is benemid legal in uk buy diamox online with mastercard generic atorvastatin vs lipitor side effects wellbutrin sr discount medications how much is adderall without insurance generic how to buy amoxicillin side effects of steroid prednisolone tablets how to import windows live mail account to outlook 2010 purple pharmacy algodones paroxetine cheap online without prescriptions nolvadex mist canada generic pills for avodart canada metformin tablets online cilas 1190 particle size analyzer prednisone without prescription medication what are the side effects of requip xl atarax buy online mexico remeron sales purchase live trout aceon online legally can you get motilium over counter donde comprar singulair tofranil ordering no prescription acheter risperdal en ligne prograf reviews how to use penegra tablets best pharmacy to order yagara nizoral spain over counter orlistat lawsuit settlements buy emsam 40 levitra drug in canada pharmacy heart attack nitroglycerin tablets aurochem india pvt ltd noida buy permethrin cream online no prescription keftab online overnight shipping buy rumalaya forte mg online buy blopress with a mastercard cytotec dosage for miscarriage methotrexate from europe brand advair diskus mail order nexium manufacturers in india how much does proventil cost how much will antabuse cost lithium prices today buy serpina cheap benicar pills buy viagra online forum offers wide can order moduretic canada como comprar brand cialis what does ashwagandha extract do where can i buy viagra in calgary xeloda tablets price is there a generic for luvox cr glycomet no prescription canada fast avodart deleviery best generic substitute for crestor buy albendazole 40 mg elavil medication guide albenza albendazole fast delivery prescription entocort prices cvs onlain kino limon acivir pills pills sweat symptoms of withdrawal from seroquel tamoxifen prescription only clomid and alcohol use plavix canadian product monograph erythromycin ophthalmic ointment usp uses legal purchase antibiotics online canada drugs cytotec with prescription buy amitriptyline line pharmacies buy cheap digoxin pills lisinopril 20mg tab cafergot order online no prescription buy phenergan with lithium paypal depakote buy no prescription what is zovirax 5 ointment used for bactroban over the counter zocor dose order brand advair diskus 120 mg drugstore advair diskus shipping purchase diltiazem cheap doxycycline overseas allopurinol contraindications cautions bupropion generic equivalent buy eldepryl mg online where lopid order voltaren from canada without prescription zovirax pill canadian rumalaya gel shopping dostinex daily use reviews 50mg viagra street price erythromycin tablets 250mg side effects sale arjuna online buy cheap pet alligator snapping turtle for sale omeprazole 20 mg twice daily colchicine in usa promethazine codeine drug class buy tinidazole discount is mail order suprax safe compazine from usa pharmacy aleve canada overnight delivery ampicillin order allegra from usa pharmacy dispersible aciclovir tablets bp 400mg revia side effects weight gain celexa online in usa zyprexa generico online wahl lithium ion costco neurontin medication information health canada warning celexa generic confido no prescription cheapest price for crestor abana discount no prescription medrol suppliers overseas best place to order albenza in us cheapest feldene in the uk cost of seroquel 50 mg medication for anxiety disorder and panic attacks where to get ashwagandha vendita viagra on line italia differin gel price philippines buy antibiotics online from canada ortho tri cyclen acne worse before better where can i get allopurinol pills misoprostol buy no prescription comprar minipress portugal how to get female cialis in australia generico de tadalafila triamterene for sale philippines order indinavir celebrex 200mg celecoxib capsules metformin on canadian pharmacy website high dose revatio buy brand levitra mg free coupon for acivir pills comprar lexapro original online pharmacy uk mycelex-g evecare shoppers drug mart be-tabs prednisone 5 mg tablets orlistat birth control online canada what medicine has promethazine and codeine how to use metformin for weight loss does ceftin cause weight gain bupropion phone orders buy atorlip-10 online with out prescription tadacip online coupon code buying viramune using paypal zoloft forum anxiety what is avalide used for lamisil online with out prescription levitra professional pharmacy mail order where to buy lithium ion batteries for cars can order lynoral canada where can i buy xenical in uk crestor pharmacy online cheap parlodel buy online viagra online bestellen paypal can a doctor write a prescription without seeing you akamin minocycline tablets generic atarax dosage where can i purchase floxin actoplus met discount voucher how often to use advair diskus femara legal us allison iraheta i can;t make you love me lyrics fluoxetine 10 mg capsules generic lanoxin paypal lozol prescription only what does celebrex do for arthritis where can i buy tetracycline for acne generic benicar drug reviews on differin gel 0.1 celebrex reviews for spinal stenosis effexor xr dose range seroquel withdrawal insomnia how long buy liv 52 next day next day viagra uk comment acheter du ginseng order mobic where to lasix aviane generic for alesse what is azithromycin used for antibiotics buy flagyl low cheap price comprar decadron portugal suprax buy online ireland indian generics online cialis super active non prescription olanzapine saw palmetto without insurance beat way to order forzest aspirin price uk order ralista cheap maxifort zimax medicine nymphomax for sale uk glyburide dosage during pregnancy what is arthritis of the spine can people get high off robaxin cheap generic nimotop buy aciclovir low cheap price can you order coumadin paroxetine 5mg tablets cobra vega extra strong 120 mg buy rocaltrol next day sinemet spain generic indinavir in usa flagyl 500 precio argentina elimite shop wellbutrin dosage for smoking cessation can ginseng help you get pregnant celexa citalopram medication for children purchase actos 15mg flagyl online overnight buy alesse 38 canada what types of lithium are there brand name evista online paxil suppliers overseas how much trazodone for sleep popular pills online compra cialis italy purchase trimox online non generic danazol top 10 online alesse sites buy duphalac in singapore can you buy suprax in ireland what is metoclopramide for dogs used for purchase progaine 5 cheap can you split metformin pills antibuse online with no prescription glyset women buy comprar glucophage en argentina azithromycin dosage for children with strep throat actonel generic equivalent finasteride tablets 1mg review viagra over counter australia cefixime 200 cost revista veja on line acervo coversyl 2mg doctissimo legal to buy revatio clarithromycin better than erythromycin cheap generic procardia buy generic diovan pharmacy mexico diclofenac gel hytrin echeck side effects of chloroquine how long does it take for prednisone to work for bronchitis costco lithium batteries best generic cialis online buy female cialis visa buy lisinopril singapore prednisone dose for bells palsy treatment abilify with wellbutrin reviews comprar roacutan eua nolva, no prescription metoclopramide without a script cipro to buy from europe online pharmacy diflucan buy prilosec with selection buy lopid uk cheap abilify 25 mg myambutol prescription only canadian pharmacy cialis professional 5mg buying xalatan overnight discount buy generic aricept online what is allopurinol for gout buy penegra online buy saw palmetto oil philippines nizagara review buy viagra professional overseas diabetes medication glucophage side effects should i do a second round of accutane aleve no rx buy cleocin 100mg online revatio sales 2011 hydrochlorothiazide triamterene shortage betapace pills sweat silagra medication order ovulation signs and symptoms on clomid trental rx list online pharmacy uk maxaman ditropan tablets on line to buy norvasc from walmart comprar nymphomax original en madrid buy doxycycline online with out prescription 400 mg viagra hydrochlorothiazide safe dose range how to buy caverta in london reminyl results forum dostinex on line in the india celexa discounted topamax drug combination for weight loss use fertomid coupon online motrin no script buy avodart no prescription over the counter drugs adalat cc online prescription free pharmacy brand amoxil shortage olanzapine tablets uses unisom prescription coupon 100 mg abilify rhinathiol for children cheap ed pills online can you buy proventil hfa allergic going off synthroid side effects tadacip australia price donde puedo comprar p57 hoodia alli available now xenical sale australia where to get lithium ore many viagra do you get prescription buy nymphomax patch cheap airport parking liverpool john lennon order furosimide online order micardis online uk paco rabanne eau de calandre cheapest where to atorlip-10 buy depakote quick med cab wellbutrin sr is decadron over the counter can i get prandin nizagara without prescriptions viagra sildenafil citrate florida nimotop suppliers of decadron in us remeron medicine depression robaxin pharmacies prednisolone no prescription overnight delivery exelon for purchase sale order viagra jellyfish provera on line no script weaning off paxil cr cleocin 20 mg online cordarone india order endep online with visa phone in order for serpina can order alesse canada pfizer coupons company manor pharmacy wheathampstead lopid online in usa buy kamagra singapore order levaquin lowest price where to purchase viagra super active what is doxycycline used for in cats how long to use plavix antivert shoppers drug mart can you take accutane second time tofranil in croatia sildenafil citrate effects on women mobic dose range buying omnicef in manchester generic elimite amoxicillin 500mg dosage for tooth abscess mail order inderal online pilex reviews para que sirve cicloferon aciclovir quickest bupropion prescription where to revia prandin 0 5 mg comprar compare prices on generic levitra how to get mentax in australia propranolol for men sale in uk can you buy sublingual in ireland online drug shop cialis overnight shipping how much does tenormin cost amitriptyline max dose finax shortage 2012 septilin cheap rhinocort nasal spray best place to order isoptin in us levlen 20 mg side effects of diamox acetazolamide ortho tri cyclen fast india current price finpecia can i get pregnant using metformin acai and prescription drug interaction levothyroxine weight loss hypothyroidism phenergan syrup dose in children order endep lowest price order singulair online uk inderal shortage 2012 hong kong buy cheap flonase online generic periactin 4 mg per mail order zahlen can you get paxil femara drugstore com meridia 15 cena indocin online usa western lithium usa aktie where purchase kamagra gold zyban generic price buy generic decadron online lexapro generic available date cheap lipothin usa florinef pill shop discount code prescription mobic drug pyridium 200 side effects what class of drugs is zoloft prescription medicines online half price xalatan cialis delivery next day original plendil online non persciption pariet septilin generic reviews generic erythromycin paypal acquisto cialis generico italia estrace cost canadian mexico allegra d prescription customer skelaxin next day anafranil costco where to buy american ginseng in canada buy trimox online with mastercard strattera for people without adhd avodart 40mg how much gabapentin get you high can you buy with paypal on amazon cialis mg price safe buy canadian pharmacy en que actos se usa la escarapela cheap cozaar 12.5 mg benefits and side effects of siberian ginseng where purchase viagra jelly female cialis tablets 150 mg trental woldwide shipping all types estrace pills generic xenical online mexico low price actos uk how long does zyrtec d take to work order terramycin from where cozaar high blood pressure where can i buy cialis in australia with paypal order elavil online discounts home content insurance cheap alesse uk free shipping overnight sominex capsules 5mg cialis reviews coversyl generic usa is there a female equivalent of viagra ciprofloxacina posologia cistite proscar without script can order betnovate canada cipro side effects long term midamor tablets from buy how to use dulcolax to lose weight viamedic complaints lopressor iv push accutane side effects health canada lipothin tablets purchase on line donde puedo comprar carafate doxycycline max dose generic pills for flagyl er lukol tablets 60 buy prednisone online from uk can buy propecia boots viagra 100mg filmtabletten preis us online pharmacy no prescription methotrexate canada drugs brand levitra with prescription purchase aricept donepezil lipothin lawsuit canada flex benefit accounts cialis zantac tablets 300mg medrol online legally generic from cialis sublingual best generic alternative lexapro what does topamax for weight loss primatene mist inhaler cvs lipitor prescription drug zebeta over counter clomid side effects after ovulation non persciption stromectol how to use levitra 10mg buying femara using paypal order nitrofurantoin online in usa amantadine without prescription miami canadian meds store generic vasotec no prescription levitra super active shipping overseas phenergan dosage pediatric ciprofloxacino alter 750 overnight delivery generic cymbalta is there a shortage of sinemet cost of benadryl allergy generic mobic overnite shipping exelon cost in canada oral medication for ringworm in humans sominex where to purchase comprar viagra super active portugal amitriptyline where to get buy brafix new zealand online metformin maximum recommended dose nike air max men 2011 lamisil mg uk buy over the counter doxazosin online health canada confido accutane 40 mg online pharmacy liquid revatio review can i get high off bentyl Purchase abilify 2mg lowest buy genuine prilosec uk ordering brand pills purchase viagra how much will pletal cost buy cheap revia order motilium no prescription how to use my pulmicort flexhaler buy reminyl boots pharmacy generic entocort mylan atrovent n cena 100 where to buy nizoral anti dandruff shampoo levothroid prescription information over the counter erection packs 1 dostinex company pariet online overnight are drugs from india safe to use sarafem paypal rogaine 5 price in india buy over the counter cyklokapron online depo provera dose calendar micardis overseas chlamydia in men symptoms estrace pharmacy himplasia without a prescription mircette tablets uses wellbutrin lowest prices seroquel reviews and dosage buy clomid canada online fable 3 comment acheter alliance photo of viagras head office in toronto canada what is sertraline hcl 50 mg used for buy cheap tamoxifen citrate motrin not generic cialis soft 20 mg india seroquel price fosamax prices at costco ranitidine medication online naltrexone implant cost usa is it illegal to buy the abortion pill online what is keftab for atomoxetine hydrochloride 40 mg online pharmacy uk innopran xl sildenafil rx drugstore online protonix reviews american ginseng root benefits what is domperidone is there a generic form of rhinocort ortho tri-cyclen buy uk where to get prometh with codeine cough syrup
Home MLB News MLB Club Sales Texas Rangers Voluntarily Go Into Chapter 11 Bankruptcy to Finish Sale to Greenberg/Ryan Group

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 944 guests online

Atom RSS

Texas Rangers Voluntarily Go Into Chapter 11 Bankruptcy to Finish Sale to Greenberg/Ryan Group PDF Print E-mail
User Rating: / 20
MLB Club Sales
Written by Maury Brown   
Monday, 24 May 2010 10:19

Texas Rangers


Texas Rangers Baseball Partners, the current owners of the Texas Rangers Baseball Club, and Rangers Baseball Express, the local investor group led by team president Nolan Ryan and Chuck Greenberg, today announced a plan to facilitate completion of the previously announced sale of the Club to the Greenberg-Ryan group.  The sale of the Club and its lease of the Rangers Ballpark in Arlington, together with the separate sale of the land around the Ballpark, have an aggregate transaction value of approximately $575 million.

The Rangers sale will be accomplished through a voluntary, “prepackaged,” court-supervised process under Chapter 11 of the U.S. Bankruptcy Code pursuant to a plan previously negotiated and agreed to by the current Rangers owners and the Greenberg-Ryan group.  The prepackaged plan, which is supported by Major League Baseball, current Rangers ownership, and the Greenberg-Ryan group, provides sufficient sale proceeds for the Rangers creditors to recover 100 percent of the portion of HSG Sports Group’s debt that is guaranteed by the Rangers and for all Rangers creditors to be paid in full.

Texas Rangers Baseball Partners has requested that a hearing be held in 45 days to confirm the proposed sale and plan of reorganization.  The sale is expected to be completed by mid-summer, subject to court approval, which will then allow the franchise to exit the Chapter 11 process.

It should be noted, Hicks Sports Group, the holding company that is attempting to complete the sale to the Greenberg/Ryan group is $525 million in debt to 40 creditors. Those creditors and HSG have been at a stalemate over the sale for months. The latest restructure plan by Texas Rangers Baseball Partners, with MLB's blessing, was not made known to the creditors in advance of the announcement today. With the plan ostensibly fulfilling the debt surrounding the Rangers sale, it is unknown what legal footing the creditors have in chellenging the move.

“This plan to complete the sale of the Texas Rangers serves the best interests of the team, its fans, MLB and all other parties involved,” said Baseball Commissioner Allan H. (Bud) Selig.  “This agreement assures an orderly process to expeditiously transfer Rangers ownership to the Greenberg-Ryan group, and it protects the franchise’s baseball operations.  Rangers fans can have confidence that their team has the resources it needs to compete.  Clearly, this could not and would not have happened without Tom Hicks’ leadership and hard work over a long period of time.”

This process and sale are expected to have no impact on Rangers baseball operations.  While the sale is being completed, the current owners will continue to have control of the Club.  Motions have been filed with the court in order that:

  • The Rangers will be able to operate within their existing budget to sign and acquire amateur, international and professional players
  • Ticket prices remain the same and purchased tickets will continue to be honored
  • The fan experience at Rangers Ballpark will be unchanged, with all current amenities and promotions continuing as usual
  • All salaries will be paid
  • Rangers vendors and suppliers will be paid in full

“Since 1998, our family has taken great pride and joy in our association with the Rangers,” said Tom Hicks, who will be Chairman Emeritus of the Rangers.  “We are proud to play an active role in resolving the deadlock in this complex sale process.  Rangers fans deserve management’s full focus on baseball operations, and Nolan, Chuck and their colleagues will be outstanding stewards of the Rangers.  We stand ready to support them in every way possible, and as huge fans we will continue to cheer the Rangers on to the ultimate goal of a World Series championship.”

“Our goal is to move forward with our plan to create a long-term record of success and championships,” said Nolan Ryan, who will continue to serve as Rangers president.  “We will achieve that by being active in the player acquisition market as well as our ongoing commitment to develop players through one of the league’s best farm systems.”

“We are pleased to take this important step towards completion of our transaction,” said Chuck Greenberg.  “Tom Hicks has laid the groundwork for this sale in a manner that best addresses the interests of the Texas Rangers as well as all parties that have a stake in the team.  His agreement to sell the land around the Ballpark  in order to facilitate the sale of the Rangers is just one example of how he has been instrumental in achieving a result that is best for the franchise and its fans.  For our group, the focus will be on rewarding Rangers fans with great performance on the field and memorable experiences in the stands and in the community.”

“Nolan Ryan has a proven track record with MLB club owners and I am prepared to submit this to the owners promptly for their approval,” said Selig.  “Chuck Greenberg and this group of local investors are dedicated to building the franchise’s value and continuing the team’s contributions to the Dallas-Fort Worth community.”

MLB has agreed to provide the Rangers with a new credit facility to ensure that the Club continues to meet all of its obligations while the sale is being completed.

In a separate transaction, Ballpark Real Estate, L.P., an independent investment vehicle controlled by Tom Hicks, whose family also controls HSG Sports Group and its subsidiary Texas Rangers Baseball Partners, entered into an agreement to sell or transfer to the Greenberg-Ryan group approximately 153 of the 195 acres around the Ballpark and Cowboys Stadium that is owned or controlled by Ballpark Real Estate or the Hicks family.  Rangers Baseball Express required this land as a condition to its willingness to purchase the Texas Rangers.  In return for the transferred land, Ballpark Real Estate will receive cash, notes, and an ownership position in Rangers Baseball Express.

HSG Sports Group and its other primary asset, the Dallas Stars hockey team, are not included in the filing.

The filing took place in the U.S. Bankruptcy Court for the Northern District of Texas in Fort Worth.  The Rangers filed customary “First Day Motions” with the Court, which are intended to ensure that the process is seamless and has no adverse impact on the Club’s operations, employees and suppliers.

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, as well as a contributor to Forbes SportsMoney blog. 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.

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?