Word this morning that Home Town Boy Nolan Ryan has successfully purchased the bankrupt Texas Rangers.
I guess owning your own team is a good thing and though I’ll always think of him as an Astro, he did have some good years with the Rangers.
Ryan’s group had the winning bid in bankruptcy court, but word from those in the know is that the team could have been had a lot cheaper without interference from Dallas Mavericks owner Mark Cuban:
By RANDY GALLOWAY
rgalloway@ star-telegram.com
Mark Cuban’s basketball club is now a flat-line outfit, life and death in this era to simply survive the first round of the playoffs.
But in the early hours of Thursday morning, Cuban was in a Fort Worth courtroom, hell-bent to crash another local team.
As midnight came and went, as Wednesday night became Thursday morning, Cuban had pushed the Rangers into a total cost factor nearly reaching $600 million.
And then Cuban backed off and backed out at 12:45 a.m. Thursday after doing his dirty deed on behalf of dirty debt lenders who were stupid enough to allow Tom Hicks to cheat them.
The Greenberg-Ryan group now owns the Rangers. That’s the best news of all.
But it came at a cost much higher than expected, and a cost that might impact future spending. It certainly doesn’t help it.
Cuban knew that. He didn’t care.
The Hicks lenders rejoiced at this result, meaning the $600 million. Cuban is one of them. He’s totally in bed with the lenders.
Cuban and his surprise partner in the process, Jim Crane of Houston, appeared to be pony boys for the lenders, biding up the cost with certainly a nice financial payoff coming from the lenders.
This is shameful, Mark. Even for you, it’s shameful.
Read more: http://www.star-telegram.com/2010/08/05/2384807/cubans-swinging-for-the-fences.html#ixzz0vjeGRHpi
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