Skip to content

UPDATE: Ryan-Greenberg group wins ownership of Rangers

Aug 5, 2010, 1:51 AM EDT

An intriguing court case? What is this, 1995? Where's the white Bronco?

1:51 AM:  Just a quick update here.  As Anthony Andro of the Fort Worth Star-Telegram reported just moments ago, the group led by Nolan Ryan and Chuck Greenberg won the auction.  They out-lasted several massive over-bids by Mark Cuban and stepped up with a $385 million cash offer early Thursday morning.  Great stuff by Andro and Co.

********

4:05 PM:  Daniel Kaplan of SBJ reports that the review of the initial bids in the Texas Rangers auction is finally over (they’ve been in court all day) and get this: Mark Cuban and Jim Crane have “the highest and best bid” by $25 million.

Per some complicated legal business this morning, the Greenberg-Ryan group will now get some time — maybe some hours, maybe until tomorrow — to come back and top that bid. And they have to do it by $2 million to stay in the game.

That is, if they don’t make up their own rules. Minutes after the bidding was announced, Greenberg and Ryan’s lawyers (a) asked for more time; and (b) said that they’d attempt to block Cuban and Crane’s bid from being accepted via appeal and maybe some other legal action.  So that’s nice.  There’s also the distinct possibility — again, per Greenberg’s lawyer — that Major League Baseball may take up to nine months to approve Cuban and Crane as owners, which they argue would practically lower the real value of Cuban and Crane’s bid.

There will obviously be tons of twists and turns in the next few hours, let alone the next few weeks, so this doesn’t mean that Cuban and Crane will wind up owning the team.  But it does mean that for them not to it will mean that either Greenberg and Ryan will (a) have to come up with a ton more money; or (b) convince Major League Baseball and/or a court of law that the most valuable offer for the Texas Rangers should not actually get the team.

  1. RichardInBigD - Aug 4, 2010 at 4:12 PM

    Either way, the Rangers win. Moreso if Ryan/Greenberg get the nod, but wouldn’t it be great if they all decided to just do it together and share?

  2. The Real Shuxion - Aug 4, 2010 at 4:14 PM

    I would love to see Cuban get the team. It is almost like MLB doesn’t want anyone spending more than the Yankees and (my team) the Red Sox.

  3. Simon DelMonte - Aug 4, 2010 at 4:15 PM

    I saw something on ESPN – Neyer, again? – that suggests MLB doesn’t have to accept the highest bid, though.
    This is far from over. Unlike the AL West pennant race. Been some month for the Rangers, hasn’t it?

  4. Old Gator - Aug 4, 2010 at 4:16 PM

    Pinch me. My dream of seeing spiny little Mark Cuban lodged under the saddles of MLB’s Fatass Gang mule train is coming something like true.
    .
    Here’s a thought: Cuban and his organization will play Chicago 7 to dribbling imbecile Bud Light’s Julius Hoffman for the rest of the year. Maybe Bud will be bugged enough to retire a little early? Eh? EH?
    .
    Or do such things happen only in fairy tales?

  5. Kiwicricket - Aug 4, 2010 at 4:18 PM

    So what was the total from last night… Are we in the mix? I assume we wouldn’t have to pay any legal fees.

  6. Paper Lions - Aug 4, 2010 at 4:25 PM

    Is MLB going to explain to the creditors that “no, you can’t have the money owed you” because we don’t want to approve the highest bidders?

  7. davidc45629 - Aug 4, 2010 at 4:33 PM

    re: It is almost like MLB doesn’t want anyone spending more than the Yankees and (my team) the Red Sox.
    This kind of thinking is what got the Rangers (via Hicks) into the bankruptcy auction in the first place. No one can compete with the Yankees and Red Sox money wise because of TV/Radio money.

  8. The Common Man - Aug 4, 2010 at 4:34 PM

    Alas, our bid was rejected because Mark Hampton was supposed to deliver his check to us before the deadline, but he strained his forearm writing the check. He is day-to-day, but may have to be put on the 60 day DL if things don’t improve soon.

  9. Chomsky - Aug 4, 2010 at 4:36 PM

    “This kind of thinking is what got the Rangers (via Hicks) into the bankruptcy auction in the first place. No one can compete with the Yankees and Red Sox money wise because of TV/Radio money.”
    Nonsense. It was Hicks’s other, crappier holdings that bankrupted him, not the Rangers. Why else would the creditors offer to lend money to Cuban to buy the team?

  10. RichardInBigD - Aug 4, 2010 at 4:39 PM

    After all this free pub, and the way yhey’ve been playing, TV/Radio money may not be much of an issue for the Rangers any more…

  11. davidc45629 - Aug 4, 2010 at 4:44 PM

    Why else would the creditors offer to lend money to Cuban to buy the team?
    I’m not against Cuban owning the team..I think its a great thing Selig is scared of..I’m just saying there is no way anyone outside the NY/Boston market can have a 200m payroll..they end up bankrupt.

  12. Joboo - Aug 4, 2010 at 4:57 PM

    Anything (or anyone) that gets Bud Selig’s crusty briefs in a bind is a net positive in my book. If he has to be wheeled out from behind the curtain to subvert and interfere with a court order, I’ll be pleased as punch. There will be no way to put a friendly face on that, and nothing angers grand-standing politicians more then someone pissing in their pool.

  13. Kiwicricket - Aug 4, 2010 at 5:12 PM

    Bad news also….Ollie’s business manager says things didn’t pan out well with the investments. Might need to borrow a few quid infact. Is the consortium okay with this?

  14. Adenzeno - Aug 4, 2010 at 5:57 PM

    Let Cuban buy the Mets- PLEASE!! And I am a Met fan

  15. Ick McWang - Aug 4, 2010 at 6:19 PM

    nolan ryan should’ve teamed up with mark cuban. that would be a dream come true.
    i think cuban would be great for baseball in that he is an owner who isn’t afraid to spend money and does everything first class. truth is, both are excellent candidates and are deserving.

  16. Kiwicricket - Aug 4, 2010 at 6:55 PM

    Does everything thing with class? He acts like a 12yr old when things are not to his liking. I would have Cuban over half the other guys out there, but lets not forget his fondness for media and attention.

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Do Royals or A's have the edge tonight?
Top 10 MLB Player Searches
  1. D. Jeter (3363)
  2. C. Kershaw (2545)
  3. R. Martin (2454)
  4. A. Rodriguez (2098)
  5. D. Gordon (1951)
  1. J. Altuve (1945)
  2. J. Hamilton (1890)
  3. I. Suzuki (1724)
  4. D. Ortiz (1701)
  5. E. Volquez (1653)