Selig wants Rangers sale done but no action on that front

There were no dramatic public announcements concerning the Rangers at the owners meetings in New York.

Major League Baseball apparently has not seized control of the Rangers. The creditors of Hicks Sports Group have not approved the sale. Chuck Greenberg’s group is not yet in control.

All that happened publicly was Commissioner Bud Selig reiterated the need to get the sale completed as quickly as possible.

“I think everyone knows how I feel about that,” Selig said. “I told the owners today and people yesterday — Nolan Ryan [the team's president] and I have already spoken this morning — that that needs to be completed as expeditiously as possible. That’s underscoring, underlying expeditiously. I’m concerned about the length of time it’s taken. I’m concerned for the franchise, for their fans.”

5 Comments

I know this is probably not fair to Tom Hicks, but hey, I’m a Rangers fan. I am SO ready for Hicks and his problems to be GONE. I am SO read for the Greenberg era to BEGIN! I feel like we are being held hostage by Tom Hicks or, at the very least, his financial mistakes. He has done more to hurt this franchise than he has to advance its success.
Dear creditors of Mr. Hicks, what will it take? Can we the fans send you a dollar or two to get this thing done?
Until the sale is done and from the standpoint of a long suffering Rangers fan, it is hard to totally cut loose my great optimism for where this team is headed due to this stalled sale. I’m worried that if I let go and let myself get caught up in the potential success that lies directly ahead, I will get kicked in the shins and punched in the gut like it has happened so many times before. Somebody PLEASE release us from this bondage.

What a mess hyuh? You’ve got it right Sullivanian it probably is more Mr Hicks financial mistakes than him personally. You really can’t blame the creditors either…they’re being asked to take less than what they feel they’re owed. (<aybe blame it on those darn stock brokers in new york who sold those mortgage backed securities and ruined our economy) The whole thing is compounded by the fact that Hicks when he borrowed the money probably valued the Rangers, Stars etc at what they were worth then and by the fact that Hick kept the land deals outside of the team financing. Can’t blame the creditors for not wanting to sue him to get their money when the handhold they have is they don”t have to release the team from the security instrument until Hicks coughs up some of the stadium money. What hasn’t been said is that even if Selig and MLB take over the team the haggling won’t be done…whoever is the loser, Hicks or the creditors, will probably get an injunction and start a law suit that could drag for years.

To follow up with a brief comment on fredr_us, about “blame it on the stock brokers who sold the mortgage-backed securities.” Just for the record: Goverment in the 90′s pushed renters to get homes with the following method: NINJA loans—NoIncomeNoJobNoAssets. This because owning a home, according to some President in the 90′s declared it was a “right.” Huh? Even if all the renters couldn’t afford it and had no money to pay the loan back? Then, once nature took it’s course, it burst, and that’s where we find ourselves in today–the deep, deep doldrums. Some President did the illogical financial decision in the name of “fairness.” This is exactly what motivates the present occupier of the White House–to our detrmiment. “Fairness” does not trump liberty or financial responsibility, though it is still being done now….yikes.

It might have been stock brokers, but the groups like ACORN agitated, with Reno/Holder’s full support, to force lenders to make loans to people who couldn’t afford it. The rest is history.

Hicks is selling the idiot sport’s team which won’t let you use your hands, and his hockey team is counting it’s pennies, and the Rangers are in receivership-almost. Tom did the right thing to pick Nolan-Greenberg group, from a magnanamous standpoint with the local fans….yet, I never could figure how someone with his dire financial straights, can choose from a list of investors that included himself prominently in the group, to bid against itself. That is baffling to this Ranger fan. Please Tom, go away. Please Selig, take control of the Rangers, and put us in a division that is IN the Central Time Zone once again!

bingfanfw, if you remember, we were set to come back to the central time zone. But, Mr. Hicks traded that away for a chance at the hallowed silver boot series every year. HUGE mistake in my book. We had our chance and Hicks blew it. If I remember correctly, the original switch would’ve been to the NL Central. Somebody correct me if I’m wrong there. So, we’ll continue indefinitely with those trips to Seattle, Oakland, and Anaheim of Los Angeles. I would love to see Selig realign all of baseball. But, that’s doubtful unless something dire happens and he thinks it will save the game.

Gosh I had to look around for a minute and see if you know who was back to posting under another name. I wasn’t aware that my response to Sullivanian’s original post was “political” or deserved a “political” response. After all this is a baseball blog. I was however pointing out that the collapse of the world economy probably impacted Tom Hicks more than it impacted you and I. When his assets declined in value (as did your house and your portfolio) he lost his ability to deal with his creditors. He can hardly be blamed for that. Wheelers and dealers abound and truth be known if we could try it we would. There but for the grace of god go you and I. I was also pointing out that it was not his creditor’s fault either. They made good loans and want to be paid back…Hicks sole saleable asset according to reports are the land surround the Ballpark etc. You can’t blame them (the creditors) for wanting some of that money. Right now they’re not entitled to it.
Now if you want to argue politics let’s find another site and I’ll argue you there. You can stick up for Goldman Sachs (the allegedly cheating crooks) and I’ll stick up for the unknown president who would have been influenced by the poor who want to own homes…meanwhile we can keep this blog for reason and baseball and maybe even a little humor.

How about those Rangers??? If Harden has a job tomorrow I’ll be surprised. I’m not sure I’ve ever seen a game I disliked as much!

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