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?

MarkCuban.jpgOr not…

Maybe Mark Cuban is the Hero of the Night. Maybe Mark Cuban saved the Rangers.

You think?

How stupid is that?

Probably very stupid but…

Let’s review…

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.

 

18 Comments

I can’t even entertain the idea, TR, of Cuban being a hero. My admiration of Nolan Ryan knows no bounds and leaves no room for pretenders. Nolan put his game face on yesterday and got her done…just like when he played. Can you think of a better club president? It’s time!

TR, I think this is from lack of sleep. He played the role of contentious bidder, not hero.

$88 million more? More like $115 than the original MLB approved purchase price for Greenberg/Ryan Group at $270 million in cash. Cuban was in bed with the creditors at Monarch and he did what he was suppose to do. Cuban was there to drive up the price, not purchase the team. Cuban made money off this deal (old school, “The hat’s in there you find it”), creditors made money off this deal, as did lawyers on all sides. Rangers fans lost on this deal because over $100 million is going to them and will not be there to put a better team on the field. By the way, MLB approved Tom Hicks who was well known in Dallas for purchasing premium companies, loading them up with debt and driving them into the ground. MLB is the villian.

…”You fool!” croaked the frog, “Now we shall both die! Why on earth did you do that?”

The scorpion shrugged, and did a little jig on the drownings frog’s back.

“I could not help myself. It is my nature.”

Then they both sank into the muddy waters of the swiftly flowing river.

Self destruction – “Its my Nature”, said the Scorpion…

I will never believe that Cuban was a hero. The hero of the night is Nolan Ryan and Chuck Greenburg for fighting for the Rangers.

Wow patrick, I really don’t know what to say. You probably need to stop reading stuff on the internet and start living in real life. First of all, I’m going to say T.R. has his facts right as far as money goes, and that you are completely wrong (something to do with that fairy-land you live in). And I thought T.R.’s conspiracy was far-fetched. Re-read what you wrote, and then smash your computer.

Interesting theory. Not likely in my view. Crane could have bid without Cuban. If he can’t pony up, the lenders are screwed, but they were the one’s who kept propping him up, Crane, before Cuban came aboard. At that point the debtors cards would have been called, and the judge would have to view G-R’s as the winning hand. Not sure that would have provided very much recourse for lenders. Not that that would have mattered of course.

All that to say, Cuban’s role appears to have been A.) to own the club first, B.) to drive up the cash value, which nets him a tidy profit for his investment, and potentially (I’m speculating, mind you) a handsome little kicker from the hedge bankers as a spoiler fee.

Not the definition of hero in my book.

That’s a great theory….and there’s a movie script in there somewhere (with Tom Cruse playing the part of Mark Cuban). I wouldn’t be suprised if that’s what happened, but then again I’m a conspiracy theorist too. When ESPN first broke the story that Cuban was interested in buying the Ranger’s, Cuban stated that what’s most important to him is to keep the Ryan/Greenberg thing going. I shrugged it off as lip service, but who really knows.

For reasons I can?t quite put my finger on, Tom Cruise as Mark Cuban is going to keep my laughing all day. So, what hurdles remain between Greenburg actually assuming ownership?

It was the ultimate insider trading….

Buy up the bad debt

Raise the sale price of the team

Bow out at the right time

Collect a huge profit and walk away

I wouldn’t call Mark Cuban a hero. I would call him a contentious bidder.

But TR is right about one thing. There needed to an auction to make the lenders go away.

There needed to be a second bidder to make the auction legitimate.

If Cuban had not stepped in, there may not have been an auction.

Every good story needs a villian. There has to be conflict that is resolved.

There is strong logic in this argument that Cuban played a vital role in this affair.

It’s just that his motives were questionable.

kfloen,

Got it right. Cuban had NO interest other than driving up the price of the team. The $75 million discrepancy looks like chump change now compared to what it ended up costing. The bottom line is HICKS shouldn’t have been allowed to take this team to bankruptcy. My question is how much money is HICKS going to walk away with now? Whatever it is, i wish i could have paid it. If Hicks would have humbled himself earlier then we would have had a title under Melvin’s leadership. If we re-sign Lee to a multi-year deal then i am ok with trading Beavan and Smoak. If he walks then i am not ok with trading our top pitching prospects. Someone once said, “It is all about the pitching.” The Rangers look like they have finally figured that out. It is going to be scary for the next 3 to 5 years around here. Stability with the same core players. Who would have thunk it.

Cuban lives the limelight and getting things stirred up. He has no baseball knowledge. He is as bad as Dan Snyder of the redskins. A joke.

Cuban ended up playing the villain in this auction, he had to. Like T.R said if only Greenberg-Ryan shows up, the lenders will get all ********** and drag on the process. Even if we lost a lot of money thanks to the auction at least we have a stable ownership and can inject more money into the Rangers budget.

Hefe:

If I’m not mistaken, the next step is for the Ryan/Greenberg group to get their financial plan approved in bankruptcy court so that they can get out from bankruptcy protection. Once that’s done, then MLB can approve the sale and hand the reins over to the new ownership group. This all needs to be done before the 12th for some reason I can’t think of right off hand.

Shed:
The bankrupty plan was approved in a hearing on Thursday, and the next step is the 75% approval of MLB owners. They are meeting on the 12th, and the approval is virtually a foregone conclusion. Sale will be closed/finalized the same day, and on the 13th Greenberg/Ryan will assume control of the team.

* bankruptcy * My bad!

Whether or not you buy what Mark Cuban says, you should at least see what he has to say for yourself before making up your mind: http://blogmaverick.com/2010/08/05/chasing-the-rangers/ (it’s a long post, but you should read it anyway).

Thanks, Mike

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