570 big ones

[LeTallecWiz]

Hopefully to be pushed into our club ...

A group headed by Pittsburgh attorney Chuck Greenberg, called Rangers Baseball Express, has a deal in place to purchase the Texas Rangers from owner Tom Hicks, Hicks Sports Group announced Saturday night.

A sale price was not announced, but a source said the price tag was under $570 million, which includes the team, the lease at Rangers Ballpark in Arlington and approximately 153 acres of real estate around the park. The real estate portion of the agreement was part of a separate transaction, which transfers most of the land controlled by Hicks around the ballpark and Cowboys Stadium to the Greenberg group.

 

[Farkmaster]

[quote author=LeTallecWiz link=topic=38613.msg1041988#msg1041988 date=1264315018]
Hopefully to be pushed into our club ...

A group headed by Pittsburgh attorney Chuck Greenberg, called Rangers Baseball Express, has a deal in place to purchase the Texas Rangers from owner Tom Hicks, Hicks Sports Group announced Saturday night.

A sale price was not announced, but a source said the price tag was under $570 million, which includes the team, the lease at Rangers Ballpark in Arlington and approximately 153 acres of real estate around the park. The real estate portion of the agreement was part of a separate transaction, which transfers most of the land controlled by Hicks around the ballpark and Cowboys Stadium to the Greenberg group.

[/quote]

Why would they invest that money when they don't have to?

 

[IGotALuvlyBunchOfCoconuts]

Highly unlikely we'll see any of that.
Would be nice if both chipped in for the stadium.

 

[Biggus Dickus]

The vast majority will go to the banks that he owes money too. Not sure if he even gets a profit out of that.

However it will clear the way for news about us, whatever it may be, most likely investment and/or stadium news in the near future IMO.

 

[LeTallecWiz]

[quote author=Farkmaster link=topic=38613.msg1041990#msg1041990 date=1264317613]
[quote author=LeTallecWiz link=topic=38613.msg1041988#msg1041988 date=1264315018]
Hopefully to be pushed into our club ...

A group headed by Pittsburgh attorney Chuck Greenberg, called Rangers Baseball Express, has a deal in place to purchase the Texas Rangers from owner Tom Hicks, Hicks Sports Group announced Saturday night.

A sale price was not announced, but a source said the price tag was under $570 million, which includes the team, the lease at Rangers Ballpark in Arlington and approximately 153 acres of real estate around the park. The real estate portion of the agreement was part of a separate transaction, which transfers most of the land controlled by Hicks around the ballpark and Cowboys Stadium to the Greenberg group.

[/quote]

Why would they invest that money when they don't have to?
[/quote]

Can I man not hope for miracles senor Fark?

 

[vantage]

You said big ones. They're dollars actually .

 

[dee]

[quote author=vantage link=topic=38613.msg1042065#msg1042065 date=1264334756]
You said big ones. They're dollars actually .
[/quote]

£354M

 

[Rosco]

The deal needs to be ratified by MLB and the creditors of Hicks Sports Group.

There won't be much left once they take what they're owed, and there is zero chance of any of it being invested in LFC

 

[Avmenon]

True enough; but it might at least silence some of the wolves at the door.

 

[Hansern]

[quote author=Rosco link=topic=38613.msg1042082#msg1042082 date=1264338035]
The deal needs to be ratified by MLB and the creditors of Hicks Sports Group.

There won't be much left once they take what they're owed, and there is zero chance of any of it being invested in LFC
[/quote]

You know how much debt he has in the Texas Rangers Ross? Why wouldn't they invest, both owners will now have recieved close to 350 mill £. An investment of 50 mill £ isn't much compared.

 

[Rosco]

No idea Hansern, but MLB did lend the Rangers 15m to help cover the wage bill at one point last season so the club definitely wasn't in great shape financially. Another article I read mentioned 40 different creditors have a say in the sale, it didn't mention how much they were each owed.

As for the investment, what would they get out of it ?

 

[Hansern]

Thats true, I remember the wage bill issue.

Well, as for the return of investment. Maybe any potential investor wants both owners to inject some cash aswell.

 

[SaintGeorge67]

didn't he sign A-Rod to some insane contract?

 

[The Slugmonster]

Well at least this give fans the option to shout 'now pay off the debt you put this club into, OR FUCK OFF !'

 

[Whaddapie]

[quote author=SaintGeorge67 link=topic=38613.msg1042114#msg1042114 date=1264342685]
didn't he sign A-Rod to some insane contract?
[/quote]

Yes. More than a quarter of a billion dollars, over ten years.

Most of which he is still paying, many years after the prick moved to New York.

 

[Rosco]

I thought they got off the hook for that money when A-rod opted out of the contract

 

[Biggus Dickus]

The $525 million is owed by HSG which also own the Dallas Stars so I am not sure how much of the debt is tied to the Rangers, probably a lot but Hicks should still make a decent profit.

 

[The Nomad]

Ha ha ha...

We won't see a penny. Hicks talks the talk, but has consistently failed to walk the walk.