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  1. #1
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    Ryan/Greenburg Sue Rangers

    "Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind."
    — Dr. Seuss

  2. #2
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    Still trying to decide if this is good or bad.

  3. #3
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    Yeah, it's tough to tell. Part of me says it's a good thing because it could mean the CRO is replaced and the auction canceled. The other part says it's just another pissing fight with millionaires that will extend the already long overdue sale of this team. Not that I don't appreciate Ryan and Greenburg showing their dedication to the team. It's just, this is something that really needs a resolution sooner rather than later.
    "Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind."
    — Dr. Seuss

  4. #4
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    From what it looks like to me though, this is Nolan and greenberg trying to more or less force the issue, as if saying the auction should never happen anyway because of illegitimate negotiations by the Rangers with the possible bidders. Maybe I'm misunderstanding the situation, but it looks to me like an attempt by Express to thwart the auction altogether. You know that Greenberg, an attorney, has a team of people finding every possible way to get what he and Nolan believe to be rightfully theirs.

  5. #5
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    How I read it is that Ryan/Greenberg gave up their exclusive negotiation rights and agreed to this auction under the terms that were agreed between Ryan/Greenberg's group, the CRO, and whomever else had to agree to it. The CRO then began negotiating directly with other prospective buyers which wasn't part of the auction agreement. Ryan/Greenberg then stepped in and reasserted their exclusive negotiation rights because the CRO violated the agreement. Basically it sounds like the CRO overstepped what he/she was authorized to do and upset the Ryan/Greenberg group enough to take it back to the judge.

    It could lead to a restoration of the original auction agreement and as Skizzik the replacing of the CRO. I wonder if this is intended to go beyond that and depending on how the judge rules here if it could lead to the negotiations Hicks had with (I think it was) Crane's group getting thrown out as well. And if that would speed this up since in the view of the court was no better legal offer as the creditors are contending... just blowing smoke but i can do that occasionally can't I? lol

  6. #6
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    at TX Rangers bankruptcy hearing MLB lawyer says Jeff Beck and Jim Crane have received MLB sales clearance - http://twitter.com/dkaplanSBJ/status/18461470690

    Judge Lynn sets Aug 4 as the auction date - http://twitter.com/dkaplanSBJ/status/18466114299

    Judge Lynn includes in bidding that if MLB turns down winning bidder, he would hear motion they did not act in good faith - http://twitter.com/dkaplanSBJ/status/18466259987

    ...@$#@#$

  7. #7
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    Judge Lynn grants Greenberg/Ryan bid stalking horse status - http://twitter.com/dkaplanSBJ/status/18466469961

    What does that mean?

  8. #8
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    Quote Originally Posted by Deadlock0071 View Post
    Judge Lynn grants Greenberg/Ryan bid stalking horse status - http://twitter.com/dkaplanSBJ/status/18466469961

    What does that mean?
    "On July 8, 2010, the Texas Rangers Major League Baseball team announced a potential stalking horse deal. "'An auction with a stalking horse, or minimum, bid is more frequently used than a so-called “naked” auction without a floor price,' William K. Snyder, the court-appointed restructuring officer, said. 'Moreover, the stalking horse bidder commonly receives a “reasonable” break-up fee if unsuccessful in the auction,' said Snyder. Under the scrapped plan, the $304 million in cash portion of the Greenberg-Ryan group’s May 24 deal with owner Tom Hicks would serve as a minimum bid, with the next bid at least $20 million higher. Greenberg-Ryan would have received $15 million if it lost.""
    "Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind."
    — Dr. Seuss

  9. #9
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    This will never end, and when it does we won't be happy.

  10. #10
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    last i heard on that was after the auction terms were agreed to the CRO came back and modified the breakup fee to 1.5 million. That's part of what started this latest BS.

  11. #11
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    Quote Originally Posted by Young2Kinsler View Post
    This will never end, and when it does we won't be happy.
    I'll probably be the only fan happy when it ends. I foresee Ryan/Greenburg getting outbid and losing the Rangers...and it will suck if Ryan leaves. But I think even without Ryan we'll be in a fine place, here's why: All these guys are doing everything to land this team, even offering to pay more than even Forbes says they're worth.

    I think we should give a little credit to the other guys who have kept this battle going on. We think of it all from the Ryan/Rangers point of view. But think of it from their point of view. What if they REALLY want to own a baseball team...and hell, what if it turns out they are willing to spend like crazy and/or simply manage to run the team really well?

    I mean, these are dedicated people who really want their shot at owning this team. And in fact, some of them might have got cheated in the bidding because only the Ryan/Greenburg group would ally with Hicks and let him in as a minority owner.

    Yes, Ryan is important to this team. At the same time, if these other guys are willing to give this much for their team just to land the team, I will give them the benefit of the doubt that they're willing to do what's needed financially to help this team win championships over the coming years. Ryan is not the sole reason for our success, and outside of pitching improvement (which can also be linked to Maddux), it's questionable how much Ryan really has helped outside of maybe morale.
    "Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind."
    — Dr. Seuss

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