what is ventolin inhaler used for what is the dose for plavix canadarx buy generic viagra online from canada buy lipitor online cheap pictures of trazodone pills ramipril spc where can i order clonidine abana tablets 60 what is the medicine bactroban used for low cost quibron-t aricept 20 mg daily i pill mestinon website billig calcium carbonate online kaufen buy cialis soft 50 tenormin 50 mg daily cheap propecia alternative buy benzac 50 where can i purchase nexium reviews on casodex what does orange juice due to allegra what is the maximum dosage for wellbutrin xl how much nolva to take for pct bupron to buy how to use lamisil cream for toenail fungus can you get high off benadryl liquid gels cheapest tinidazole in the uk buying indocin in manchester what is the best viagra for women order mentax overnight accutane purchase online uk doxycycline hyclate 100mg how to use generic name for atrovent xeloda cheap uk acticin dermal cream generic viagra us shipping buy sustiva pills online generic lipitor price costco crestor vs lipitor price allopurinol medication guide used to treat cephalexin us companies only buying glyset ordering glucotrol xl overnight glipizide metronidazole 500mg iv cefixime capsules 400 mg canadian online pharmacy for minocin billig cyklokapron online kaufen metformin pills smell like fish i pill uroxatral website cheap contact lenses no prescription is it safe to buy zithromax online buy serophene mg online mobic discount is it illegal to order generic lasix tadalis sx uk online comprar propecia sin receta donde puedo comprar serophene how to buy differin 0.3 define content validity xenical australia online buy remeron without a script buy liposafe hong kong cheap accutane pills generic generic pills for malegra dxt how much will claritin cost why has remeron been discontinued haridra cost in canada docycycline hyclate 100mg online no prescription canada pharmacy low cost overnight bactrim cheap generic grifulvin v billig beconase aq online kaufen costco pharmacy voltaren price cheap acivir pills view topic prescription evecare for purchase revatio online pharmacy uk crestor for men sale in uk imitrex sold over counter toprol xl online in usa can you buy revatio discount counter buy brand zovirax what does mean allegra name buy baclofen inhaler canada buy rumalaya gel in ireland remeron no prescription reviews purchase ortho tri cyclen on line in canada retino pills buy where can i get fucidin pills viagra over the counter alternative desert sky pharmacy lipitor mexico how to buy arimidex in canada scalp acne after accutane do i need a prescription for starlix walmart cialis bactroban online no prescription purchase ponstel cheap purchasing kytril online uk what is hyaluronic acid drugs buy kamagra uk online pharmacy bupropion and xanax combination cheap flagyl er uk viagra cialis trial packs levitra buy fml forte online pharmacy caverta generico italiano buy paroxetine in india online accutane in canada prozac nation film trailer diprosone cream ortho tri-cyclen where can i buy it Purchase acticin 10 pharmacy can i buy zantac in canada best site to buy desyrel what does viagra feel like yahoo esomeprazole during pregnancy aciclovir 400mg spc original finax online herbal blue pill uk cytoxan overnight delivery cyklokapron dose menorrhagia can you order lopressor cipla medpro deal brand name shatavari online order etodolac online safe buy tadalis sx online ginseng usa sale bbc schedule sale lincocin is it safe to order medrol order hydrochlorothiazide 50mg nitrofurantoin on line no script buy adalat 200 prometrium prix en pharmacie en france purchase lasix cheap nimotop without insurance zetia for discount is generic viagra available at walgreens synthroid pills pictures is nexium over the counter in canada buy viagra 100 mg voltaren pills 75mg zenegra purchase in canada no prescription what drug category is precose buy medrol online india legal buy metoclopramide online canada are goodrx coupons valid over the counter alternative to wellbutrin avalide drugs for sale order evista online in usa best place to order pariet in us india online pharmacy viagra buy eurax 15mg online cafergot overnight shipping cheap zovirax online from usa can you buy cleocin in ireland safe buy atarax online aspirin medication classification risperdal now co uk canadian pharmacy anafranil erexin-v discount best place to buy zyrtec can you buy levitra super active in ireland 30mg uk what are erythromycin tablets used for diclofenac gel order online canada chloramphenicol valacyclovir hcl generic side effects valtrex does venlor cause weight gain better than lithium what is sustiva used for caverta side effects long term use online drug stores in usa trileptal how to buy what is effexor xr prescribed for claritin medicine online original feldene online to buy extendaquin dilantin online ordering acquistare periactin in italia witch doctor stats hell how much is maxalt without insurance where celadrin about cipla pharmaceutical company compazine limited india cymbalta generic brand cialis low cost generic buy acivir pills 11 pharmacy buy brand name zoloft us pharmacies online that sell ceftin buy amitriptyline line cheapest generic voltaren in usa himcolin shoppers drug mart pharmacy that sells propecia most reliable place to buy ranitidine online diclofenac sodium alcohol side effects why has atrovent been discontinued pharmacie de garde province du luxembourg comprar midamor portugal cheap ralista pills buy cheap kamagra tablets ajanta pharma high blood pressure medications hydrochlorothiazide buy metformin paypal accepted buy proscar online thru paypals what is the correct dosage of coreg cheap micronase usa orlistat online consultation brand name nimotop online periactin from india forum pharmacie en ligne france cheap unisom uk buy cipla cialis domperidone buy breastfeeding order orlistat canada januvia sales forecast in india the new order alliance daoc generic abana online bestellen order rumalaya forte medication by mail fluconazole side effects autism cialis online ireland doxycycline acne gets worse before gets better order haridra online lozol delivery duphalac dose for kids finasteride 1mg canadian pharmacy where can i buy amoxicillin antibiotics online what is ponstel made of asacol 40mg original gyne-lotrimin online chinese cialis is generic cystone effective culturismo femenino dietas asacol hd prices is voltaren better than deep heat nootropil attack dose tricor sales services seroflo low dose birth control generic zantac for infants what types of diflucan are there buy retino a cream 0,025 paypal buy viagra sublingual online no prescription us nizoral online store purchase minocycline cheap guaranteed different colors of synthroid pills rhinathiol expectorant side effects elocon on line no script levlen cheap cheap zyprexa generic atarax medication definition buy erythromycin perth australia retail cost of topamax zantac 75 maximum dosage what is colospa how can i get a prescription for wellbutrin what does ventolin hfa treat purchase amoxil on line in canada buy mentax online amazon wellbutrin 10 mg cost cardizem india no prescription best place buy torsemide generic levitra dapoxetine female cialis on line no script buy meclizine hong kong generic third world now that we found love lyrics can you buy estrace in ireland buy canada no prescription for viagra soft buy tinidazole for daily use generic viagra online us buy ortho tri-cyclen inhaler canada capoten cost canadian ampicillin uses uti comprar stromectol en argentina can you buy hydrocodone online legally i pill pariet website azithromycin side effects in children viagra female germany capoten drug category actoplus met lawsuit settlements buying benzac using paypal health canada lexapro cabergoline men libido cheap viagra free delivery allopurinol non perscription countries generic cialis tadalafil 20 mg india best drugstore foundation for oily skin acne prone skin is there a generic drug for cymbalta etodolac 500 mg reviews accutane medicine interactions brand indinavir buy 100mg viagra street price what diet pills are safe to take with zoloft sores in mouth from methotrexate order doxycycline usa elocon drug classification trial erection packs 2 to buy in the canada without a prescription premarin price what is zebeta made of micardis plus 80 12.5 mg 28 tablet generic azulfidine usa pharmacy no prescription yasmin norvasc iv dose bupropion canada head office kegunaan elocon salep online pharmacy amaryl cystone online coupon code celebrex shopping abilify coupons and discounts special instructions that must be followed when taking simvastatin how to buy oxytrol in london reputable online pharmacy provigil cephalexin best online non prescription pharmacy what does saw palmetto contain is there a generic for ditropan all types coreg pills frumil to purchase without a prescription order viagra plus in prescriptions buspar reviews for gad zebeta on line side effects of prednisone 10mg tablets buy birth control online mastercard purchase aciphex 6 canadian pharmacy aldactone reviews for men is lamictal better than lithium comprar moduretic portugal online pharmacy prescription drugs and generic medications trusted place to buy propecia where to buy leanspa acai cleanse purinethol in croatia strattera dose for adults zanaflex in croatia tretinoin 0,025 online uk best online pharmacy generic viagra soft can you get high from snorting paxil depakote 40 mg dose discount canadian pharmacy valtrex singulair online sales benefits of ginseng capsules rosuvastatin shortage side effects of lamisil and alcohol acai and medication bactrim ds medication estradiol implant discontinued ditropan legal us does tegretol retard cause weight gain neurontin mg buy nymphomax canada prescription pill identifier white oblong m357 cephalexin in pregnancy nhs where to buy cheap generic lopid levitra plus canada head office can you order allegra canada minocin tablet sale viagra online purchase cordarone online meds reviews on malegra dxt betnovate c cream usage clindamycin hydrochloride and alcohol can you buy viagra over the counter in the uk online dostinex mg usa cardizem tablets purchase on line kamagra uk co uk is it legal to buy zithromax online renagel 800 mg tablets mixing viagra and alcohol trental cost comparison walgreens generic drug list elocon on line in the canada date lipitor goes generic generic colospa in usa generic beconase aq no prescription detrol without insurance buy kamagra in ireland suhagra generic 2013 drugs ibuprofen 400mg tab side effects of coming off citalopram what is dapoxetine digoxin medicinenet online pharmacy overnight shipping no prescription buy asacol mg online buy evista paypal accepted get precose toronto costco pharmacy speman price generico do remedio keflex billig cialis sublingual online kaufen side effects estrace pills buspar drug in mexico pharmacy propecia pills singapore how to order diamox online vytorin online ordering actoplus met from europe fastest voveran sr uk delivery overnight pharmacy prescription bupron sr nitrofurantoin ships from india buy depakote online uk elocon online bestellen natural pills for water retention can i get moduretic buy evecare no prescription fast delivery life insurance can you buy aciclovir over the counter in germany terramycin prices at costco is clonidine over the counter buy generic minocycline que es kamagra 50 gel oral how to taper prednisone 40 mg generic combivent for sale on line what kind of medication is abilify cordarone pills buy online cialis over counter trazodone pliva 433 side effects; costco pharmacy duetact price celexa canada head office buy diclofenac gel como usar las pastillas xenical ranitidine 150 capsules order minipress cheap cialis tablet appearance antifludes jarabe adulto depakote coupon code online nootropil purchase buy cozaar perth australia norvasc canada prescription where to get live bait in hawaii how to take arimidex for pct low cost astelin where to buy seroflo in canada safely flagyl medication dogs buy online cefadroxil generic comprar atacand online albenza visa what are the side effects of aspirin buy ephedraxin capsules remeron where to get online doctor prescriptions xanax wellbutrin weight loss study buy compazine generic what is ortho tri-cyclen for clorfenamina maleato dosis order bupron sr online with visa safe place order toradol iv terbutaline asthma lipitor low cost program amaryl over the counter 1mg drugs online does work discount buy alli order minocycline overnight amantadine online purchase arjuna on line in usa keftab paypal lozol looking for over the counter chloramphenicol for children what is detrol for sandoz finasteride 5mg pramipexole hydrochloride tablets can i buy metformin over the counter in uk generic celebrex usa how to use shatavari churna via medstore reviews wellbutrin sr medicine is retin-a ge a prescription drug promethazine w/codeine uk esomeprazole magnesium pregnancy cost of keflex without insurance bupropion cost in canada feldene online overnight purchase amaryl in india where can i get cialis in australia levitra super active over the counter vega 100 tablets singulair over counter equivalent cialis sublingual mg tablet dog tramadol no prescription fast revia deleviery viagra plus tablets from buy can you buy pulmicort over the counter in germany aspirin dose in suspected mi comprar relafen original how to prepare ampicillin stock inhalers online uk brahmi tea australia how to get clomid with a prescription order yagara online no prescription with a visa losartan generic for hyzaar cheap genuine combivent online post cycle therapy triamterene buy actos greece is it legal to purchase prescriptions online lamisil 100mg cheep quibron-t australia price propecia reviews and dosage cialis super active overnight delivery online pill pharmacy billig zyrtec online kaufen what does benicar hct treat online augmentin india rosuvastatin medicine what are the long term side effects of taking metformin buy zyloprim 80 mg online best place buy nymphomax permethrin insecticide brands new england journal of medicine zithromax study danazol next day shipping viagra generic online uk viagra store online is cafergot available on line in canada acai berry costco diet how to use himalaya ayurslim buy propecia paypal accepted can you get high from voltaren can you buy diclofenac over counter england can i order levitra professional no prescription in the usa buy elocon australia viagra online australian pharmacy side effects of zofran 8 mg purchase cafergot mg remeron dose for sleep cheapest clomid no prescription compare prices diakof american suhagra use of lasix in horse racing buy ciplox without a script best anxiety medication with least side effects pariet side effects weight gain zyban uk online buy unisom rx clomiphene side effects pcos post cycle therapy aceon levitra reviews revolution health flagyl comp toprol xl 100 review diflucan fluconazole keflex online legally no prescription lipitor online buy aciphex with paypal health canada inderal side effects of biaxin bid 500mg buy isoptin sr mail order eulexin
Home MLB News MLB Club Sales Texas Rangers Voluntarily Go Into Chapter 11 Bankruptcy to Finish Sale to Greenberg/Ryan Group

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 1407 guests online

Atom RSS

Texas Rangers Voluntarily Go Into Chapter 11 Bankruptcy to Finish Sale to Greenberg/Ryan Group PDF Print E-mail
User Rating: / 20
PoorBest 
MLB Club Sales
Written by Maury Brown   
Monday, 24 May 2010 10:19

Texas Rangers

THIS IS BREAKING NEWS...

Texas Rangers Baseball Partners, the current owners of the Texas Rangers Baseball Club, and Rangers Baseball Express, the local investor group led by team president Nolan Ryan and Chuck Greenberg, today announced a plan to facilitate completion of the previously announced sale of the Club to the Greenberg-Ryan group.  The sale of the Club and its lease of the Rangers Ballpark in Arlington, together with the separate sale of the land around the Ballpark, have an aggregate transaction value of approximately $575 million.

The Rangers sale will be accomplished through a voluntary, “prepackaged,” court-supervised process under Chapter 11 of the U.S. Bankruptcy Code pursuant to a plan previously negotiated and agreed to by the current Rangers owners and the Greenberg-Ryan group.  The prepackaged plan, which is supported by Major League Baseball, current Rangers ownership, and the Greenberg-Ryan group, provides sufficient sale proceeds for the Rangers creditors to recover 100 percent of the portion of HSG Sports Group’s debt that is guaranteed by the Rangers and for all Rangers creditors to be paid in full.

Texas Rangers Baseball Partners has requested that a hearing be held in 45 days to confirm the proposed sale and plan of reorganization.  The sale is expected to be completed by mid-summer, subject to court approval, which will then allow the franchise to exit the Chapter 11 process.

It should be noted, Hicks Sports Group, the holding company that is attempting to complete the sale to the Greenberg/Ryan group is $525 million in debt to 40 creditors. Those creditors and HSG have been at a stalemate over the sale for months. The latest restructure plan by Texas Rangers Baseball Partners, with MLB's blessing, was not made known to the creditors in advance of the announcement today. With the plan ostensibly fulfilling the debt surrounding the Rangers sale, it is unknown what legal footing the creditors have in chellenging the move.

“This plan to complete the sale of the Texas Rangers serves the best interests of the team, its fans, MLB and all other parties involved,” said Baseball Commissioner Allan H. (Bud) Selig.  “This agreement assures an orderly process to expeditiously transfer Rangers ownership to the Greenberg-Ryan group, and it protects the franchise’s baseball operations.  Rangers fans can have confidence that their team has the resources it needs to compete.  Clearly, this could not and would not have happened without Tom Hicks’ leadership and hard work over a long period of time.”

This process and sale are expected to have no impact on Rangers baseball operations.  While the sale is being completed, the current owners will continue to have control of the Club.  Motions have been filed with the court in order that:

  • The Rangers will be able to operate within their existing budget to sign and acquire amateur, international and professional players
  • Ticket prices remain the same and purchased tickets will continue to be honored
  • The fan experience at Rangers Ballpark will be unchanged, with all current amenities and promotions continuing as usual
  • All salaries will be paid
  • Rangers vendors and suppliers will be paid in full

“Since 1998, our family has taken great pride and joy in our association with the Rangers,” said Tom Hicks, who will be Chairman Emeritus of the Rangers.  “We are proud to play an active role in resolving the deadlock in this complex sale process.  Rangers fans deserve management’s full focus on baseball operations, and Nolan, Chuck and their colleagues will be outstanding stewards of the Rangers.  We stand ready to support them in every way possible, and as huge fans we will continue to cheer the Rangers on to the ultimate goal of a World Series championship.”

“Our goal is to move forward with our plan to create a long-term record of success and championships,” said Nolan Ryan, who will continue to serve as Rangers president.  “We will achieve that by being active in the player acquisition market as well as our ongoing commitment to develop players through one of the league’s best farm systems.”

“We are pleased to take this important step towards completion of our transaction,” said Chuck Greenberg.  “Tom Hicks has laid the groundwork for this sale in a manner that best addresses the interests of the Texas Rangers as well as all parties that have a stake in the team.  His agreement to sell the land around the Ballpark  in order to facilitate the sale of the Rangers is just one example of how he has been instrumental in achieving a result that is best for the franchise and its fans.  For our group, the focus will be on rewarding Rangers fans with great performance on the field and memorable experiences in the stands and in the community.”

“Nolan Ryan has a proven track record with MLB club owners and I am prepared to submit this to the owners promptly for their approval,” said Selig.  “Chuck Greenberg and this group of local investors are dedicated to building the franchise’s value and continuing the team’s contributions to the Dallas-Fort Worth community.”

MLB has agreed to provide the Rangers with a new credit facility to ensure that the Club continues to meet all of its obligations while the sale is being completed.

In a separate transaction, Ballpark Real Estate, L.P., an independent investment vehicle controlled by Tom Hicks, whose family also controls HSG Sports Group and its subsidiary Texas Rangers Baseball Partners, entered into an agreement to sell or transfer to the Greenberg-Ryan group approximately 153 of the 195 acres around the Ballpark and Cowboys Stadium that is owned or controlled by Ballpark Real Estate or the Hicks family.  Rangers Baseball Express required this land as a condition to its willingness to purchase the Texas Rangers.  In return for the transferred land, Ballpark Real Estate will receive cash, notes, and an ownership position in Rangers Baseball Express.

HSG Sports Group and its other primary asset, the Dallas Stars hockey team, are not included in the filing.

The filing took place in the U.S. Bankruptcy Court for the Northern District of Texas in Fort Worth.  The Rangers filed customary “First Day Motions” with the Court, which are intended to ensure that the process is seamless and has no adverse impact on the Club’s operations, employees and suppliers.


Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to Forbes SportsMoney blog. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Follow Maury Brown on Twitter Twitter

Follow The Biz of Baseball on Twitter Twitter

FacebookFollow the Business of Sports Network on Facebook

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?