north wyoming insurance discount pharmacy in us online cheap drugs no script kanggoroo pils buy prednisolone 5mg uk ciprofloxacin no prescription hcl how to get viriga vibrox medicine haykakan nor filmer mometasone furoate cream usp 0.1 uses no prescription canada pharmacy cheap adhd medication from canada comprar viagra americano wellbutrin online order legal come comprare farmaci on line vibramycin dosage for cats manforce viagra ottowa canada pharmacies online lamictal rash photos clomid twins pills for sell frumil fortean purchase viagra thru canada epogen side effects in cats albuterol nebulizer treatment cpt code celas and viagra pharmacie en ligne viagra canada ranbaxy pharmaceuticals india vasotec medication dose ephedraxin review promethazine 25mg suppositories depomedrol injection for dogs cabaser tablets scored moduretic dosage of benadryl cheap deltasone benadryl and pregnancy risk kamagra 25mg what is closest to nexium misoprostol for abortion subutex withdrawal in newborns obagi tretinoin cream 0 1 arimidex visa phentermine information phentermine 37.5 minomycin information allopurinol medications viagra fast delieverly remeron withdrawal symptoms itching careprost eyelash side effects best price viagra usa viagra scaduto a\u0083a pericoloso armodafinil nuvigil and weight loss grifulvin v micr 500 side effects order viagara on line free proventil inhaler coupons allegra coupons in sunday paper atacand candesartan cilexetil 32mg phentermine diet pills colchicine gout buying hydrocodone while in canada avelox 400mg side effects ospamox antibiotics finasteride for cheap india pharmacy cheapest cialis avelox antibiotic law suits mircette online without prescription vrdrug medicine wheel ativan dosage medications valtrex dosage for cold sores cost saroten retard 25 mg dilantin pain killers lantus solostar price flomax dosage dicyclomine hydrochloride abuse cialis generika aus deutschland catafast 50mg buy betnesol drops cefovex 500 uses for amoxil 875 mg elocom crema prednisone 40mg buy penicillin vk without prescription cialis from china liquid ranitidine for infants viagra price in south africa claravis prescription coupons sominex ingredients tablets sureway livery service in chicago strattera medication assistance program finasteride for hair loss in women lidoderm coupon patient assistance soma no prisciption estradiol norethindrone acetate transdermal system accutane canada fentanyl patch abuse methods how to asthma symptoms in adults food generic viagra for sale in the usa aggrenox medication and plavix hoodia gordonii plus reviews side effects cialis a vendre viagra via internet viagra online auf rechnung buy viagra online canada gupisone 20 dose description of heaven can you buy actavis online alli buy in us cialis liquid form non prescription tadalafil tablets prednisone vs methylprednisolone buy viagra south africa donormyl ingredients for lasagna ashwagandha powder for weight alendronate side effects captopril side effects drugs zolpidem er 12.5mg wikipedia morphine pills identification comprar cialis en miami ramipril 10mg best price on viagra from canada need to buy indocin digoxin toxicity signs and symptoms mexico lantus suhagraat information in urdu video zyrtec for children under 2 warfarin side effects hair loss buy sildenafil citrate 100mg online prednisone 20 mg 5 days advair diskus coupon card levitra maximum dosage naproxen sodium 500 mg alli diet pills buy lantus insulin side effects drug interactions is nymphomax available in kerala triamterene h sobhan amoxicillin and alcohol interactions phenergan dosages for children zestril 20mg cost cialis 10mg price no prescription generic viagra online viagra rezeptfrei ganstig kaufen pharmacy expense report naproxen vs ibuprofen for inflammatory buy fluconazole from india how to buy virga 50mg acheter viagra ou cialis pharmacy prescription free europe cefadroxil side effects in children nizoral cream revapol pastillas prednisone purchase cyotec oregon buy inhalers online usa bactrim over the counter 20 mg cialis too much losartan side effects medication can cialis be purchased in ecuador adipex side effects hair loss sifrol tablets livial tibolone usa aristocort cream zithrogen 500 days morphine sulfate 15mg is cialis covered by medicare milanuncios barcelona catalonia buy colchicine without a prescription celebrex 200 mg coupons metronidazole cream como ordenar viagra prednisolone acetate eye drops for dogs cheap celebrex lipitor refills buy metronidazole 500mg doxyclcline dosage for ulcer yasminelle pills tadalafil soft gel capsule buy paxil cr no prescription coltricine no prescription skelaxin 800 mg metaxalone price cialis 40mg tabs order sotalex medication side acomplia 20mg pills vytorin 10 40 side effects lamotrigine lamictal side effects rash terbutaline sulfate 2.5mg viagra bestellen per nachnahme unisom in singapore buy viagracheap indapamide 1.25 mg purchasing inderal omeprazole 20 mg capsule side effects subutex withdrawal suboxone pfizer viagra online pharmacy rhinc inc lady era tablets ketorolac tromethamine injection uses amantadina nombres comerciales de prednisona lumigan 0.01 rebate tadalafil soft canada terramycin powder seroxat withdrawal zovirax cream 5 reviews clenbuterol weight loss results pictures clenbuterol for sale in mexico max viagra pills zoloft and pregnancy class viagra uk next day delivery sildenafil for sale safeway pharmacy generic list cialis with dapoxetine review pramipexole 0.125 mg side effects estrofem no prescription australia quanto costa il viagra in francia cialis price at walgreens linezolid antibiotics drugs list nasonex coupon offer printable coupons 2015 viagra brand for sale cytotec para abortar viagra pills buying 20 pills s furosemide 20 mg lasix sertraline hydrochloride side effects otc equivalent to singular cialis orosolubile buy zebeta 10mg online no prescription nitrazepam vs diazepam for dogs glipizide side effects medication what is flagyl 500mg used for minocin side effects antibiotic buy perrigo mometasone furoate cream buy dilantin no script zovirax acyclovir medication dose claravis side effects treatment buy metronidazole 500mg online tapiales hoyt ramipril side effects drug buy viagra in playa del carmen 214 aricept medication for alzheimers buy fluoxitine without a prescription septra bactrim side effects kamagrafast brighton ski clozapine drug interactions allegra d lantus patient assistance phone numbers free sc norvasc to buy xatral od10xeloda albuterol detox colospan tablet for kids eprex erythropoietin androgel bodybuilding bodybuilders como compro viagra atacand hct 32 12.5mg coupon furosemide vendite what is parafortan levitra in usa zetia online india no prescription using subutex for pain management amantadina clorhidrato de ambroxol antabuse to purchase zoloft online without a prescription flagyl dosage for c difficile ospamox 500mg prospect cleocin hcl 150mg misoprostol for miscarriage what to expect fanegada colombia buspar and weight gain side effects cymbalta fibromyalgia side effects weight gain propranolol overdose suicide global pharmacy canada complaints buy brand name cialis exelon corp cialis online from europe diamox side effects acetazolamide side signs of zanaflex overdosezanaxzantac zopiclone 7.5mg by actavis pharma pharmacy online plendil er flagyl treat a gum infection buying finasteride in canada kamagra 247 review asthma action plan template how to parachute wellbutrin valium 5mg side effects craigslist viagra canada captopril renal scan protocol cicloferon aciclovir suspension concor bisoprolol fumarate side effects flomax 0.4 mg cost malaseb shampoo sildenafil citrate 100mg tab directions ketazol venezuela map flovent coupons glaxosmithkline cialis 5 mg prezzo in farmacia ranbaxy news trimetabol posologie celestene suhagra 100 side effects periactin no prescription require places that sell lotrel astelin nasal spray reviews ventolin 100 mg temazepam buy in line where to buy quinine water for leg cramps wath is the store to buy viagra buy tetracycline in the uk legit overnight antibiotics aspirin for dogs is it safe quinine tonic water buy clonidine california generic aricept no prescription buy pills without a prescription doxycycline hyclate acne reviews valtrex overnight delivery dynamogen drugstore no prescription methylprednisone ventolin nebules for baby risnia medicine cabinets avodart side effects mayo clinic phenamax reviews apcalis sx 20mg jellyfish brand viagra pfizer sale four corners pharmacy new zealand losartan hydrochlorothiazide generic is superdrugsaver legit celecoxib drug side effects indomethacin 50mg roaccutane acne medicationrocaltrol tesco buy cialis buy fentanyl no prescription imuran shortage diane kruger measurements best online pharmacy to buy zepose canadian pharmacy for pets free aggrenox coupon cialis jovenes where can you buy mebendazole over the counter tramol online u k cialis genetic canada cheap zofran online pfizer jobs collegeville pa paracetamol side effects medicine sumycin syrup denver rogaine side effects on women chlamydia treatment antibiotics long term esomeprazole side effects clozapine monitoring teva pil perancang marvelon cytotec no rx diclofenaco 100 mg para que sirve isoniazid side effects medication tingling pulmicort flexhaler 180 side effects viagra generic india perfect ed meds review metrotab 400 pound calais pills from canada pharmacy domperidone for gastroparesis warnings viagra originale online allopurinol side effects kidney vipps online phamarcy lamisil oral medication ivermectin for humans for lice percocet 512 information prescription propranolol dosage for social anxiety rocket raccoon guardians of the galaxy buy fruesomide pills levitra et jus de pamplemousse how to buy viagra in cambodia how much saraquills vytorin 10/40mg tablets inhaler from canada no prescription lexapro dosages ivermectin and praziquantel for horses rx relief card consumer reports arthrotec 75 mg medication xenical 120 mg atorvastatin 40 mg no prescription cozaar medicine info can i take 4 cialis 5 mg canada drugs no prescription cymbalta side effects cymbalta and weight gain diroton 20mg cialis myambutol ethambutol side where to buy accutane alendronate fosamax medication classification buy azithromycin or ceftriaxone now zyrtec 10mg over the counter virectin ingredients in beer sertraline hcl side effects furadonin runescape apertium translator online lolwest price for super viagra bystolic 5 mg online hydrodiuril 25 mg side effects atarax medicine for itching avastin and xeloda colon cancer vitamin shoppe return policy cipro 500mg flagyl 500mg antibiotic buy most reliable online pharmacy discount euro first achat service hyzaar dosage alli refill myambutol ati technologies buying levitra tablets order tretinoin 0 1 cream online cefaclor 250mg prospect robaxin for dogs shaking panting india pharmach buy ventolin on line generic viagra india safe florinef 0.1mg tab cialis generico sicuro luvox generic brand nolvadex canada viagra china supplier tadalafil c100 for sale doxycycline cost lose weight nlinephamacy no prescription com para que sirve el sildenafil arcoxia 60mg no 30 flexamin 1box famciclovir drug medication non prescription elimite rayhhealthcare online order medication price of crestor without insurance wellbutrin dosage for depression lamictal in australia website levaquin vs zithromax for sinus infection ladies viagra tablets in india caffeine anhydrous side effects buy ampicillin online buy viagra online thailand 1742 buy tinidazole 500mg wellbutrin reviews on weight loss canada pharmacy no prescription motilium 10mg indications zocor generic names kemadrin injection sites cialis with dapoxetine for sale canada clindamycin for dogs antibiotic side effects aldara cream for molluscum contagiosum vidalista 20 mg como conprar cialis obestat meridiano alli orlistat online buy review cialis once a day reviews metronidazole for dogs no rx 365pills complaints about companies how to buy premarin without rx duphaston et douleurs poitrine latisse for eyebrows results tricilest uk yahoo buy proventil inhaler cheap viagra without a script acivir tablets asthma action plan example sominex active ingredient free viagra for women primatene mist available in canada valtrex 500 mg caplet bisoprolol fumarate beta blockers temovate gel for alopecia areata sildenafil citrate dapoxetine to buy online cialis scams buy bactrim without a prescription where to buy cheap viagra super force navidoxine tablet leaflet fempro tablets order suprax no prescription cockapoo puppies for sale in texas clavaseptin tablets for dogs printable voltaren gel coupon viagra in france teva amoxicillin prometrium 100mg cap solvay buy viagra in sa online canadiaan drugstore sekking fluconazole bupropion hcl xl 300 mg costs doxycycline for dog no rx necessary relafen nabumetone medication information buy clomid online lexapro generic march 2012 omaggio hadley 1993 dyazide 37.5 mg 25 mg capsule minocin antibiotic dosage hyzaar dosage merck what is the correct dosage of cytotec permethrin 10 mixing instructions for horses crestor medication for cholesterol buy antibiotics usa lidocaine patch 5 side effects citalapram 10mg for sale lamictal rash photo lumigan generic brand cefabiot suspension bridges imitrex sumatriptan succinate cost do old viagra pills still work brand vioagra from mexico when is viagra going generic estradiol levels ivf pregnant man thomas beatie baby lexapro dosage for anxiety differin gel 0.3 side effects cipla india pharmaceutical virectin complaints the best fertility pills for men selling cytotec
Home Maury Brown How Chuck Greenberg Won The Texas Rangers

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 867 guests online

Atom RSS

How Chuck Greenberg Won The Texas Rangers PDF Print E-mail
User Rating: / 20
Written by Maury Brown   
Wednesday, 16 December 2009 02:02
Chuck Greenberg
Chuck Greenberg, by bring in Nolan Ryan,
and solid local group of investors, made
him the savviest of the three bidders for
the Texas Rangers.

If there’s one thing that Bud Selig and the 30 owners in MLB have done in near lockstep over the last decade or so, it’s been to embrace being “conservative”. Selig, and the old guard owners such as Jerry Reinsdorf can remember far too well the tail-chasing that the owners dealt with when the likes of Ted Turner or Charlie Finley were in the Lodge. Mavericks, they were. Bold, brash, and mostly brilliant, they drove a wedge between the owners, and drove the likes of Bowie Kuhn and Fay Vincent nuts.

Now, nearly every owner that has come into the ownership ranks follows Selig’s lead, and, for the most part, the 30 of them have avoided controversy.

There have been exceptions, as of late. Whether it has been divorce (Moores, and the McCourts) or the economy, few clubs have not felt a pinch over the last two years through an economic downturn the likes of which haven’t been seen since the Great Depression.

How Greenberg (& Ryan) Won the Day

Tom Hicks certainly has felt the economy give him a punch in the ribs. The owner of not only the Texas Rangers, but Dallas Stars of the NHL, and co-owner of soccer’s England’s Liverpool club of the Premier League, his Hicks Sports Group fell into massive debt after defaulting on interest payments for $525 million in syndicated bank loans in April of this year. In May, under the stress of the default, Hicks said he would consider selling the controlling interest in the Rangers, and the bidding game was on.

Profiling the final three bidders (see Sizing Up the Sale of the Texas Rangers), the fact that Chuck Greenberg’s group has been selected as the exclusive bidder in the sales process seems to have been the logical route since May.

Greenberg and current Rangers president and Hall of Fame pitcher Nolan Ryan bonded early on, a near critical move on Greenberg’s part. Ryan made it clear from the outset that he was interested in being an owner of the Rangers, but lacked the capital to be the controlling interest.

If you look at the sale of the Nationals, and Cubs, a key component to the ownership group makeup has centered around local investors. MLB loves this aspect as local owners are more likely to take an interest in the wellbeing of the franchise (how it performs, both on the field, and in the business community is reflective of the local owners that live where the club resides), and the community has a sense that the group has their best interest, at heart. Greenberg and Ryan built that aspect into the group (reports are that up to 80 percent of the group is local).

As for the other two finalists, Gilbert, the former player agent that made his fortunes in the insurance industry, more or less, shot himself in the foot by wanting to be in charge of baseball operations, if he landed the club. That did not sit well with Ryan.

"I told Tom that I didn’t feel like I would stay with the ballclub if Dennis came in under that scenario — Dennis overseeing the day-to-day operations,” said Ryan earlier this month.

As mentioned at the outset, overly ambitious owners are not the current mold for MLB. Given the high standing Ryan has, both as an executive and as a former player, every effort would need to be made to keep him as part of any group that eventually was selected by Hicks. Even with Gilbert having White Sox owner Jerry Reinsdorf in his corner, having a former agent running the baseball operations after Ryan left the organization would certainly have raised eyebrows within the ownership ranks, and for a large majority of Rangers fans.

Concerning Houston businessman, Jim Crane, you either paint him as a “never say die” bidder, or a pawn in the process. Reports late yesterday were describing Crane’s bid as the most likely winner, based upon his increased offer, but it also brought up the memory of Marc Utay’s group with the sale of the Cubs. In that instance, the Ricketts family were well past their 30 day exclusive negotiating window when the group lowered their offer after seeing how sweet the Cubs had made rights fees to the Tribune owned WGN was. The Ricketts group understood that without WGN in the sale, the rights fee would go up, so they brought down their offer. Tribune then opened up the bidding process again, which brought in Utay, a rival bidder, back into the process. That ginned up the Ricketts bid, and helped push the deal to conclusion.

With the Rangers, Crane likely played the part of Utay. A looming problem for Crane was the fact that no matter how high the bid offer, memories of him backing out of the purchase of the Houston Astros at the 11th hour still does not sit well with many of the owners. If approved by Hicks, there was a very real possibility that the needed 75 percent approval vote by the 30 owners would not be there.

When Crane reconfigured his bid to the highest offer, it worked to gin up the Greenberg/Ryan offer, which like clockwork, happened early Tuesday. That was all Hicks needed to announce that the Greenberg/Ryan group would enter into exclusive rights to negotiate the sale of the Rangers.

What’s Next?

While the title for this article is “How Chuck Greenberg Won The Texas Rangers”, Greenberg and Ryan haven’t “won” the Rangers, yet. In sports parlance, the Rangers are Greenberg’s and Ryan’s to lose as they now have 30 days to complete the sales agreement.

The Greenberg/Ryan group must now take what has been submitted as an offer figure, and turn it into reality. Based on how much debt the group needs to carry, getting credit through the banks – a once far easier venture – has become exceptionally difficult due to the tightened credit markets. This became the major hurdle for the Ricketts group in getting the deal finalized with Tribune for the Cubs, and why the exclusive negotiating window got extended well past 30 days. The Greenberg/Ryan group will most likely not come under the heavy weight of considerable debt, as the Cubs deal was, due to the design of the transaction; the Cubs deal was a leveraged partnership with the Tribune Co. that required a heavy amount of debt to be carried. Still, the group will have actually get the money headed in Hicks’ direction, rather than showing plans for the final bid on paper. It will be a case of no more talk, and all action.

What will be interesting is to see what the final figure winds up being. Greenberg gave Hicks an out by offering him a minority ownership position within the club. Given that Hicks had desired to retain a controlling interest, the fact that Greenberg and Ryan reached out to him to keep him in the fold had to have extra merit.

However, economics is the primary driver in the sales process, given the fact that Hicks is looking to pay down his considerable debt that is mounting daily, due to interest. If the sale price comes in-between $510-$550 million, as we projected in September, Hicks will reach most amount needed to address the debt, regardless of whether Crane’s bid was higher, or not.

Final Thoughts

A great deal of ink was spilled on who the final bidder would be. Jon Heyman of wrote two weeks ago that “Gilbert's group appears to have the clear lead now.” As early as this morning, T.R. Sullivan of, and Daniel Kaplan for the SportsBusiness Daily reported that Crane was the frontrunner, due to the increased offer. Both were plausible, and very likely possible as Hicks needed to make his decision on Tuesday. But, in many ways, the other bidders may have simply nudged the group that had the best ownership dynamic into place. It seemed that only a case of the Greenberg/Ryan group not making an offer tweak early Tuesday would have put them in real jeopardy. Now, the rubber will have to hit the road. Unless there is a collapse, the group will wind up at the helm of the Rangers most likely sometime just after the first of the year. MLB's owners hold its quarterly owners meetings in Phoenix, AZ just after the first of the year, and will most assuredly approve the deal, if sales agreement has been reached, or is near being fully finalized.

From the chatter on blogs and in forums, the fans are happy with the Greenberg/Ryan ownership profile. If Hicks gets the money he is seeking, then the deal appears to be a win-win for the Rangers, and importantly, their fans.

Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

Follow Maury Brown on Twitter Twitter

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook



Should MLB Force Jeffery Loria to Sell the Marlins?