Maury Brown: Negotiations Between Greenberg/Ryan and HSG Creditors at an "Impasse"
by Adam J. Morris on Mar 11, 2010 4:15 PM CST
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PrintMaury Brown has a story up, reporting that as of right now, the negotiations between the Hicks Sports Group creditors, who have to sign off on the sale of the Rangers, and the Chuck Greenberg and Nolan Ryan led group buying the club are at an "impasse."
The holdup appears to be that the creditors want $300 million from the sale, and as currently structured, they are only getting $230 million.
I would encourage anyone interested in this deal to read the article. And I would also suggest that everyone involved in this -- including Bud Selig and MLB -- wants to get this deal done, so while there may be some saber-rattling, I don't expect this to go completely off the rails to the point where a deal doesn't get done.
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Does fiddlesticks, shucks and dagnabit apply here?
I would think so
"Big whoop, wanna fight about it?"
I'll even give it a "frick!"
"Drinks are on me if Lewis posts >168IP and an era lower than 3.86." by RangerMad on Jan 20, 2010 12:36 PM PST
"Well I'll be..."
"Sometimes you just want to sit back and watch somebody throw 100." - Jeff Passan on Neftali Feliz
"Baseball's all that's real" - JB
by Cecilio's Guante on Mar 11, 2010 10:30 PM CST up reply actions
Just tap into that BOA Line of Credit and get this effer done!
"Sometimes you just want to sit back and watch somebody throw 100." - Jeff Passan on Neftali Feliz
"Baseball's all that's real" - JB
by Cecilio's Guante on Mar 11, 2010 4:25 PM CST reply actions
Tell you who needs to nut up and get this done - Hicks
It’s his damn debt. If the creditors are willing to write down his debt from $500MM to $300MM he needs to figure out how he’s going to kick something in to get shit finished.
"You promised me, Eckstein, that if I followed you, you would walk with me always. But I noticed that during the most trying periods of my life, there have only been one set of prints in the sand. Why, when I have needed you most, have you not been there for me?" David Eckstein replied, "Because my little legs had gotten tired, and you were carrying me." And I looked down and saw that I was still carrying David Eckstein.
Then he grounded out weakly to second.
If there was justice in this world, that would happen
Look at the comments under Jeff Wilson's blog post on dallasnews.com. What a bunch of rocket scientists.- Keith Law
Curse your sudden but inevitable betrayal!
by Keynes on Mar 11, 2010 5:25 PM CST via mobile up reply actions
Thats not what this is
they arent saying “O, we will just take $300 instead of $500 plus interest…”
They are saying that, for the sale of this team, we want $300 mill cash, and then we can talk about the other $200 million.
PM Productions - My Work - Song of the Week - Clip of the Week
"Heres the thing... I made that tape special for today, my special Monday morning tape for you, SPECIAL!
Well it's fucking Monday afternoon you should get out of bed earlier!"
John Cusack and Jack Black, High Fidelity
by FormerLSBUser on Mar 11, 2010 6:45 PM CST up reply actions
I don't know that's the case
The article says, on the one hand, that the cash component going to creditors is $230MM, but it goes on to say the creditors are seeking a minimum of $300MM of the proceeds. I don’t know if “proceeds” means cash or total sale price.
It could very well be that $230MM to $300MM is being paid now off with other $200MM being paid over time. Although with Hicks already defaulting it’s possible the debt was negotiated down to $270-300MM. Don’t know. But these are the things I’d like to know.
"You promised me, Eckstein, that if I followed you, you would walk with me always. But I noticed that during the most trying periods of my life, there have only been one set of prints in the sand. Why, when I have needed you most, have you not been there for me?" David Eckstein replied, "Because my little legs had gotten tired, and you were carrying me." And I looked down and saw that I was still carrying David Eckstein.
Then he grounded out weakly to second.
no Hicks Sports Groups owes that money
Lets no forget that the creditors are eying the stars ,eventual, sale too.
MLB
If MLB wants to get this done, it should go to the back of the line of creditors to get paid off at the beginning.
I would rather get
$230 million cash than have Tom Hicks owe me $300 million, but, of course, it’s not my money.
by Randy Richardson on Mar 11, 2010 4:51 PM CST reply actions
It will get done.
Expect someone to throw another $20M or so to the creditors.
Vladimir Guererro - 2010 AL MVP
70 million seems like a pretty large gap
A baseball game is simply a nervous breakdown divided into nine innings.
Brown says it will get done.
This story was already linked in the comments somewhere, and Maury responded saying that it is still a question of when, not if.
Tomorrow
I’m going to put a lot of the issues that have been floating around in perspective tomorrow with a piece I have been working most of the day. A lot of phone calls… a lot of making sure I have the answers that some have not yet addressed. While I always appreciate Adam saying, “this is a must read”, the article tomorrow (late tonight) will be the real “must read”
by Maury Brown on Mar 11, 2010 5:39 PM CST reply actions 2 recs
I'd love to hear some more details on the creditors' leverage
UCC and/or mortgage security interests? Who has priority in the group? Basically, what secured the debt and how was it secured? I’m also curious about how much of the purchase price is up front, how much is financed and how much is paid over time/installments. Some of this stuff could give us insight on the parties involved.
Thanks for following this so closely.
"You promised me, Eckstein, that if I followed you, you would walk with me always. But I noticed that during the most trying periods of my life, there have only been one set of prints in the sand. Why, when I have needed you most, have you not been there for me?" David Eckstein replied, "Because my little legs had gotten tired, and you were carrying me." And I looked down and saw that I was still carrying David Eckstein.
Then he grounded out weakly to second.
Sounds good Maury,
looking forward to it, you seem to be one of the only ones that’s giving us pertinent info.
"Big whoop, wanna fight about it?"
by lost in space on Mar 11, 2010 5:53 PM CST up reply actions
thanks
looking forward to reading it — and appreciate the information
Scout: He was a first-round pick right? Got a huge bonus?
KG: Oh yeah.
Scout: Well, he spent a lot of it on milkshakes.
by knockoutking on Mar 11, 2010 6:38 PM CST up reply actions
thanks
yeah Adam says that about a lot of your and other stuff. Quite frankly, it doesn’t mean much anymore when we read that from him. I will check out your one later tonight though, since it actually does sound like a must read.
Mike
I have a question. You clearly don’t like this blog or Adam but you continue to read it and comment on it. Why is that?
by LoneStarBallUser on Mar 11, 2010 6:59 PM CST up reply actions
"we"
I didn’t realize you had become a spokesman for the group, Mikey.
by Adam J. Morris on Mar 11, 2010 7:00 PM CST up reply actions
He is
Every one word comment from him is our collective thought. He’s the Borg spokesman.
"You promised me, Eckstein, that if I followed you, you would walk with me always. But I noticed that during the most trying periods of my life, there have only been one set of prints in the sand. Why, when I have needed you most, have you not been there for me?" David Eckstein replied, "Because my little legs had gotten tired, and you were carrying me." And I looked down and saw that I was still carrying David Eckstein.
Then he grounded out weakly to second.
Heh
'Waiting for a girl and she gets me into fights
Waiting for a girl we get drunk on Friday night'
To be fair, Tex34 is the spokesman
Mikey is just stepping in on a pro tempore basis…
"I don’t know how these SN blog authors get their gigs, but I’m frankly surprised SN tolerates AJM’s lack of effort." Tex34
Neftali Feliz says sit your 5 dollar ass down before he makes change...
by Brian Thomas on Mar 11, 2010 7:24 PM CST up reply actions
Is Tex34 the one who called AJM
a herder?
"Big whoop, wanna fight about it?"
by lost in space on Mar 11, 2010 7:25 PM CST up reply actions
Indeed he is
See my sig for more spot on clarity…
"I don’t know how these SN blog authors get their gigs, but I’m frankly surprised SN tolerates AJM’s lack of effort." Tex34
Neftali Feliz says sit your 5 dollar ass down before he makes change...
by Brian Thomas on Mar 11, 2010 7:27 PM CST up reply actions
heh @ that quote
AJM does this job adequately. Lack of effort wouldn’t be my wording of it, though he does certainly have tremendous room for improvement.
Question
1. How much time per day do you think I spend dealing with LSB?
2. How much time per day do you think I should spend dealing with LSB?
by Adam J. Morris on Mar 11, 2010 9:44 PM CST up reply actions
It's not really a time issue
Well, I suppose lack of time could be why YOU do not bother going through flagged messages and dealing with them, but if that were the case then you should look at adding more ‘Managers’. And if you are doing so, well then you just aren’t doing very well at it.
Also, even though you may support vicious name-calling and hate speech and the like on LSB, I don’t think it’s appropriate for you to actively take part in it. As unfair as that may seem to you, that’s something that should come with the territory.
Just a couple of little things, that add up…that could be improved. Otherwise, as I said, you do a fine job keeping this shiP afloat.
Not that I'm attacking you..
You run LSB better than many others run their sites on SBN. So yeah..it’s not like I have some big issue with the current AJM era
Even with active moderators, not a lot would change.
Unless the moderators were from a very different type of crowd than the general crowd here (and most internet forums). Profanity, porn, racism, and the rest you frequently see here just come with any unmoderated internet forum, especially as the site grows in popularity and traffic.
The best forums I’ve seen are the ones that go to approved posters only and don’t settle for anything less than mature, well-reasoned, rational, educated people. For some reason, internet forum operators tend to be very hesitant to ban people who are otherwise nice but simply aren’t very intelligent or well-educated. Which is too bad because when it’s done it makes for very good discussion and information flow.
Wow...
For some reason, internet forum operators tend to be very hesitant to ban people who are otherwise nice but simply aren’t very intelligent or well-educated.
You should be glad this is the case.
"The only good is knowledge and the only evil is ignorance."-Socrates
by slc ranger on Mar 12, 2010 12:40 AM CST up reply actions 5 recs
wow this is a great post
made it green
"They’ve taken the Illini to the woodshed."
-Steve Lavin on Mizzou v. Illinois
by Jason Brynsvold on Mar 12, 2010 2:58 AM CST up reply actions
We have a new record
for the longest Mike E post ever I believe.
"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan
by Dirk Diggler on Mar 12, 2010 10:46 AM CST up reply actions
OT -- Good article on why closers aren't THAT important
This is why we as Rangers fans should hope that Feliz gets every real opportunity to start.
"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan
If closers are not that important
then relievers are not that important. So shouldn’t Feliz be in either the Rangers or OKC rotation.
Vladimir Guererro - 2010 AL MVP
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