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Tweak it. Or trash it.
That’s the charge from the bankruptcy judge in the Texas Rangers’ proposed sale from Tom Hicks to Chuck Greenberg. When the judge decries that the Rangers have to modify their current plan – but not add more money to the deal – it seems like a win for the creditors, right?
In a statement, however, the Rangers say “the investor group led by Chuck Greenberg and Nolan Ryan, is pleased with the Judge’s ruling.” The lenders, of course, are happy – “We welcome today’s developments” – because if the Rangers don’t sufficiently alter their current plan they’ll get the right to vote (re: nix) the deal down, start from scratch and re-open the team to other bidders like Houston businessman Jim Crane.
Lotta legalese involved here, but the bottom line seems to be this:
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Tom Hicks will screw this team for yet another season.
The trading deadline is July 31. The dream deadline for the Rangers to emerge from bankruptcy and be sold is July 9. Not enough time. Because we all know this thing – turnaround expert or not – will drag out.
“We can operate normally within the budget that was set last fall,” says general manager Jon Daniels. “We went into the offseason and the season with the expectation that we were going to be a good club and may want and need to have some ability to upgrade the club. Nothing’s changed in that regard.”
The good news: Julio Borbon homered and the Rangers beat the Pirates, 6-3, for their ninth consecutive win.
The bad news: Coulda sworn I saw Tom Hicks sitting in the first row at Rangers Ballpark.
