, seeking specific performance of the asset purchase agreement and accusing the team of negotiating with other bidders and reneging on the deal even though it agreed to an exclusivity provision with the plaintiffs.

So, to recap, an entity controlled by Nolan Ryan and his business partner is currently suing the bankrupt ballclub of which Nolan Ryan is the president.

Here's the link: http://sports.espn.go.com/dallas/mlb/news/story?id=5373893

Good info, thanks!

russ99
07-13-2010, 11:59 AM
Why do the owners not want Cuban around? Too much money?

He's a bit of a loud mouth, sure- but why would they care that much? He doesn't ruin the NBA- people that dislike him generally roll their eyes and move on.

They don't like the way he does business. It's a young brash tech-bubble speculator loudmouth who flouts authority, personally shows up the league, complains to refs at his team's games and throws money at every problem.

MLB is an old boy network, and he doesn't fit the profile of who they want in their "club". Not saying that's a good thing, but how things are. Guys with pull within the group (like our own Jerry Reinsdorf) have dealt with him as NBA owners and don't like him.

If Nolan gets sick of this runaround and his group decides they'd rather buy the Astros, I'd welcome it, and they'd probably throw a parade in Houston since he's so loved there and the current owner Drayton McLane is so hated.

soxfanreggie
08-04-2010, 10:20 PM
http://sports.espn.go.com/dallas/mlb/news/story?id=5436579

Looks like Cuban has the higher bid so far.

IMO, I hope they hit MLB hard if they don't take the highest offer. MLB will be interesting if a team outside of the East combats the East teams (Yankees, Red Sox, and Mets) with spending.

soxfanreggie
08-05-2010, 06:36 AM
http://sports.espn.go.com/dallas/mlb/news/story?id=5436579

Ryan's group wins the bid for reportedly $593 million (total offer incl. cash, debt assumption, etc., including $385 million in cash.