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Craig Calcaterra on the Ranger Sale Situation

Craig Calcaterra talks some more about the Rangers sale situation, including the report that the Hicks Sports Group creditors are still balking on the deal and threatening to force bankruptcy.  Calcaterra says:

This doesn't mean Greenberg doesn't end up with the Rangers at some point. It does, however, yet again, render the rosy "every little thing gonna be alright" jazz he's been peddling since December increasingly silly.  Deals of this size get derailed over far less than $60 million, and even if they end up going through, a difference in that amount can utterly destroy the timeline.

Upshot: there's a very real possibility that the Rangers may spend another season, or at least a good chunk of it, in the same kind of financial limbo they were in last year. A year in which they had to beg MLB for loans.

This is starting to seem to get almost personal here...Calcaterra has been saying for some time that there are issues with the sale, which has been disputed by Greenberg (and others), which may account for the tone of the above.

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Yay.

Thanks for my daily dose of depression.

Hipsters, Flipsters, and Finger Poppin Daddies! Knock me your lobes.

by Escher on Mar 16, 2010 10:21 AM CDT reply actions  

Except

He’s saying be skeptical about the gloom.

by brettgardner on Mar 16, 2010 10:22 AM CDT up reply actions  

Yup

Does he dislike Greenberg for some unknown reason, or does he have some ties to one of the off-put creditors?

"Back on the scene, with a gangsta lean" RW
"When you have a weapon on your shoulder like he has, you can be cool." RW on Perez
And the little bastard threw it for a swinging strike three in a 3-2 count. He’s blessed. And ballsy.

by Rodney on Mar 16, 2010 10:26 AM CDT up reply actions  

It's clear he has a source that is a creditor

Everyone single one of his posts on the matter have slanted that way.

"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan

by Dirk Diggler on Mar 16, 2010 10:32 AM CDT up reply actions  

i do love that when some1 comes on here and asks for tax or bankruptcy advice

the general consensus is that they should pay their fucking bills and get their shit together, but when tom hicks doesnt want to pay his bills, i think we all agree he can pay them, and doesnt, then tries to sell the debt ridden trash. the creditors are being unreasonable to ask for the full amount owed to them including interest.

the thing i absolute hate about this stuff is that people in the states generally ignore the fact that teams arent purchased by in any sort of full amount, by people who have an amount of money to purchase the club. people tend to totally ignore the fact that these guys are all buying the franchise with money they dont have, agreeing to interest rates they dont care about to get the team. all the creditors are becuase tom hicks didnt have enough $ to run the operations without paying interest. the longer the payments the higher the interest. yet, we wont hear one report on the loan terms the new ownership groups. it makes a difference. if the owners are paying 15% of their operating costs per year going forward on paying back loans instead of investing that 15% in the club, that is information that should be known by fans and sought by media types. its neither in the states. its how hicks could lie his ass off even to the last second last season with even the equivalent to his CFO and COO even having a reasonable clue.

the fans, the media, the league, the country, they dont demand that kinda knowledge. stuff like the green and gold campaign and the SOS campaign that are pushed due to owners too poor to operate a functioning club without accruing huge debts that are saddled upon the club going forward and effect the clubs long term ability to win. Here, we dont even have media bother asking those questions, if they do they are told to fuck off its private. sure its private, but it effects the ability of the club to put out a decent product, so its our business. doesnt matter.

yeah antitrust
yeah baseball
yeah america
yeah sports fans

your all awesome.

/rant off

I can't help it. I’m an asshole.
-brettgardner on Jul 7, 2009 10:55 PM EDT

by Jayslick on Mar 16, 2010 11:14 AM CDT up reply actions  

I agree to a point BUT

I can also tell the banks to F Off. They’re the ones who loaned the money in the first place when they shouldn’t have. I’m surprised that no one (at least that I have seen) has written an article on how this is a similar example to the housing crisis. While the loans for the Rangers and Stars may have been ok loans, adding Liverpool to the books was obviously dumb.

by texasraider on Mar 16, 2010 11:58 AM CDT up reply actions  

glad I could spark that rant

"He will not coddle them. Nolan Ryan doesn’t coddle." - Jeff Passan

by Dirk Diggler on Mar 16, 2010 12:28 PM CDT up reply actions  

Woah

If you’re going to take the time to type that many words, why not find the shift key and make it legible?

I think most of us understand that debt is an aspect of buying a team, especially after recent events (both local and global). However, while most owners do take on debt in order to purchase teams, they also are capable of managing said debt without having it severely affect the operations of the team. In fact, Tom Hicks was capable of doing the same for the first part of his tenure as owner as the debt to value ratios that AJM showed weren’t that out of whack. We are mad at Hicks because of his apparent usage of the Rangers as an asset/collateral for his Liverpool purchase.

We are mad at the creditors mainly because they are impeding our getting rid of Hicks, to the degree that we may have a repeat of next year with the MLB having a say in player acquisition. We are also mad at the creditors because their goals in this situation are not the same goals as fans of the Rangers organization. The people representing the creditors will try to get as much money as possible, both from Hicks and from the purchasing group. While no one denies them the money they’re owed and at least some of the interest involved, we also don’t want to see them squeeze every possible penny out of the people who will be owning the Rangers. These potentially opposing goals are why there are so many reports being written from creditor-friendly sources suggesting that this will be delayed until they can get as much as they deem necessary/acceptable and why we will be quick to complain about these reports.

And let’s not even get into the differences between the EPL and the US leagues. While we generally don’t chant new songs every week, we also don’t have near the level of hooliganism (Oakland excluded). I love the EPL and I love my sports teams here, but I’m not sure it’s reasonable to expect teams to not only follow their teams players and trades, but to add following the teams financial structure and loan contracts seems to defeat the point of sports being an escape from real life. If it weren’t for horrendous ownership decisions by the owners of those teams, there wouldn’t be the big uproar or amount of ink those issues get in England right now.

Sure, they’re having a more intense reaction, but they’re also responding to a more serious mismanagement, especially in relation to status and standing.

If Brad Pitt is playing Beane who do you want playing you?
JD: Eddie Guardado.

by GhettoBear04 on Mar 16, 2010 2:26 PM CDT up reply actions  

"We are mad at the creditors mainly because they are impeding our getting rid of Hicks"

Maybe Hicks is impeding getting rid of the creditors. As I mentioned in another comment, Greenberg really has no say about which creditors get what. They’re Hicks’ creditors so he makes that ultimate decision and I’m guessing his goal right now is to pay them as little as possible so HSG can pocket something.

Hicks is holding up the sale just as much as the creditors. Greenberg doesn’t have much say in the matter. Sure, he could say he’d up the sales price if that would get it done but he really doesn’t have any obligation to do so. Hicks accepted (in principle) Greenberg’s offer knowing his debt. It’s more up to him than it is Greenberg.

"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.

by WyoRanger on Mar 16, 2010 4:49 PM CDT up reply actions  

That would seem the obvious answer

Curious if they’ve ever crossed swords back in the minor league days.

"Back on the scene, with a gangsta lean" RW
"When you have a weapon on your shoulder like he has, you can be cool." RW on Perez
And the little bastard threw it for a swinging strike three in a 3-2 count. He’s blessed. And ballsy.

by Rodney on Mar 16, 2010 11:14 AM CDT up reply actions  

crossed swords?

umm yuck.

I can't help it. I’m an asshole.
-brettgardner on Jul 7, 2009 10:55 PM EDT

by Jayslick on Mar 16, 2010 11:16 AM CDT up reply actions  

Be skeptical both ways

Maybe Calcaterra is taking it personnel and taking swipes.
Maybe Greenberg is “being optimistic” on a PR front.

I don’t expect (or even want) 100% complete honesty when the owner or GM is talking with the media. I’d prefer they don’t lie or conceal the minor stuff, but they have to keep other things secret. And when you’re keeping a secret, silence is it’s own clue. So sometimes instead of silence, you have to tell a little lie. That doesn’t bother me.

by Oracle Galvez on Mar 16, 2010 10:30 AM CDT up reply actions  

i love how you say you dont even want 100% honesty

not to expect honesty is one thing, to not desire it seems to be saying you would prefer to be lied to in certain situations. to prefer or want to be lied to is something i just flat dont understand.

I can't help it. I’m an asshole.
-brettgardner on Jul 7, 2009 10:55 PM EDT

by Jayslick on Mar 16, 2010 11:20 AM CDT up reply actions  

Do you really want...

…the g.m., manager or owner of a team to be 100% honest about everything they are asked by the media?

by Adam J. Morris on Mar 16, 2010 11:26 AM CDT up reply actions  

x

“JD – who’s your off season target?”
“Colby Lewis.”
“What are the contract terms you’re going to offer?”
“2 years $5MM with a club option but don’t tell anyone else.”

"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.

by WyoRanger on Mar 16, 2010 11:35 AM CDT up reply actions  

it's not that I want to be lied to

it’s that I want to lie to others for the benefit of the team

""It was a ball, dude," Davis said. "I don’t swing at balls anymore." -CD

by ab03 on Mar 16, 2010 11:34 AM CDT up reply actions  

Have you seen "The Invention of Lying"?

There are lots of times you want people to lie. The movie gets a little off, as the characters in it aren’t just truthful, they are truthful even when they aren’t asked a question. I guess they’re going with a theme of: Even filtering your thoughts is a form of deception / lying.

Back to Baseball:
I want our GM to say that we’d be happy to keep Teixeira this trade deadline, and go into the offseason with one more year left. Maybe he was truthful. Maybe it was a bluff. But if getting rid of him was “The Plan”, I sure as hell don’t want Daniels replying to a media question “Yes, we’re going to trade him. Whatever the best offer, we’ll take it.” There’s no reason to lose leverage that way.

I’d have loved to know the truth. But for me to know, everyone would have to know. I’m no insider. So, yes, I want him to lie to “me”.

by Oracle Galvez on Mar 16, 2010 11:34 AM CDT up reply actions  

What's Greenberg supposed to say?

Sorry fellow investers but everything’s screwed up?

"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.

by WyoRanger on Mar 16, 2010 10:32 AM CDT reply actions  

Yawn

I want this sale to go through just so we don’t have to read any more scare stories from guys like Calcaterra.

Go Rice Owls!

by JBImaknee on Mar 16, 2010 10:34 AM CDT reply actions  

Concur

"The only good is knowledge and the only evil is ignorance."-Socrates

by slc ranger on Mar 16, 2010 10:43 AM CDT up reply actions  

Calcaterra

So tired of his stuff. He’s starting to sound more and more like a petulant child that is demanding to be heard on this issue.

by jthig32 on Mar 16, 2010 10:35 AM CDT reply actions  

Calling BMFF, Sr.

"Josey drives to games???
I always assumed he rides in on his high horse"
jam0152

Martin Perez, "Mucho queso"

by RangersSD on Mar 16, 2010 10:46 AM CDT up reply actions  

Bankruptcy

So what exactly are the downsides of bankruptcy? In the end Hicks will lose the club, and greenberg/ryan will be able to buy a club that has been devalued so they can buy it for cheaper, giving them more $$ to spend on the on field product. The creditors will get less. And Hicks looks like and ass/idiot (assiot). The only downside is time, I imagine it’ll take a while to get through the process.

by Andrew in Boston on Mar 16, 2010 10:52 AM CDT reply actions  

That's a pretty big downside.

Bankruptcy court is a very slow process and it’s directly related to the amount of money and creditors.

The biggest downside is that the Stars and Liverpool would be included in the bankruptcy hearings. That would be a colossal disaster for three franchises.

by texasraider on Mar 16, 2010 12:02 PM CDT up reply actions  

GM came out of bankrupcty in around a month no?

just devil advocate.

I can't help it. I’m an asshole.
-brettgardner on Jul 7, 2009 10:55 PM EDT

by Jayslick on Mar 16, 2010 12:15 PM CDT up reply actions  

Do you think Obama and Congress are going to help...

…this process along?

If Brad Pitt is playing Beane who do you want playing you?
JD: Eddie Guardado.

by GhettoBear04 on Mar 16, 2010 2:27 PM CDT up reply actions  

of course

you have to consider who his potential source are.

by SteveP on Mar 16, 2010 10:52 AM CDT reply actions  

OT: What the fuck, Sally League???

Last year Hickory came to Greenville (where I live) the first series of the season, and then never came back.

This year Hickory only visits once, yet again… and it’s the last freaking series of the season.

So now if I want to see ’em I have to go to Hickory.

No offense to NC Ranger Fan… but there are about a million different places I’d rather go than Hickory.

/thebitchandmoanatron

Oh well.

Guess I’ll just find a series where the Saturday night/Sunday day starters look good and go up then so I can see ‘em and only have to spend one night in one of Hickory’s many fine hotels.

Hickory does have hotels in it, right?

The 40 Trumps All!!!

by thedirkatron on Mar 16, 2010 11:01 AM CDT reply actions  

welcome to the club

frisco comes to little rock one time. all year.

sun-mon-tue. i will be skipping my tue class to go.

thank god for shroom’s SP schedule…maybe i can get to see perez…one can hope, right?

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 16, 2010 11:29 AM CDT up reply actions  

When did you move outta DC?

"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 16, 2010 7:18 PM CDT up reply actions  

MiLB schedules...

can be odd at times. OKC only visits Salt Lake once every other year. I understand them being in different leagues and all, but at least once a year would be nice.

The good thing about that is they weren’t here last year so I’ll get to see a 4 game set this year, but it’s not ’til the beginning of August.

"The only good is knowledge and the only evil is ignorance."-Socrates

by slc ranger on Mar 16, 2010 12:07 PM CDT up reply actions  

If your word wasn't such doo-doo, I'd say let's take that game in together

I might even bring Mrs. Ragu, so you could put a beatific face on those lusty dreams of yours.

But, of course, you can’t be counted on to keep plans.

"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 16, 2010 7:21 PM CDT up reply actions  

When did we make plans?

We didn’t make plans.

Unless I blocked it out cause I hate you.

The 40 Trumps All!!!

by thedirkatron on Mar 17, 2010 7:39 PM CDT up reply actions  

Sigh

I guess you did.

So do you want to meet up in Hickraw this year, because I am fuckin there, Huntressa?

Don’t be scared.

"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 17, 2010 8:44 PM CDT up reply actions  

I know the idea was bandied about in the abstract, with some hypothetical "how would we do it?"'s mixed in... But don't recall "plans".

If so, sorry.

It prolly coincidence-ided with my Dirkapacolypse period of awfulness late this summer.

Yah, I’d do it.

I definitely wanna see ’em before the end of the season when they come down here.

How would that work? Saturday night/Sunday day game weekend?

Are there any other deep south dudes on here? Could make it an LSB night kind of thing.

I know NCRangers fan, and I think there’s someone else from NC, but I remember it being coastal, which is far as fuck from Hickory.

The 40 Trumps All!!!

by thedirkatron on Mar 17, 2010 9:35 PM CDT up reply actions  

Either Fri-Sat or Sat-Sun works for me, depending on schedule

It is 6 hrs from me. I assume that it is a similar but slightly less distance for you. My best work friend is from there, too, so I have a few do’s and don’ts insights.

What is your work setup? I can leave early enough on Fri to make a game, or I can come back late on a Sunday, too. I’m easy.

I’m also down for an LSB Mid-atlantic type of thing, but I’m not sure the roster would fill out that much. We can diary that up.

The key is to lock down a date relatively early, so we eliminate any lame planblowoffery…

"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 17, 2010 9:58 PM CDT up reply actions  

Saturday-Sunday is likely to best for me, too.

It’s only 2:30 for me, give/take. (I don’t know what Mapquest is smoking with this 1:55 shit
, but I’ve driven up that ways before and no way I make it in less than 2:15. Traffic, Mapquest. The sprawl-o’-Charlotte has it.)

I’m sure it’d just be you and me + probably NCRangerfan and maybe an odd interwebbian pervert or two (I mean other pervert besides you and me, obviously), but screw it.

We’ll fanpost it and see if anyone else wants to join.

Tell ‘em that I’ll be the guy who looks like me, and you’ll be the guy who’s buyin’ all the beers and I’m sure some weirdo’s will pop on out of the woodwork.

The 40 Trumps All!!!

by thedirkatron on Mar 17, 2010 10:56 PM CDT up reply actions  

Sounds good

Yahoo is blocked at work. Ill reply tonight.

"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 18, 2010 9:10 AM CDT up reply actions  

Hey, I'm e-mailing you from my account that I actually use.

Spam filters love to chomp down on my e-mails, so beware.

The 40 Trumps All!!!

by thedirkatron on Mar 17, 2010 11:32 PM CDT up reply actions  

He and I have different definitions of...

“Upshot”

If Brad Pitt is playing Beane who do you want playing you?
JD: Eddie Guardado.

by GhettoBear04 on Mar 16, 2010 11:05 AM CDT reply actions  

Craig Calcaterra, you're no Maury Brown

By 2028, Mark Teixeira will be in the HOF.

"I am one of the biggest Texas Ranger fans out there but I'm also one of the smartest. Deal with it."
-The Outlaw

by Gdawg on Mar 16, 2010 11:08 AM CDT reply actions  

Can't imagine why

creditors wouldn’t demand to be brought current, and all debts that have had their payoffs accelerated as a result of defaults paid in full before they sign off on the deal.

There are enough assets for them to be made whole in bankruptcy court, so I can’t believe that’s a big threat to them.

"I don't condone steroids or any other type of growth hormones or anything else, but I could care less, and, for the most part, I don't think the fans give a (bleep). The people that care about it are the people that probably don't like baseball," - Jim Leyland

by DJCahill on Mar 16, 2010 11:08 AM CDT reply actions  

Don't forget the predetory lender that bought $100MM of the debt

I’m sure that’s one of the issues. That entity, while it is owed the entire $100MM didn’t purchase it for that much. To make that creditor whole would be some amount less than $100MM and everyone knows it. Part of the negotiations surely focus on settling with that particular debtor for some amount between what it purchased the debt for and the actual amount owed under the note.

"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.

by WyoRanger on Mar 16, 2010 11:27 AM CDT up reply actions  

There was a predatory lender involved?

That’s awesome.

""It was a ball, dude," Davis said. "I don’t swing at balls anymore." -CD

by ab03 on Mar 16, 2010 11:31 AM CDT up reply actions  

If I was that party that purchased the debt.

I’d still hold out for a dollar on the dollar settlement.

There are too many assets and not enough liabilities to bother settle for less.

There is enough in the Ranger sale to pay off all debts.

"I don't condone steroids or any other type of growth hormones or anything else, but I could care less, and, for the most part, I don't think the fans give a (bleep). The people that care about it are the people that probably don't like baseball," - Jim Leyland

by DJCahill on Mar 16, 2010 12:09 PM CDT up reply actions  

Exactly

Purchase amount + fees=payout/settlement

Maybe throw in some future concessions to make them whole.

"Back on the scene, with a gangsta lean" RW
"When you have a weapon on your shoulder like he has, you can be cool." RW on Perez
And the little bastard threw it for a swinging strike three in a 3-2 count. He’s blessed. And ballsy.

by Rodney on Mar 16, 2010 12:27 PM CDT up reply actions  

I doubt they are in a hurry

I imagine the loan agreement has interest/penalties that keep stacking up while it is in default.

Anyone who thinks the deal will be done for purchase amount of debt plus fees is fairly ridiculous. The purchase price of the debt is completely irrelevant. They have more leverage before the Rangers deal is done than afterwards, so I can’t imagine they have any desire to be bought off cheap.

It’s not like the Rangers asset loses value (in a dollars and cents standpoint) while they hold up the sale.

"I don't condone steroids or any other type of growth hormones or anything else, but I could care less, and, for the most part, I don't think the fans give a (bleep). The people that care about it are the people that probably don't like baseball," - Jim Leyland

by DJCahill on Mar 16, 2010 12:42 PM CDT up reply actions  

It’s not like the Rangers asset loses value (in a dollars and cents standpoint) while they hold up the sale.

tell that to the expos…

I can't help it. I’m an asshole.
-brettgardner on Jul 7, 2009 10:55 PM EDT

by Jayslick on Mar 16, 2010 1:07 PM CDT up reply actions  

Calcaterra's response to a comment that he's a friend of a Greenberg enemy...

Craig Calcaterra

That’s not true. I have no friends that are enemies of Greenberg.

Back in December I reported that there were concerns that there wasn’t enough cash in this deal to make everyone happy. As soon as I wrote that, I received calls from multiple people connected to baseball and Greenberg telling me that I was dead wrong and that I shouldn’t have written it.

Since that time the information has been proven to be accurate, as evidenced by the ongoing issues between Greenberg and the creditors over cash in the deal, the latest info about this which forms the basis of this post. Despite this, Greenberg has continued to attempt to portray these as minor issues that will easily be surmounted and which will lead to the deal being done by opening day.

I continue to stick with this story, not because I have any dog in the hunt, but because I think Greenberg has been somewhat disingenuous in spinning the state of the deal to the press, and that Rangers fans should be made aware of it rather than simply accept the “we’ve entered a whole new era” party line. If the creditors — none of whom I know or have ever spoken with — decide to try to sink this deal for some reason new ownership won’t be in place for the season and that could impact the team. Someone should point that out, and for the want of any others interested in doing so, I’ve decided to be that someone.

Personally, I hope the deal gets done quickly. Greenberg has an excellent track record as the owner of his minor league properties and Nolan Ryan has been an absolute good when it comes to this franchise. I have nothing personal against either of them. I do have something against spin, however, and they’ve been spinning like crazy.

I don’t know what he expects Greenberg to say? “EVERYONE FUCKING PANIC! THE SALE ISN’T OFFICIAL YET!! OH GOD, WHAT IF TOM HICKS ASKS FOR 10 MINUTES WITH MY WIFE?!”

No one, including Greenberg or Maury Brown has lead Rangers fans to believe this process would be easy. However, they have stated that the Greenberg group is working their asses off and expect to see that work pay off with the sale completed. Many times we’ve been told that we’d see stories pop up of issues with the sale and complications, but that is the nature of the beast compounded with a sonofabitch like Tom Hicks dragging his feet on his debt and hoping to pocket as much as he can out of his disaster. However, if anything, Calcaterra just comes off as supremely naive as to how these deals happen and is displaying a desire to hold a vendetta that just makes him look like an untrustworthy writer.

by ghostofErikThompson on Mar 16, 2010 2:57 PM CDT reply actions  

I think he wants Greenberg to act like this

http://espanol.video.yahoo.com/watch/2184997/6808646

By 2028, Mark Teixeira will be in the HOF.

"I am one of the biggest Texas Ranger fans out there but I'm also one of the smartest. Deal with it."
-The Outlaw

by Gdawg on Mar 16, 2010 4:35 PM CDT up reply actions  

"I reported that there were concerns that there wasn’t enough cash in this deal to make everyone happy"

That’s not Greenberg’s fault. That’s Hicks’ fault since he’s the one that agreed to the purchase and sale agreement (I assume there is one). Hicks accepted the amount of cash and the terms of the agreement believing he could get it done with his creditors.

My gut tells me there’s enough cash in the deal but Hicks doesn’t want it going to his creditors. He’d wants the creditors to take less so HSG gets more. It’s probably simple as that.

"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.

by WyoRanger on Mar 16, 2010 4:54 PM CDT up reply actions  

Craig

First off, I respect the hell out of Craig. Great guy. Smarter than most. One of the best bloggers out there. But…

The headline he has is incorrect. As many have mentioned, this is an issue between HSG and the creditors. I don’t know where Craig is getting that this is about Greenberg. Kaplan never mentions that in his report… he has it right in that the creditors have a bone to pick with HSG.

The only thing you could balk about would be Greenberg saying that things are on track. Well, if you wish to get technical about it, the deal has until 4/1 (the closing date) to get done. After that, it’s past schedule.

Look at the Cubs sale… ANY club sale. Look at collective bargaining in the league (with the last one the exception)… Deals of substance get brokered at the 11th hour. I would guess that the real action will go down the 29-31.

by Maury Brown on Mar 17, 2010 1:52 AM CDT reply actions   2 recs

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