berifen 50mg lovegra information technology kmart pharmacy generic d advantage rent a car denver airport primox por remeron without prescription 5mg cialis 360 day supply cialis and viagra together order viagra in canada on line salazopyrin en tabs 500mg metronidazole us online pharmacy medicines original viagra from canada brand viagra 50 mg for sale cheap accutane mirapex er .75 side effects vibrox medicine man glucotrol xl 5mg rogaine rebate formrollbox online pharmacy no prescription canada vegro 50 sildenafil tablets ip cerco pfizer viagra coupons from pfizer arthrotec medication for arthritis cardinal richelieu musketeers zocor medications vt logistics metformin mexico lamictal for depression and anxiety benemid probenecid colchicine sotalol hcl 80mg medicine macrodantin side effects in dogs mckesson promethazine with codeine natija dyal 9wilbat aliviosin dyal gholdor mens viagra epharmacy online calculator seroflo diskusije precio bioticaps silagra uk suppliers tenormin side effects doctor how can i get viagra without a doctor duloxetine hcl dr 30 mg side effects zestril on line affordable fenofibrate 160 mg cytotec medicine side effects alphagan p 0.1 cost generic viagra from canada remeron antidepressant remeron sleep indomethacin 25mg gout generic norvasc 10mg topiramate 50 mg tablet vicodin withdrawal symptoms addiction adalat serial dec 2013 you tube lasuna plantronics malaseb dog shampoo whats in it minocycline buy 50mg cataflam medication blood pressure pills online how to remove lasaoren search engine buy tetracycline ointment parkering vigra flyplassvigrande types of drugs viagra spain moduretic drug mart mirtazapine 30 mg tablet periactin appetite stimulant children norvasc 0 dollars 28 center cialis super active reviews decadron steroid side effects atenolol for anxiety disorder minoxidil 2 topical solution want to order viagra cialis online which is better viagra or cialis cenveo envelope medication without perscripton pay with check by phone winstrol v stanozolol for dogs advair side effects weight gain buy ssri online suhagra tablets buy femara uk world drugstore generic paypal maxifort zimax pills lyrics folcres panalabs where to get viagra prescribed ibuprofen 600mg tablets 19 avana stonebriar the colony tx phexin boats xeloda side effects stomach pain meclizine 12.5mg tablets for dogs purchase trazadone with mastercard cialas las vegas pharmacies paxil withdrawal side effects dermizol crematorium how to take cialis actavis promethazine codeine canada cytotec cuantas pastillas trae la caja amoxicillin no script meds prinivil lisinopril tablets accutane 60 mg percocet withdrawal symptoms acetaminophen viagra trial sample fluoxotine without a prescription anafranil 10mg oxycodone eltroxin 0 1mg is how many mcg viagra billig ohne rezept viagra canada pharmacy scam promethazine hcl purchase arava cycline enterprise coupon tryptizol drug mart amerimedrx model car prescription free viagra januvia medication blood sugar himcolin gel how to use in hindi augmentin canadian pharmacy cyrux misoprostol pills online cytotec donde comprar en usa floxin antibiotic dosage retin a 0 1 no prescription colcrys side effects death flonase over the counter version aciphex generics trileptal medication for seizures isoniazid side effects doctor comprar cialis por internet prednisone and alcohol interactions lumigan eye drops price were to buy viagra in alberta propranolol buy mastercard depakote er do i need a presciption for viagra sleeping boys rxrelief pharmacy discount card review como comprar viagra cialis gunstig kaufen 40mg citrate of magnesia laxative doctor carafate over the counter amiloride hcl side effects generika drugstore paranaque clomiphene 50mg for men terramycin ophthalmic ointment for humans mexico no rx viagra trimetabol uso etf paxil generics cheap zoloft no prescription tadapox in india magnesium citrate side effects benefits dr weil mirtazapine 15 mg tablet flagyl us pharmacy artane dosage information albenza dosagesalbutrolaldactone septra effect on prostatitis metallica songs written by dave mustaine provigil weight loss stories flonase otc or rx anafranil pills when does cialis peak cheapest propecia uk coversyl perindopril 4mg generic viagra for sale online viagra cheap sri lanka viagra acheter viagra contre remboursement online pharmacy uk no prescription ketrel crema amoxicillin 500mg capsules uses vipps online pharmacies for viagra price hydrocodone without insurance vigra vegetal atarax 25mg for anxiety xlpharmacy canada medicines from mexico zineryt cenacle laxifen tabletas digitalizadoras where to buy allgra d online duvadilan drug study pregnancy medication viagra online ordering prednisona efectos secundarios orderpharma reviews for fifty relafen uses amantadine medication for parkinsons cytotec side effects on baby sildenafila tantrix cialis 5mg from india toronto viagra pharmacy torontodrugstore online clopidogrel bisulfate plavix pharmacy near memphis tn macrobid for utis alli tablets discontinued insurance coverage for viagra rocket launchers at buyback staxyn 10 mg coupons comprar pfizer en estados unidos raloxifene hcl 60 mg diovan hct no prescriptions ephedraxins ingredients haloperidol dosages aprovel 150mg pret lantus coupons zyrtec coupons $5 2013 vibramycin side effects metformin and pregnancy test adderall and pregnancy safety naproxen vs ibuprofen thyroxine levels high india cipro celexa weight gain celexa drug para que sirve metronidazole 500mg levitra side effects long term chloroquine malaria dose home made viagra depakote toxicity level estrogen pill for purchase pharmacy rx 1 canada buy accutane no prescription overnight domperidone maleate used achat de viagra en ligne au canada generic viagra sample pack walgreens coupons policy comprar cialis de 5mg apertium wikipedia linezolid zyvox dosage www canadapharmacy 24 tylenol dosage chart by weight metformina 850 dosis recomendada de vitamina decadron no script overnight shipping canadian generic viagra echeck zithromax 250 mg uses tadalafil 200 bactrim antibiotic side effects diarrhea atarax medication for panic attacks buy domperidone gupisone prednisolone 5 mg usage of internet amoxicillin 875 mg forzest review womenra pills doxycap doxycycline acne voltaren dosing card printable terramycin ophthalmic ointment 1/8 oz nizoral shampoo hair loss women esomeprazole magnesium drugs buy neurontin from india viagra warfarin diet restrictions vitamin k permethrin spray clothing discount tadalafil viagra testpackung soviclor tabs for stairway zithromax nc buspirone 5mg side reviews buy haldol online thyroxine on line over the counter fertility pills overseas pharmacies linezolid common side effects buy cheap caverta cialis acquistp xlpharmacy coupon discount code insurance commissioner louisiana sustiva medication purchase viagra cheap optimmune o.2 3.5gm tube famvir medications zantac 150 and pregnancy pravastatin medication generic name cialis pricetesco 30 day free trial voltaren canadian cheap meds dostinex side effects cabergoline dostinex kamagra order uk prednisolone eye drops side effects in dogs medameds pharmacy schools dormidina opiniones de un orlistat 120mg capsules en espanol levlen 28 birth control generic zovirax buy online cialis fast cipro xr 1000 remplace le viagra suhagra 50mg trazodone cheap periactin pills metoprolol side effects metoprolol succinate lopid 600 mg triglycerides medication keflex and breastfeeding side effects prednisolone acetate ophthalmic suspension usp 1 for dogs doxazosin medication stanozolol for sale buy sildenafil 100mg irbesartan generic equivalent desyrel medication 100mg viamedic com veterans day 2015 bupropion hcl xl 300 mg metformin drug store canada cyproheptadine weight gain find discount cialis dalacin c antibiotic 300mg primox medication lowest price on viagra how can i buy warfarin 90 5 mg minocin for rheumatoid arthritis nolvadex pct cycle buy zopiclone usa viagra oneline in eu ceftin and alcohol interactions elavil no prescription minocycline cost without insurance ospamox prospect pret medazole 200 trileptal side effects children yasmine petty man temovate cream ixel milnacipran drug canesoral side effects yasminelle tablets for toddlers elocon cream and eczema pergotime tablets at walmart drugs no prescription needed ic diltiazem er side effects para que sirve clorfenamina midamor manufacturer couponminaknemincorp order clomid fast shipping low cost flomax without prescription vasotec dosage benazepril hydrochloride tablets 20 mg artane medication dosage atenolol side effects therapy dogs for anxiety doxazosin mesylate 2mg what is the novolog sliding scale chart effexor without prescriptions cialis online bulgaria venlafaxine 37.5mg price cefabiot 500mg equals donepezil without a prescrib ampicilina 500 dosis buy imigran recovery buy viagra pay with visa eutirox 25 mg bactrim online without a prescription canada 24 pharmacy europe pharmacy levitra dosage medication doctor buy viagrawith echeck or ach celebrex 200mg estrogen pills drugstore xenical cost canadian pharmacyniaspan thyroxine side effects canine buy minocin online paroxetine 30mg online india pharmacy stromectol 3mg tablet lopressor 25 mg iv zyrtec coupons where can i buy depokote with paypal generic cialis super active tetracycline buy canada north american pharmacy phenergan suppository dosage where to buy effexor over the counter arthritis of the spine pictures viagra vs cialis reviews nymphomax reveiws prescription viagra on line adderall canada pharmacy what is dyazide medication viagra senza ricetta in farmacia doxycycline hyclate 100 mg price of viagra shipped from usa to usa buy elimite cream without prescription order propecia 5 online coupons for cialis is it safe to take 2 5mg cialis pills what is the best viagra mg crestor rosuvastatin price 372 prometrium without prescriptions buy penicillin for std alfuzosin 10 mg daily nizagara vs viagra buy citodon viagra tablets in delhi aricept drug company prednisone 10mg dose pack directions zyban to quit smoking buy cialis ottawa roaccutane 40 mg usa pharmacy online reviews cleocin side effects medication best generic viagra differin coupon xenical south africa cialis pharmacy us online birth control can you buy ciprofloxacin 500 mg online buy telmisartan online canada healthcare mall motilium domperidone side effects cialis pills cheap nurse teaching for patients on exelon patch for alzheimers lorazepam informati best pills to get high zyprexa 0 dollars 63 cents topamax dosage weight loss nizoral shampoo where to buy generische apotheke hydroxyzine hcl side effects zestril dosages revia medication treatment buy cialis black comprare online kamagra l cream buy cialis 10mg uk doxycycline hyclate 100 mg for dogs vipps online phamarcy canadian valtrex trim active plus predisone with out script vibrox medicine ball polarmeds in canada they celebrate cialis israel zenegra reviews of 50 what drug is similar to stromectol antabuse implant uk norvasc 5 mg generic effexor withdrawal symptoms differin cream for wrinkles diazepam dosage for children lasix no rx xanax avant dentiste paxil side effects medications doxycycline hyclate 100mg sale phenergan and pregnancy tests lotrel side effects anxiety adipex diet pills cheap awc drug store phexin bd 750mg antibioticsphizerpiadas canadian pharmacy cialis ltd starcef capsule antabuse reaction diovan hct side effects cough morphine band t shirt buy cheap albendazole generic drugs online ivermectin scabies where to buy pamabrom vs lasix baytril otic drops viagra online with amex femara drug fertility buy decadron online cialis 100mg dosage prednisone for sale in mexico kamagra safe and cheap on line ceftin side effects weight gain cheap kamagra paypal uk has viagra price dropped acutane 10 mg online purchase order cialis by phone 73 robaxin dosage for dogs cialis brand what is donepezil medication used for viagra delivered to home mirapex medication cost levitra paypal vytorin coupons price of viagra in uk uk pharmacies ketoconazole generic bactrim 960mg glaxo cialis buy adalat serial 19 april 2014 decadron without a prescription vytorin medication info imitrex injections for migraines naprosyn side effects naproxen prevacid side effects in infants buy viagera online metformina clorhidrato 850 cialis generic vs brand buy tretinon cnbc radio viagra commercials buy viagra south africa nsu treatment antibiotic azithromycin potassium levels too high aldactone generic namesaldara what is amitriptylinehcl cardura 2mg dosage viagra 800 gold where to buy diabecon tablets zenegra generic viagra rogaine for men extra strength no prescription generic abilify cheap rhine ink finax finasteride cialis tadalafil lilly advair side effects dose beprogel lotion bottles stromectol dose amaryl medication side effects estradiol patch dosage crema elocom claravis side effects rash fentanyl transdermal patch strengths ospamox amoxicillin 1000mg
Home Maury Brown Maury Brown Answers Questions on the Texas Rangers Auction, What's In Store

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 1051 guests online

Atom RSS

Maury Brown Answers Questions on the Texas Rangers Auction, What's In Store PDF Print E-mail
User Rating: / 18
PoorBest 
Written by Maury Brown   
Saturday, 07 August 2010 15:35

Texas RangersThe sale of the Texas Rangers, its associated voluntary Chapter 11 and auction saga, for all intents and purposes is over (no, it hasn't closed yet, but there are no more road blocks), with the group led by Chuck Greenberg and Nolan Ryan preparing to take over the club on Aug 13, less than one week from today. Since the auction and confirmation hearing for a “pre-packaged plan” that saw four revisions (see the final, fourth version of the Plan), I’ve received a mountain of emails or inquires through my Twitter account, @BizballMaury. It should be noted that Jeff Wilson of the Star-Telegram got hit with some of the same questions that I will answer below, but I suggest checking Jeff’s answers as he got some that I did not, and vice-versa.

When does MLB vote to approve the Greenberg/Ryan group, and how?

The owners will convene in a face-to-face meeting on Aug. 12. It’s a given that 3/4 of the owners are going to vote to approve, with the ownership transfer sealed, but I would expect the vote to be unanimous.

There was talk that the group may be on the hook for Tom Hicks’ legal fees. Is that still in place?

The last and final version of the Plan that was signed off on does not include any provision for Hicks’ legal fees. He appears to be on his own in this regard.

How many members are within the investor group that will shortly own the Rangers?

Chuck Greennberg testified through the bankruptcy proceedings that there are 18 members.

Is there a complete listing of the owners?

No, and don’t expect it anytime soon. There are no plans currently to release all the names, and they may never do so.

Who do we know is within the group?

Two of the names everyone following this saga well knows. But, here’s a brief breakdown of the 5:

  • Chuck Greenberg – Pittsburgh minor league club owners and sports attorney that assisted in brokering the sale of the Pittsburgh Penguins out of bankruptcy to Mario Lemieux. He will assume the title of Managing Partner and CEO
  • Nolan Ryan – Hall of Fame pitcher and current President of the Rangers. His title will remain unchanged.
  • Bob R. Simpson – A key investor in the group. Simpson is the former CEO of  XTO Energy (SYMBOL: XTO) in Ft. Worth.  He will be co-chair for the board of directors of the investment group.
  • Ray C. Davis – The other key investor in the group. Davis is the former co-chair and co-CEO of Energy Transfer Partners, L.P. He will be the other co-chair for the board of directors of the investment group.
  • Charley Pride – Yes, he’s known as a historic country recording artist, but he was also a baseball player, pitching in 1952 for the Memphis Red Sox of the Negro American League, in 1953 for the Boise Yankees, the Class C farm team for the New York Yankees, the Louisville Clippers and also for the Birmingham Black Barons. He is a minority investor.

Do we know how many of the investors are local?

Eighty-five percent of the investor group and the associated money in the purchase is from the Dallas/Ft. Worth metroplex area

There was so much talk that the $70 million 154 acre land deal was critical to any ownership taking over. Greenberg/Ryan terminated the deal just before the auction. Are they losing parking revenues?

The answer, at least for now, is no… At least for Rangers games. The group will have access to the parking revenues through at least next year. After that, the land could once again could surface.

Is Tom Hicks involved in the organization in any capacity after the 12th?

No. When the land deal was terminated, so were any ties to Hicks. He will likely retain his seats at the Ballpark, but will have no have no standing with the organization.

The sale price was clearly more than the group was looking to spend. Does that mean that the group will be altering plans?

While it’s clear the group paid more than it had hoped to, their operating budget was not impacted. Player payroll is expected to increase over a two to three year period to around $90 million, up from the $55.25 million Opening Day payroll this season.

It seemed that group was stalling when the auction started. What was the deal?

The auction was supposed to start at 9am but it really wasn’t until approx. 4pm that the Greenberg/Ryan group knew what was on the table. Before then, it was all a huge debate, based on the structure of the Cuban/Crane initial bid, whether it was even qualified. It was from there that matters started to slowly pick up in the auction process.

What was the tipping point in the auction?

If there was key point where the auction tipped in favor of Greenberg/Ryan it was when they moved up with the $385 million bid shortly after the Cuban group put the $365 million bid with $12 million in escrow as the high point. When it was clear that the Greenberg/Ryan group was willing to go over the minimum bid of $2 million overbid, the group conceded.

Who was the winner in this whole process?

Greenberg/Ryan wound up with the team, but it’s clear the creditors were the real winners. Sal Galatito, a second-lien lender nixed a $361 million deal that was on the table on Tues. night that would have avoided the auction process.

Did Greenberg/Ryan approach the lenders on the nixed deal, or the other way around?

The lenders approached Greenberg/Ryan, which means they could have had concerns about how the auction process might go with Crane and Cuban.

Wasn’t there what is called an Intercreditor Agreement in play?

This is a confusing part. There was an agreement in place that would see the first-lien lenders having approval process above the second-lien lenders, of which Galatito was part of. The Plan also had the second-lien lenders as being unimpaired through the process, so how Galatito was able to block the deal before the auction remains a mystery.

Was it a mistake to place the club into involuntary bankruptcy?

Ultimately, the group that was preferred by Major League Baseball wound up with the club, but if the sides had stuck to the figures, and acted in good faith, the $300 million creditors had said they would accept no less than would have avoided $85 million extra that came out of the auction process, and millions more in legal fees, the latter of which we may never know how much it really was (there was a $10-$13 million “break-up” fee if Greenberg/Ryan had lost, so that gives an idea).

What’s in the future for the Rangers?

There are plans for a new $5-$12M video board for next season, but that may be in jeopardy, not due to lack of funds, but because to get it installed in time for next season means getting the order in place by the end of the month. That is still being worked on. There will likely be staff turnover, and the group is expected to have an operating plan that is fairly aggressive to improve the fan experience at the ballpark. It would make sense that Ron Washington’s contract will be one of the first items to address, with Jon Daniels shortly thereafter. The FOX Sports Southwest television deal doesn’t expire for a few years, but it’s clearly something that was front and center when Mark Cuban jumped into the mix. While I haven’t heard as much, it is possible that a new deal could be reached ahead of the current contract’s expiration in four years.

Finally....

I need to offer up sincere thanks to all of those that followed me on Twitter and here on The Biz of Baseball during the entire process. I also wish to tip my hat to the reporters that covered the story including Daniel Kaplan, Evan Grant, Barry Shlachter, Richard Durrett, Anthony Andro, TR Sullivan, and CBS 11 News. I also need to thank those in the media that had an interest in what I had to say including the Ben and Skin Show, plus Galloway & Co. on ESPN Radio in Dallas; Jim Duquette, Jeff Nelson, Casey Stern, Jim Bowden, Jeff Erickson, Mike Ferrin, Seth Everett and all the great producers at MLB Network Radio and Fantasy Foxus on Sirus/XM Radio; WBAP Radio in Dallas, SportsRadio 1310 "The Ticket" in Dallas, Ted Price with Dallas Sports Network.tv, Jayson Stark, Baseball Time in Arlington (BBTIA), Jamey Newberg, the Dallas Morning News, ESPNDallas.com, the Ft. Worth Star-Telegram, the Dallas Observer, Joe Siegler, and a special hat tip to Adam Morris and all the fans at Lone Star Ball. For the rest that read The Biz of Baseball that went, "Enough, already!" by Friday Aug. 13th, the Greenberg/Ryan group should officially take over the club, and but one more club sale will be in the books. The next focus? The A's/Giants battle for San Jose, and the outcome of the McCourts divorce impacting the Dodgers.... Oh, that and a myriad of baseball business stories -- Maury Brown

RELATED CONTENT:


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 FanGraphs and Forbes SportsMoney. 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

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?