Is Mark Cuban a true hero for the Rangers?
Mark Cuban…bad guy right? Bad bad bad?
Tried to steal the Rangers from Chuck Greenberg’s bunch. Tried to run Nolan Ryan out of town right?
Mark Cuban should be tarred and feathered for his audacity in bidding on the Rangers. Everybody agrees right?
Maybe Mark Cuban is the Hero of the Night. Maybe Mark Cuban saved the Rangers.
How stupid is that?
Probably very stupid but…
Remember the lenders. Remember the New Yorkers who held the debt on Hicks Sports Group. They wanted an auction. They were insistent on it. It was their God-given right. They were convinced that there was a higher bidder out there than the Greenbreg Group.
They felt it was Jim Crane, the Houston businessman who was among the original bidders on the Rangers. Let’s have an auction and let Crane take his best shot.
One thing you might want to consider.
If nobody had bid on the Rangers, the lenders would have screammed bloody murder. They would have insisted that the whole thing was rigged. We might still be in court.
Remember they wanted the auction pushed back to late September to allow more bidders. Word was in one dispatch that if Greenberg & Co. were the only bidders, the lenders might challenge the whole auction process was flawed.
There was a second bidder. Not Crane. Cuban and Crane, Curious.
If Crane was really prepared to out-bid Greenberg, why did he need Cuban. Maybe Crane didn’t have the financial muscle that everybody expected.
So it was Crane and Cuban. And, make no mistake about it, around 10 o’clock Wednesday night, it really appeared that Cuban and Crane were going to get the team. Remember, everybody thought that Cuban – by himself – was willing to go over one billion dollars for the Cubs.
It appeared that Cuban-Crane was unbeatable.
Then, it ended, quite suddenly. Cuban and Crane dropped out. Greenberg & Co, got the team for $593 million.
Cuban-Crane said “No mas.”
They never got close to a billion.
Greenberg & Co. won the fight. Cuban goes back to the Mavericks and Crane goes back to Houston.
It’s over. The lenders got their auction and Greenberg got the team.
Think the lenders thought this was going to go over $700 million. Think they had visions of sugar plums dancing in their heads?
Greenberg got it for probably $88 million more in cash than they originally were going to put up. That $88 million would have gone along way toward Cliff Lee, Josh Hamilton, CJ Wilson and others. Ouch.
But maybe that was the price that needed to be paid to get Monarch and others to go away.
Maybe they had to have some kind of auction. Gotta to have it. Cuban created that. Then he dropped out without it getting too painful. Greenberg said re-signing Cliff Lee is still in play.
Never met Cuban. Looks like that will never happen.
But it may be possible that Cuban played the perfect role in this. He played the role of contentious bidder and then dropped out at the right time.
Coincidence? Perhaps. Conspiracy theory? Maybe that’s from reading too much Robert Ludlum.
But maybe Mark Cuban played the exact role the Rangers needed him to play. Maybe he is the real hero of what happened Wednesday night.