donde puedo comprar acai berry en mexico buy baclofen pump what is tinidazole stieva a online usa no prescription isotretin mg order where can i purchase zoloft nitroglycerin uk companies only better than simvastatina americans getting drugs from canada prednisone 20mg tab west side effects of ezetimibe 10 mg risperdal online from uk cephalexin discontinued ovral l mg order what is the drug aricept used for ordering mentax india viagra cena beograd buy advair no prescription buy caprysin xr without prescription premarin price increase canada buy kytril online from usa yagara online overnight buy microzide online with no prescription albuterol and steroid inhaler buy albenza online albendazole drug prandin online from uk deltasone without a perscription sandoz lisinopril hctz picture buy triamterene astrailia cheap pot amaryllis kit best site get cardura mail order orlistar online over the counter viagra at cvs online pharmacy no prescription needed biaxin evecare order online buy chloramphenicol eye drops amitriptyline overnight delivery generic kamagra gold no prescription levitra originale online risperdal online canadian buy astelin without a prescription from canadian pharmacy discount raciper from canada what is stromectol 3 mg used for lincocin daily use reviews buy aricept online from usa sepibest uk buy can you order protonix ocd medication anafranil bentyl online usa no prescription canadian pharmacies ed trial packiages antara pills online in the canada where can i buy diprosone mg aricept drugstore.com tretinoin cream online pharmacy buy sominex pills in the australia best site get quetiapinum abilify pills identifier generic permethrinum cost us pharmacy online hydrochlorothiazide bactrim drug schedule buy trileptal in india online sustiva on line with no prescription canadian pharmacy online norvasc can you buy minomycin elavil for sale canada what is xalatan tablets half price differin purchase janumet on line in uk can you order estro how long does lisinopril stay in body voltaren gel cheapest no prescription depakote sale aristocort on line in the india simvastatin and ezetimibe in aortic stenosis zyprexa for men sale in uk buy strattera quick seroquel online from canada where to buy mometasona online without rx discount prednisolone from usa isoniazid doctors online is mail order flagyl safe oracea india no prescription how to buy sustiva in london motrin elixir pediatric dose without self reglan online aciphex non generic drug doctor donde comprar colchicine cheapest place to buy erythromycin canadian metformin online buy probalan quick atacand pills online in the india eldepryl 30 day free trial www.cadadian pharmacy 24h.com aciphex 100 review where can i get colchicine pills acai berry tablets 1500mg reviews adalat la 30 pregnancy what types of cafergot are there azithromycin buy no prescription brand advair diskus for sale philippines cheap pills online no prescription liquid promethazine wiki cheap clincin no prescription 30 dollars clomid 50mg buy online non prescription aciphex pharmacy snovitra super power limited india to buy pletal trandate women buy where can i get aprovel suhagra pills what does cefadroxil look like inderal mg india rogaine 5 birth control online canada prazosin medication for nightmares buy canada no prescription for aleve viagra online order no prescription what is the medicine crestor used for is it safe to order micardis what are neurontin pills used for buy over the counter casodex online buy levothroid tablets india buy olanzapine 100 web pharmacy canada ordering triamterene on line alli over counter weight loss pill differin online pharmacies with out prescription buy alavert online from canada buy cozaar without prescription best place to order biaxin in us accutane on line for sale no script bromocriptine dosage for men is it illegal to order generic cardizem can buy claritin over counter order clincin online no prescription with a visa buy azurette with paypal comprar trandate portugal buy metformin online overnight there any otc viagra acquisto cialis con mastercard omnicef birth control online canada finpecia buy how to get cialis acnetane usa cvs prices most common types of drugs used in sport disulfiramum on line no script best pharmacy online uk buy kamagra fast delivery generic acticin discontinued lithium online canadian amitriptyline canadian online why has zaditor been discontinued ephedraxin over the counter kamagra polo chewable tablets uk side effects of flomax medication duetact fast mexico code red seven pill comprar wellbutrin sr pela internet canada rx connection complaints elimite pct buy alphagan p prices benemid online key pred generic 2013 drugs feldene pricing ordine commercialisti cipro purchase in canada no prescription skechers liv australia buy combivent overseas betnovate without prescription medication cheapest drug accutane finpecia legal in england will viagra go otc zyprexa mg india can i get high on elavil buy dostinex online no prescription uk zoloft generic cost mexico pharmacies online that sell lamisilate cost of fluoxetine to nhs generic uk paypal predalone buy estrofem online usa free viagra sample before buying arimidex from mexico order vistaril on line uk buy retin a gel tretinoin uk buy ventolin without prescription neurontin discount voucher genuine haridra best price lotrisone where to purchase buscar viagra generica barata novolog insulin dosage augmentin duo forte syrup dose micronase buy usa prinivil hctz side effects generic cialis without prescription plavix 75 mg wiki buy retin a gel 0,1 low cheap price best place to buy vytorin in australia buy prilosec online in usa terramycin for dogs side effects buy valporate without prescription lipitor generic release legitimate places to buy viagra online sons sol pharmacy house kdrama wellbutrin sr wiki clonidine reviews ratings buy diarex with a mastercard raloxifeno pills online in the usa purchase brafix on line in canada birth control pill yasmin weight gain atorlip 5 medicine online a good web page to buy advair diskus with no script wigraine online purchase over the counter minocycline nitrofurantoin drug class how to take diflucan mg zantac rx to otc switch buy prednisona online without prescription online pharmacy no prescription needed allopurinol buy flexeril online legally vermox 5mg tablets purchase elocom mg is it safe to take viagra at the age of 25 glucophage side effects muscle pain roxithromycin cheapest rate where to purchase oestrogel does erythromycin cause weight gain cymbalta in italiano male sex enhancer in rose pharmacy silagra prescription coupon where to buy pulmicort mg order yasmin from mexico without prescription vermox fastest delivery us venlor coupon code doxycycline dosage for dogs buy phenergan inhaler canada do i need a prescription for endep buy aricept overseas vytorin buy no prescription midamor cost in canada where to buy cheap generic azitromicina keflex tablets for dogs genuine ethionamide 100mg costo de provera en mexico can i buy tamsulozin in canada voveran sr tablets for purchase misoprostol uk online over the counter medicine that acts as finpecia order 50 mg januvia no prescription alesse low dose wyeth zoloft drugs pregnancy funny pharmacy one liners what are the side effects of using yasmin domperidone dosage for mares canada pharmacies online that sell orlistar atacand 20 mg can you treat chlamydia with augmentin gabapentine no prescription overnight delivery tegretol on line no script bystolic price generic wigraine from canada without rx buy periactin online from canada florinef birth control online india proventil tablets price best place to buy imitrex in uk carbozyne canadian online overnight pharmacy atarax fast mexico amoxycillin buy canada what do paxil pills look like motilium over the counter canada buy elimite pills in the india best place to buy trandate online doxycycline hyclate 50 mg for acne purchase zyvox in india terramycin ointment dapoxetine mg mexico negative side effects of seroquel xr where can i get vagifem vermox from usa pharmacy cleocin gel usa no prescription buy buspar online in the united states without a prescription noroxin shortage 2012 online prescriptions from doctors us half price trial erection packs 3 speman buy uk diana alli order of ontario where can i get viagra online yahoo prescription drug viagra jelly buy mirapex mg online for buy canada no prescription for acai buy sinequan online no prescription buy lipitor online review paxil fda approved to buy without prescription will there generic levaquin buy diflucan 50 mg generic pharmacy valtrex buy zantac no prescription fast delivery zithromycin generic acai buy canada order celadrin accutane buy online approved drugs comprar clomifene original nitroglycerin for sale australia dutas without rx how much will robaxin cost order prazosin online metronidazole flagyl dosage for dogs best place buy zyrtec pct low cost overnight malegra fxt cheap deltasone buy online buy zanaflex online us no prescription canada pharmacies online that sell mentat rogaine results retin a gel 0,1 over the counter can you buy mentat ds syrup online online no prescription pharmacies reviews femara canada head office no prescription tadalis sx where to buy lamisil once viagra in melbourne trental in us costco pharmacy viagra sublingual price buy alli have no prescription buy colchicine with prescription buying phenergan buy pulmicort have no prescription antibiotic macrolide buy erythromycin online buy deltasone online without prescription isotretin brands india metronidazole side effects alcohol where to buy seasonique with echeck what is nitrofurantoin macro used to treat 4 motrin pills discount endep from canada can you get ventolin over the counter 50 mcg synthroid weight loss xanax thailand pharmacies buying v gel serpina online without rx clomid purchase comprar himcolin original en madrid furosemide next day pharmaceutical sales jobs manchester pantoprazole sodium bactrim uk sale sale benfotiamine lariam dose for children ortho cyclen shoppers drug mart bystolic buy uk discount canadian pharmacy aricept generic celexa pill identifier where can i get glycomet pills coversyl uk online buy valacyclovir online no prescription getting benicar in australia buy effexor xr without capsule prescription what does astelin nasal spray approved finasteride 1mg generic price optimmune ointment for dogs side effects how much is famvir tablets can you buy coreg carvedilol drug diovan wholesale order floxin on line usa saw palmetto for dogs tamoxifen gynecomastia lamisil over the counter pills generic for innopran xl accutane lawsuit latest news ranitidine for men sale in uk clonidine ships from india accutane uk prescription cheap yagara diabecon online in usa tadalis no prescription accutane reviews taking is hytrin legal in uk kamagra gold pharmacy prices list alesse generic name for buy albuterol inhaler free shipping no prescription buy pariet discount prescription tamoxifen citrate tablets ip 10 mg benicar purchase in canada no prescription triamterenum without prescription medication can you take olanzapine daily movalis from canada without rx nitrofurantoin trade name india vpxl online purchase biografia de alli simpson wikipedia geriforte syrup how to buy shallaki buy usa what does sertralina how long does it take for paxil to become effective purchasing nexium online buy lisinopril without a script can you take cyklokapron daily uk buy nitroglycerin without prescription discount disulfiramum otc xbox live price increase azithromycin tablets usp 250 mg side effects cialis super active sale tadalafil 20mg 5mg where could i buy vistaril without prescription uk version of prazosin voveran sr maximum dosage online pharmacy oestrogel isoniazid where can i buy fenofibrate 145 mg cost what percentage of drugs in the us come from mexico viagra without prescription buy ciprofloksacin tablets canada clopidogrelum online from canada abilify without prescription pills canadian metoclopramide buy amoxicilina new zealand online buy citalopram tablets cialis for men what does it do buy cheap ampicillin donde comprar lincocin en colombia fasigyne buy usa ajanta pharma limited z pack dosage for sinusitis xenical lawsuit resources for aspiring models ivenox maximum dosage generic alfa flucon no prescription zofran canadian medications without prescription quiero comprar erythromycin purchase nitrofurantoin on line in uk generic periactin weight gain erexin v mega forum lanoxin echeck celadrin delivery rumalaya liniment looking for suppliers of c ratioph in us snovitra super power by mail lozol ordering online pharmacy paxil 100 review gabapentine lowest price motrin dosage for 12 year old costco pharmacy priligy price mestinon generic side effects amantadine fatigue ms lamictal canada companies only can you buy brand amoxil over the counter in germany buy xenical new zealand online nordette canada prescription chloramphenicol delivery buy atorlip 20 online amazon best place to buy flonase in canada pharmacy that sells elavil buy leukeran inhaler canada cytotec pills wholesale roche stops selling acne drug accutane rumalaya gel perth australia ortho tri cyclen cheap buy cytoxan 100mg online hydrodiuril delivery london methylprednisolone 4 mg without prescription is generic hytrin effective extendaquin buy mexico where to buy valtrex drugs online pamelor from canada viagra plus generic equivalent confido from canada without rx oratane without rx glipizide without a prescription lisinopril order on web ciprofloxacina bula anvisa capsulas alli precio toradol dosage where to buy tulasi ointment can meloxicam get you high if you snort it what is shallaki made of canada buy minomycin without prescription mircette depression order elocon cream online click here cheap tofranil pills cardizem online order generic abilify 5mg avapro us companies only where is allington kent ordering trental canada levaquin price india can you buy norvasc without rx claravis australia companies only yaz trusted online drug stores in canada cefadroxil price india original viagrakagra pfizer carvedilolo from canada with no prescription doksazosin lek tablets from buy i want to pay some depakote cytotec pfizer mexico actoplus canada sale phentermine hcl 37.5 mg canada health canada recall minocycline best place to buy clomifene in mexico canadian rogaine 2 buy coumadin hong kong arimidex tablets alcohol where can i get retino a cream 0,05 pills where can i buy eurax mometasona mg canadian rx otomax from uk triamterenum drug in canada pharmacy how long does it take for diflucan to heal a yeast infection generic viagra order online albendazole buyer buying cytoxan in manchester anacin phone orders trileptal reviews for men cialis sublingual dosage recommended deltasone woldwide shipping viagra versus cialis which is better who makes generic plaquenil strattera capsules dosage c ratioph no rx good drugstore makeup for acne buy marvelon online australia elocon prices usa how to make codeine syrup with pills is there a shortage of mexitil calan birth control online uk can i order prevacid no prescription in the usa clomid multiple births success stories can you buy bactrim online buy colospa quick order lanoxin pills purchase allopurinol 300 mg free online pregnancy test calculator feldene spain how much is viagra on nhs prescription where to purchase metronidazol lantus fast usa acheter du clomide buy domperidone without rx olanzapine 10 mg tab indinavir order canada amoxil shoppers drug mart how much does prednisone cost at cvs buy actoplus without prescription quibron t doctors online best cialis super active prices overnight pill shop what is diarex drugs what does fosamax do naproxen and warfarin interactions drug market order sinequan kelnor without prescription medication buy tadalis sx online uk how to buy lariam in london requip for purchase without a prescription mevacor buy mexico cheap feldene mg tramadol side effects uk order serevent without rx buy actos uk diet canadian orlistat alli price buy vermox online at canada pharmacy the online drugstore bentyl order actos online without rx how long does it take valtrex to work for cold sores levitra super active prices at costco famvir for sale uk aristocort without prescrip buy trileptal online no prescription united states generic levothroid uk danazol medicine online buy antabuse capsules can you take innopran xl daily my flunil coupons phone in order for haldol zyvox cost 2011 viagra online kaufen ohne rezept the online drugstore mevacor purchase zovirax ointment what is zofran odt 8 mg clomid online paypal hong kong buy haldol online reviews on anastrozolo bupropion prescription information best price for digoxin brand nizoral buy buy premarin bulk safe sarafem no precription stieva a billig kaufen ordering hydrochlorothiazide usa buy fluoxetine without a script why has oxybutyninum been discontinued cheap generic arava anafranil mg tablet generic for advair diskus 250 50 inhaler buy sumycin online uk canadian purchase brand amoxil in australia tizanidinum side effects uk atarax 100 effets secondaires buy cardura online thru paypals actonel mexico pharmacy hoodia with american express acivir pills 100mg tablet buy cheap erexin v acheter pas cher flexisyn safe alfa flucon no precription online pharmacy uk calcium carbonate levitra pills online purchase lasix 40 mg tofranil canadian medications without prescription zithromax 250mg dosage how do i get viagra from doctor herbal water pills aleve 100 ct best place to buy salbutamol buy clomiphene citrate online no prescription american feldene adalat xl cost buy diprosone mexican pharmacies can you buy albenda online best price for real lotrel best price for real elocom buying citalopram online what is female cialis tablets zestoretic on the internet how to import revatio generic lansoprazol in usa purchase vpxl pills buy zoloft pills in the india cheap plendil 10 mg what is chloromycetin made of accuran without insurance levlen delivery maxalt from merck buy famvir online with mastercard lopid online price retin a 0 025 australia legal to buy clomid online costco pharmacy zaditor price glyburide and pregnancy risks is it safe to order mentax micronase by mail keppra generic equivalent extra strength anacin buy canada apo clopidogrel tablets online how to order levothroid what is januvia tablets walmart pharmacy jobs florida what is the average dosage for synthroid real rogaine before and after cabana herbal medicine canadian pharmacy online zyprexa drugs similar to clincin colchicine medication where to buy best price rumalaya liniment serpina noprescrition needed canada online pharmacy piroxicam dosage cats aldactone reviews for men flucazole online purchase genuine isoptin 100mg what drug category is leukeran best drugstore mineral foundation 2012 benadryl dose for dogs allergies omnicef tablets us online purchase prednisolone 5mg online getting malegra dxt in australia buy promethazine australia order doxazosin buy prescription where to buy remeron without a prescription can order cialis super active online carvedilolo legal us can prednisone 20 mg get you high buy cardizem boots pharmacy comprar liv 52 original all levoxyl vs synthroid messages purchase colospa online nizoral cream no prescription buy serevent overseas due date calculator and when to take a pregnancy test avalide tablets purchase on line best anti anxiety pills order generic raloxifeno how long does baclofen take to take effect buy ondansetrona online no prescription canada thyrohormone buy online australia maximum daily dosage of cialis endep side effects australia ciprofloksacin to buy in the uk without a prescription glucovance online in us florida terramycin acai 100 juice by genesis today order pletal canada eltroxin from canada with no prescription trial erection packs 2 buy online us lisinopril 5 mg tablet identification buying alli from canada no prescription buying tretinoin 0,025 from canada no prescription zanaflex prescription assistance programs us pharmacy online sumycin serevent no prescription compare prices comprare online yasmin viagra dosage recommended 25mg comprar propecia online paypal non prescription cytotec pharmacy cheapest gyne lotrimin tablets uk hyzaar ds dosage antabuse tablets 200mg can i order aciphex online can you buy zestril discount cheapest place to buy carbozyne cephalexin without a script buy rogaine 2 australia oristal generic 2013 drugs celebrex now benadryl generic usa crestor noprescrition needed uk online pharmacy buy antivert without prescription taking 40 mg cialis doxycycline brand positioning desyrel from canada without rx purchase terramycin in australia order brand viagra from india without prescription ordering erexor free viagra sample by mail secure buy cialis soft 40 fastest roaccutane uk delivery best place to buy vytorin in india purchase trental on line in india what does the drug januvia do hytrin drug in germany pharmacy cheap keflex usa how long does clomid take to work for pcos donde comprar hyaluronic acid generic uk paypal raloxifeno dipyridamole express canada flomax overnight pharmacy is abilify over the counter staxyn cost canada how much is alavert tablets torsemide discount no prescription levitra professional mg mexico desyrel by mail order buy generic leukeran online with prescription buy nolvadex online ireland fosamax 10 mg tabletten discount tretinoin 0 05 mg what is cleocin made of where can i buy actonel in canada where can i buy duprost tablets gabapentine india no prescription tetracycline 100mg cheap pill rx health allopurinol products mail order citalopram buy letrozole for gyno zocor heart pro buy is seroquel a schedule 2 drug safe wellbutrin sr no precription best place to buy midamor online eldepryl from canada with no prescription methotrexate need to buy from india cabgolin online in us withdrawal from flomax buy genuine finax uk can we trust trazodone online buy proventil online reviews usa today crestor buy rhinocort 200 is there a shortage of anafranil zofran iv maximum dosage zovirax children dosage buy cafergot quick glucophage sr weight loss can you buy methotrexate lamisil noprescrition needed canada online pharmacy himcocid from india can you order serevent loss mentat pct buy can i get dilantin no prescription kytril sale minoxidil 15 amazon buy medrol dose pack canadian pharmacy no prescription ginette 35 tricor annual sales non generic singulair online best place to order female viagra in us zyloprim india suppliers what is brittle asthma olistat brands india generic bystolic us buy zoloft in canada buspar cheap india pharmacy acquisto mircette sicuro online american haldol order exelon medication by mail venlor discount medications vasotec iv side effects medrol online pharmacy uk no script prednisolone mg vytorin uk pharmacy cheap brafix sale uk is motilium over the counter pariet no script alli diet pill discount lexapro from canada buy baclofen tablets us best price for real suhagra discount malegra dxt of canada canadian pharmacy spam viagra retino a cream 0,05 max dose buy generic lotrel online can you order flagyl er rosuvastatin no prescription reviews aviane 28 online no prescription casodex dose prostate cancer online forum click here buy cheap decadron drugs similar to atarax is chloramphenicol prescription only lanoxin generic usa is there a drug comparative to avana pharmacy examining board canada exam buy asacol pills in the australia citalopram 20mg tablets side effects canada zithromax tablets online proscar 5 mg tablet prescription drug wellbutrin provera tablets online anacin where to get best price for chloroquine thyrohormone mg no prescription billig flomax online kaufen quibron t drug schedule amitriptyline cost comparison finpecia online canadian drug company flomax zyrtec 100 count legal online eldepryl where to get evista rogaine 2 buy uk sale keftab hydrochlorothiazide online from uk fast elavil delivery medication like prevacid most reliable place to buy tinidazole online evecare discounts codes carvedilolo over the counter uk buy over the counter effexor xr online dostinex no prescription reviews levlen ed weight gain the chepest trial erection packs 1 generic viagra without prescriptions trazodone woldwide shipping mentat mg canada toprol over the counter drugs minipress drug in usa pharmacy how to buy himcolin online online sale of lotensin retino a cream 0,025 canada sale donde puedo comprar strattera comprar acivir pills online kamagra chewable online cheap tv live in italia trental pharmacy cual es el precio de redustat toprol xl on line american fluss 40 generic lotrisone united states amaryl uk online esperal on line in the mexico natural antibiotics for abscess pill rx health order pilex products order tadacip from australia without prescription generic menosan paypal where can i purchase casodex is there a drug comparative to dutas buy norvasc without a prescription from canadian pharmacy buy prograf perth australia tetracycline 100 review como evitar los efectos secundarios de la prednisona can you take orlistat daily best place to buy atorlip 10 in usa order seroquel pills can you buy janumet online where to buy buspar mg famvir ordering online pharmacy zestril where to purchase paxil in italia disulfiramum cheap uk is crestor better than generic how to buy estrofem in canada what is arzomicin for buy online dostinex generic safe to buy generic nizagara from canada novo digoxin pills online in the india to buy misoprost tretinoin medication on line mirapex drug classification buy naprosyn online lov cost prednisone canada order avalide tadalis sx 100mg cheep us pharmacy online benadryl levitra plus lowest price online amaryl over the counter canada lady era women buy indian generics online coreg erexin v cheap uk 24 hour walgreens pharmacy near me canadian demadex beconase aq cost in canada retin a 0,05 where to get how to use clonidine for withdrawal how to use amoxil flucazole birth control online uk buy cleocin boots hydrodiuril canada drug store waterloo order of battle allied army where to buy zedd abilify 5 mg and price can i order zithromax no prescription in the usa elocon generic usa purchase retino a cream 0,025 lowest price buy revia tablets canada good reviews on propecia indian pharmacy retin a cymbalta 40 mg dosage is generic propecia safe nizoral cheap mexico pharmacy canadian pharmacy online seroflo buy eulexin paypal buy bystolic tablets india best place to buy detrol in uk can you buy hoodia in stores azitromicina buy mexico isoptin price philippines buy abana from canada where do i florinef in india etodolac for dogs zaditor for dogs buying styplon from canada no prescription lotrel generic name finasteride medication lasuna phone orders purchase valaciclovir in usa nolvadex for men what is a good percent yield for aspirin order toprol no rx canadian pharmacy quiero comprar strattera ampicilina pharmacy prices list where do i bupron in india tinidazole dose for dogs where can i get flagyl from discount dog medicine canada is retino a cream 0,025 available on line in canada best online pharmacy generic cipro buy albendazole uk anthelmintic z pack antibiotic pregnancy tamoxifen birth control online india do you need rx wellbutrin buy tamsulozin singapore erection packs 2 online canadian side effects of terramycin buy allegra mg online for uk pharmacies online that sell levothyroid vasodilan with american express flomax without a prescription from india c ratioph drug canadian pharmacy costco pharmacy sarafem price can you get bupropion in the uk lipothin for men in usa prescription premarin canada serpina discount code how many follicles on 100mg clomid prometrium next day where to buy acivir pills with echeck noroxin brand order apo clopidogrel cheap uk pharmacy 1000 mg keflex saw palmetto online uk institute of nuclear medicine and allied sciences inmas drdo buy generic maxalt online with prescription pharmacy has best price liv 52 tofranil side effects sleep nordette uk sale tamoxifen pills buy order arava without rx citalopram hydrobromide generic name canada drugs nitrofurantoin with prescription cialis soft where can i buy it artane without prescription canada buy antivert online no prescription us tadacip tablete dutasterid uk companies only lexapro 20 mg too much power slim acai berry pills gnc ginette 35 without a perscription lamisilate pills online in the australia malegra fxt mg price viagra professional generic wikipedia drugs buy atacand hct teva viagra canada order mentat on line mexico beloc buy trental greece buy reminyl for daily use buy tindamax online pharmacy top 10 post cycle therapy supplements tofranil drug in canada pharmacy cialis 5 mg for daily use where to buy dutasteride taking prednisone without food pill rx health order movalis products cialis nabp certified online pharmacy buy estrofem tablets us revista online natura 2010 robaxin without prescription miami order erection packs 2 from mexico without prescription order prograf overnight generic aciclovir cost metronidazole no prescription fedex ups discount canadian drug stores lasix women buy where to buy ortho cyclen with echeck where do i alfa flucon in mexico dove posso comprare le bacche di acai drugs similar to lantus purchase toprol in usa can take erythromycin alcohol atacand no prescription buy cymbalta 30mg online reglan tablets used for donde comprar avalide en colombia clomid 50mg vs 100mg side effects low dose aspirin side effects what is indocin 25mg used for liquid viagra for sale uk overseas pharmacy no prescription tretinoin zyprexa 10mg weight gain what is hydromorphone used for order floxin online canada side effects of acai with green tea buy trazodone online uk no prescription buy generic yagara online no prescription list types of chemotherapy drugs celadrin online purchase generic prometrium india canadian drug company dutas buy prednisone perth australia buy zitromax online from mexico sinemet online price levitra plus daily use reviews lamictal 100 mg pill identifier micronase medication where to buy cheapest voltaren buy ponstel tablets can you order vasodilan where to buy cialis in canada online vermox 100mg tabletta licensed pharmacy female cialis trial erection packs 3 cheapest rate order atomoxetin online no prescription with a mastercard colospa express canada best place to buy flagyl online getting serevent in australia antabuse effect on liver buying benemid from canada no prescription albendazole over the counter usa effects clavamox generic usa obelit australia companies only buy erection packs 2 tablets renagel tablets picture procardia with no perscription i want to pay some protonix flagyl side effects alcohol floxin to buy in the canada without a prescription avalide cost canadian viagra jelly coupons fluconazol generic australia best site to buy levothroid erythromycin 250mg tablets for acne albuterol sulfate inhalation solution 0.5 dosage cvs pharmacy propecia price how much will artane cost all prescription pills that get you high order tramadol overnight with mastercard celexa cost canada lamictal cheapest rate where to buy ventolin with echeck flonase no rx remeron coupon code finast shipping overseas pharmacy has best price unisom purchase doxi 1 pills buy clomifene pills in the uk generic predalone india gabapentine without a perscription generic imuran side effects albuterol spain erythromycin topical solution shortage estrace generic drug where can i buy micronase mg buy vpxl pills online generic lamisil pills cytotec drug schedule atridox cost can i buy propecia in dubai ampicillin medication on line mexico pharmacies online that sell seroflo buy prednisone mg online for extendaquin over the counter minipress generic equivalent florida avandamet is liv 52 legal in uk buy lipothin paypal accepted buy elimite 100 speman tablets 40mg altace 10 mg cost bactroban drug schedule online sale of nitrofurantoin canada pharmacies online that sell meclizine topamax cost in canada prednisolona cheap mexico pharmacy where do i noroxin in uk where to buy beta val best price ampicilina can you get high from trazodone erythromycin not generic abana visa xanax erowid alcohol lasilix from mexico how to by aleve online is bystolic legal in uk buy mifepristone cytotec ru486 misoprostol can you buy xeloda over the counter suprax drugstore com pricing female cialis birth control online india redustat orlistat 120mg liomont where to buy allopurinol in canada safely buy olanzapine paypal where to buy flucazole drugs online micardis plus side effects cheap actos prescription buy order 10 erection packs viagra best rosuvastatin prices buy acai berry max cleanse canada beat way to order nootropil buy oracea online india no prescription buy generic metocarbamol online no prescription buy cardura online no prescription usa lisinopril 10 mg injectable ivermectin for chickens ortho cyclen to purchase without a prescription buy generic adderall online no prescription no membership where can i buy cialis sublingual tablets orlistato medication buy asacol in india online where to buy cheap generic didronel female cialis from india calcium carbonate from europe best place to buy orlistatum in mexico all types female cialis pills cipralex no prescription fedex ups toradol discounted acai capsules triple strength review ordering glucotrol xl diet pharmacy ampicillin pas cher italie canadian association pharmacy technicians bc olistat prices usa can i take viagra with atrial fibrillation cheapest paroxetine tablets uk fluconazol buy uk ic azithromycin 250 mg alcohol doxycycline dose for dogs lyme disease bupropionum delivery london generic lexapro not working as well cheap canadian tamoxifen no prescription medrol prospect 16 canadian arjuna mircette 5mg tablets xalatan available in india relafen 40 mg pharmacy albenza cheap uk best place to buy trental in australia can protonix and plavix be taken together order grifulvin v from usa without prescription comprar brand advair diskus portugal buy dipyridamole primatene mist uk fucidin non perscription countries keflex alcohol consumption son buenas las pastillas amsa fast estradiol gel buy cialis side effects muscle pain elocon cream boots pharmacy ortho tri cyclen lo do i have to take the green pills buy albendazole pills in the australia vasotec dosage recommended what does avodart look like get thyroxine toronto buy singulair with a mastercard stieva a where can i buy cheapest hyzaar to buy current share price of bajaj allianz riperdal costco where can you purchase cialis in ireland do i need a prescription for fluoxetina top 10 pharmaceutical companies in india wiki tofranil without prescription medication alli diet pills do they work generic drugs in canada a policy paper billig doksazosin lek online kaufen ordering bactrim without a prescription suppliers of bupropionum in us how to order minipress claritin 100 tablets pharmacy has best price triamterenum where to buy cephalexin online without rx generic rocaltrol safe generic retin a safe simple healthy man meals best place to buy clopidogrelum drugstore pharmacy the real canadian superstore how do you get viagra in australia order actonel rx generic sinequan switzerland cheap accutane 10 mg isotretinoin buy wellbutrin sr fast shipping purchase decadron in usa lansoprazole wiki speman italiano accutane pills online in the canada where to buy clavamox for cats no prescription nizoral drugstore com caverta lowest price kamagra now best place to buy aleve online best place buy rumalaya forte buy ponstel with no script india rx meds bupropionum shelf life discount decadron from canada what kind of steroid is prednisone toprol drugstore com pricing celebrex substitute over counter what is citalopram hbr 20 mg used for what is mirapex used for discount etodolac from canada kamagra chewable cost in canada buy decadron online cheap where to buy methotrexate online uk buy online usa order alphagan fast does wellbutrin work smoking non persciption omnicef where can i buy ciprofloxacina fast vpxl deleviery liposafe from purchase revia on line in canada aspirin 100 mg u trudnoci florida revatio where can i buy glucophage tablets periactin best price clomid ovulation cycle is seroquel better than abilify order cytotec 120 mg best price for real innopran xl what does beconase aq promethazine generic wikipedia drugs remedies for arthritis in feet aciphex buy online ireland canada pharmacies online that sell esperal confido order best place to buy adalat in canada does alli work discount order augmentin without rx viagra in uae council of europe drugs movalis brands india best place to buy malegra dxt comprar clozaril original en madrid phone in order for clomid where purchase aricept mexican premarin what is chloramphenicol used to treat purchase bupropion on line in australia where to buy gabapentin online order generic novo digoxin lexapro mail order canada side effects of amitriptyline hcl 10mg zestoretic 10 mg estrofem pas cher sildalis sale from canadian company buy tamoxifen online with no prescription valtrex buy india buyers of tadalis canada buy neurontin online mexico no prescription buy retino a cream tablets australia pharmacy buy drugs seroquel can i make uroxatral lamictal buy mexico cleocin ovules for bv nootropil iv dose stromectol cheap canada pharmacy ephedraxin for purchase order eltroxin on line uk colchicine discounts codes where to buy prilosec otc order lisinopril 20mg no prescription ordering inderal mexico allopurinol medication side effects generic alphagan no prescription amitriptyline tablets 10mg 25mg 50mg sominex generic 2013 drugs can you order dulcolax how to buy nizoral 2 buy keppra usa order lanoxin uk pharmacy apcalis sx online price abilify medication coupons used generic pills for propranolol nitrofurantoin usa pharmacy valtrex cream side effects cost of ventolin in australia mentax cheapest rate how to use arimidex on cycle sale stieva a can you only get desyrel on prescription promethazine side effects yahoo quetiapinum fast usa depakote perth australia janssen cilag uk ltd can i buy domperidone over the counter diovan valsartan 80 mg cialis ed dosage pictures of synthroid tablets emoquette buy usa online generic elavil actoplus buy online india what is lasix for in horse racing canada and amitriptyline can i buy clomid over the counter in canada brafix delivery uk sale trimox motilium 10mg suppositories babies where to buy tegretol mg inderal reviews aceon tablets buy the vitamin shoppe nyc metrogel side effects long term use buy colospa online india how long do differin side effects last online pharmacy no prescription needed femcare singulair oral tablet 10 mg glycomet shoppers drug mart discount cialis soft of canada india pharmacies online that sell exelon buy allegra generic where can i buy disulfiramo online without a prescription mail order strattera nizoral 2 shampoo reviews original finast online canadian pharmacy online stieva a amoxicilina mg usa flagyl spc how to use nitroglycerin pills generic viagra online pharmacy american express reglan users lawsuit information update mevacor costco apo clopidogrel italiano pet medicines online buy viagra express delivery indian allegra kanthaswamy join estradiol blood test levels comprare vardenafil italia buy remeron pills alphagan p online cheap confido rx best place to buy micronase in uk methotrexate over counter drugs strattera refills trental generic name reviews of northwest pharmacy in canada very cheap malegra dxt buy generic celebrex with bonus confido shelf life sertralina canadian medications without prescription online pharmacy uk norvasc buy over the counter altace online buy glucophage xr 500 viagra professional online australia suprax echeck cialis pill lokk like carbozyne no prescription needed dogs cozaar cheap canada pharmacy buy diovan without a script etodolac no prescription needed acheter viagra sans ordonnance pharmacie paris can you buy acai berry pills at walmart orlistar side effects long term use publix pharmacy hillsborough and habana fast cipro delivery where to buy skelaxin with echeck best place to buy coreg in usa buy serm pct uk decadron birth control online canada bayer ag annual report 2012 buy novo digoxin new zealand online original rhinocort online fasigyne mg canadian rx medicine forzest 20 metronidazol drugstore com pricing cost of bupropion xl 300 remeron next day tretinoin 0 05 tablets side effects overseas pharmacy no prescription disulfiramo warafin perth australia purchase bupron on line in mexico order ceftin online no prescription with a amex order actoplus met online no prescription with a mastercard comprar finasteride colombia where is bora bora island near hytrin pills online in the usa kamagra gold tablets side effects apo furosemida cheap india pharmacy revatio mail order order bactrim from mexico without prescription buy cialis 20 remeron billig kaufen buy generic bupron online with prescription is it illegal to order generic atorlip 20 usa buy percocet without prescription cost comparison viagra levitra cipla cipla medpro singulair mg usa best site get valtrex hq canadian meds colchicine india sale zentel usa sale buying actonel using paypal best online pharmacy generic glucotrol xl dyazide uses medication order online viagra levitra nexium 40 mg tablet nedir strattera no prescription needed where can i buy furosemide without a prescription side effects of half inderal la kamagra uk buyer birth control pills ditropan dr sears med cabinet online blopress purchase buy nitroglycerin have no prescription buy minomycin perth australia apcalis sx doctors online oral cipro dosage for uti 100 mg rosuvastatin buying finast from canada no prescription buy code red 7 pill what does cleocin gel tadalafil 5mg order frumil mentax online no prescription buy bupron sr 100mg online where can i buy over the counter erection pills over the counter clonidine non prescription amoxiline zitromax pills buy cheap myambutol 40 mg raloxifeno no prescription overnight delivery can i buy viagra in singapore buy hydrodiuril singapore is tegretol a prescription drug colchicine brands in india coming off celexa viagra dubai buy propranolol online in canada order antibiotics online overnight finax mist canada ropinirole parkinsons buy real lexapro online overnight levothroid pills online in the australia what are the side effects of taking too much aspirin phone in order for zertalin warafin with no rx price increase eldepryl where to buy noroxin online uk cost of amantadine best place to buy aristocort in canada ordering fluoxetine online recommended sites to buy viagra walmart expense report topamax medication order order vpxl from india without prescription fluconazol prices cvs alesse pills price avodart price in india where to buy apo clopidogrel online uk retino a cream 0,05 express canada how much metformin to take for weight loss generic aceon for sale on line best place to buy lotensin in india wellbutrin buy usa over counter dapoxetine buy voveran in ireland zithromax available in canada buy generic kytril janumet order by phone yaz no prescription fedex ups cozaar xq 5 100 mg linisopril prescription with no refills buy viagra plus pills in the us purchase amitriptyline 50 mg duetact mexico companies only female viagra next day aciclovir genericos cheap metformin au drug best place buy albenza pct generic benfotiamine no prescription costco non aspirin non prescription diflucan pharmacy shatavari online forum letrozole pills for sale imitrex 100 review bupropion price increase roxar 150 roxithromycin tablets side effects comprare viagra farmacia senza ricetta discount duphalac otc zithromax no prescription uk apo clopidogrel online purchase antibiotics online canada overnight hyzaar prescription prices sertraline side effects wear off where plendil stieva a side effects long term use buy advair diskus uk torsemide mail order where to buy aviane 28 online canada can i order clozaril online best place to buy olanzapine buy retin a 0,025 mg online for free coupon for biaxin ic lisinopril himcocid over the couter india pharmacies online that sell micardis how to take ciprofloxacin 500mg tablets best place to buy amoxycillin in australia generic celebrex for sale on line gasex to buy from europe medrol canada pharmacy extendaquin buy online mexico buy renova without prescription retin a micro gel price reviews on digoxin ordering domperidone from new zealand how much does red ginseng cost ceallis cephalexin by mail order gyne lotrimin next day proscar online ireland bactrim prescription only buy finax tablets online where do i buy glycomet ebey medicine flomax best levothyroid prices cheap zyprexa online pharmacy prednisolone no prescription needed bactroban mg canada 5mg zyrtec tablets how long does it take for topamax to help you lose weight buy pamelor online usa accutane 20mg a day order ampicillin from uk without prescription azithromycin uses medication tetracycline acne nhs list of medicines that contain aspirin biaxin online without rx viagra soft medication on line purchase hyaluronic acid pills buy cheap cyklokapron pills stromectol generic name naproxen dosage period pain percocet addiction facts buy xenical low cheap price triamcinolone acetonide cream uses poison ivy baclofen pump side effects of promethazine syrup elavil 10 mg tablets can you buy apcalis sx in ireland buy effexor xr greece how fast does propecia work walmart pharmacy price cipro dipyridamole m r capsules 200 mg erythromycin uses gastroparesis free discount card for prescriptions mexican pharmacy no prescription delta cortef lamictal pills online in the mexico buy actos prescription cheap generic viagra plus online from usa lasix drip order purchase risperdal 4 mg prednisone low cost order order viagra and cialis now acai reviews valtrex medicine aspirin 100 protect preisvergleich is accutane still available in usa zithromax discount medications cheapest prinivil tablets uk purchase salvent in usa order delta cortef online canada purchasing doksazosin lek online uk where to buy cheap generic diltiazem robaxin to buy from europe is alesse a high dose birth control buy bupron in india online canada buy cabgolin without prescription seroflo online without rx buy digoxin mexico how long does it take lanoxin to work top 10 drugstore mascaras buy naprosyn from canada viagra side effects low blood pressure pletal from europe will there generic asacol buy clomid 50mg no prescription singulair medication cost raloxifene hydrochloride cost cephalexin uk procardia on line in the canada generic lotensin 20 mg clavamox online with out prescription where do i oracea in india bactroban over the counter store uk pharmacies online that sell thyrohormone uroxatral reviews for men estrofem over the counter nitroglycerin max dose generic diamox sequels key pred without a perscription medrol 3days delivery ovral l weight gain where do i zyrtec in mexico how to use curacne dilantin order fluconazole tablet for oral thrush cialis 100mg suppliers amitriptyline prescription price pills mupirocin nasal ointment cost best place to buy nootropil in india bupropion on line purchase generic voveran sr in usa buy trental inhaler canada order levlen on line canada buy beta val online from mexico why doxycycline price increase albenza without a prescription from mexico over the counter medicine that acts as remeron naprosyn costco acticin without a prescription from us albenza pharmacy order cialis daily dose online
Home MLB News MLB Club Sales

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 1108 guests online

Atom RSS

feed-image Feed Entries
MLB Club Sales
News and information about the sale of all or part of any of the 30 Major League Baseball clubs.

Selig Pleased Texas Rangers Auction Will Respect MLB's Right to Choose Owner PDF Print E-mail
User Rating: / 10
PoorBest 
MLB Club Sales
Written by Maury Brown   
Tuesday, 06 July 2010 17:33

Bud Selig

In speaking to the media before next week’s All-Star Game, Commissioner Selig addressed the issue of the Texas Rangers, and their continued saga in bankruptcy court. Selig’s comments came the day after the Rangers and the group led by Chuck Greenberg and Nolan Ryan agreed to allow the bidding process to be opened back up, and the process for an auction to take place. The motion for bidding was done with approval of the Chief Restructuring Officer, William Snyder, who was appointed by Judge Michael Lynn.

“It certainly has been a long and winding road,” Selig said of the Rangers sale process. “Tom Hicks put the club into bankruptcy in January, and this has been an interesting but a very difficult process. The Greenberg/Ryan group has lived up to everything that they said they would, but we have to deal with the bankruptcy laws”

(EDITOR'S NOTE: Hicks did not place the Rangers into voluntary bankruptcy until May 24. The exclusivity agreement with the Greenberg/Ryan group was reached in December)

Selig said that the process needed to completed very quickly, and that he had spoken to Nolan Ryan this morning before court appointed mediation was to take place.

Selig said that Major League Baseball was not at the crux of the stalled process, but rather current ownership.

“I want to say this, this has nothing to do with baseball economics,” Selig said. “Sometimes that gets misunderstood. This has everything to do with Mr. Hicks and his personal economic situation."

Since December, the Greenberg/Ryan group has had an exclusivity agreement to work toward closing the sale, something that is being waived as part of the auction process. Selig made it clear that he, and the league, still support that group. “We’ve told everybody that, and I would have liked to see the Greenberg/Ryan group approved some time ago, but as we move forward, hopefully we can get this resolved.”

Selig was pleased that the bidding process will allow them to select the ownership group they wish to see installed, regardless of whether the Greenberg/Ryan group has the highest bid or not. Creditors for the Rangers have said repeatedly that Houston businessman Jim Crane has a higher bid on the table, which will play itself out should Crane pursue the purchase of the Rangers through the auction on July 16.

“Let me make this clear, baseball has always had the right to select their ownership,” Selig said. “There’s a long history of that that predates my entry into baseball in the 1970. So, I’m very, very comfortable in telling you that, yes, I was pleased [in the CRO’s advisement that MLB can ultimately approve the owners of the Rangers]. But there’s no doubt in my mind that we have the right to select ownership, and will do that.”

RELATED CONTENT:


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

 
While Risky, Opening Up Bidding For Texas Rangers Should Assist Greenberg-Ryan Group PDF Print E-mail
User Rating: / 11
PoorBest 
MLB Club Sales
Written by Maury Brown   
Monday, 05 July 2010 23:47

Texas RangersLate on Monday,Texas Rangers Baseball Partners filed two documents that look to swiftly move the Texas Rangers out of Chapter 11 bankruptcy. The first motion opens the process up for other potential bidders, while the second motion requests to expedite a hearing for the bidding to July 16, a week from this coming Friday. Both documents were cleared by the Chief Restructuring Officer (CFO), William Snyder, making any chances for Judge Michael Lynn to reject the motions extremely thin.

The Greenberg/Ryan group claims “stalking horse” status, meaning any bid filed would have to exceed their $502 million bid for the Rangers assets by at least $20 million, or at least $522 million. Of that $20 million, $15 million would come back to the Greenberg/Ryan group as a “break-up fee” (the $15 million represents approximately 3% of the transaction value)

A statement by the Greenberg/Ryan group on Monday also says that they have secured the $575 million offering in escrow needed to complete the sale of the Rangers assets, as well as the land around the Ballpark, an exceptional move to prefund the sale, something rarely done. The move lays to rest persistent rumors that the group has been undercapitalized.

The Bid process is outlined as follows:

The Debtor shall (i) provide reasonable assistance to Qualified Bidders in conducting their due diligence investigations, (ii) receive offers from Qualified Bidders and (iii) keep the CRO and his counsel and advisors reasonably informed of those actions listed in (i) and (ii).

The CRO, in consultation with the Debtor, shall negotiate any offers made to purchase the TRBP Assets. Only a Qualified Bidder may participate in the bidding process. Neither the Debtor nor its representatives shall be obligated to furnish any information of any kind to any person who is not a Qualified Bidder.

To facilitate the Auction and to assist the Debtor and the CRO in assessing the terms of each bid, prospective bidders must work from the Asset Purchase Agreement (as defined in the Motion), to prepare their bids and mark all proposed changes to such agreement as part of their bid. The Asset Purchase Agreement is attached to the Motion as Exhibit C, and is also available on the main docket of these cases.

As noted, there is little time for potential bidders to get their ducks in a row, but in many senses is reasonable given that new bidders have access to all information that has been involved in the Greenberg/Ryan bid without having to make any investments to counter. The bids of any Qualified Bidder wanting to participate in the Auction must submit a Qualified Bid (as defined below) on or before July 16, 2010 at 10:00 a.m. (prevailing Central Time) (the “Bid Deadline”) in writing, to Texas Rangers Baseball Partners and William Snyder, the CRO. Each bidder will have to file a “Good Faith Deposit” of $1.5 million. As noted in the document:

Good Faith Deposits of all Qualified Bidders shall be held in a separate interest-bearing account for the Debtor’s benefit until the earlier of (a) August 12, 2010 or (b) consummation of a transaction involving any other Qualified Bidder for the TRBP Assets. If a Successful Bidder fails to consummate an approved Sale because of a breach or failure to perform on the part of such Successful Bidder, the Debtor will not have any obligation to return the Good Faith Deposit deposited by such Successful Bidder, and such Good Faith Deposit shall irrevocably become property of the Debtor without affecting or reducing any of the Debtor’s other rights or claims against such party.

The process is locked down, with exception. Under the section, Modification of Bidding Procedures, there is further wiggle room to allow the Greenberg/Ryan group to be selected.

Except as expressly provided herein, the procedures set forth herein cannot be amended or modified without the express written consent of the Proposed Buyer. The Debtor reserves the right to (i) withdraw its offer to sell the TRBP Assets at any time subsequent to the Auction, subject to payment of the Stalking Horse Protections if then due pursuant to the Bidding Procedures Order, and (ii) reject any or all bids other than the Stalking Horse Bid if, in the CRO’s reasonable business judgment, in consultation with the Debtor, such other bids are not for a fair and adequate price.

MLB’s acceptance of any bidder will be allowed to trump the outcome of the ruling by Judge Lynn at the Confirmation Hearing set for July 22 at 9:30am CT at the United States Bankruptcy Court for the Northern District of Texas, Eldon B. Mahon U.S. Courthouse. The hearing could extend into the next day. As outlined in the document:

Following the Confirmation Hearing and entry of a Court order approving the Successful Bid and Debtor’s Plan of Reorganization, the Qualified Bidder shall be required to seek the approval of Major League Baseball in accordance with the Major League Baseball Constitution, the MLB Guidelines, and other relevant rules and regulations of MLB. Should the Qualified Bidder be unable to obtain the requisite approval of MLB, then the Backup Bid shall be submitted to MLB for such approval.

If the highest bidder is not accepted, the “Backup Bidder” will be deemed to have won the auction and the creditors will be allowed to sue for damages, with the highest bidder being able to only recover the $1.5 million Good Faith Deposit:

If for any reason the entity or entities that submit(s) the Successful Bid fails to consummate the purchase of the TRBP Assets, the offeror of the Backup Bid (the “Backup Bidder”) will automatically be deemed to have submitted the highest and best bid, and the Debtor and such Backup Bidder are authorized to effect the sale of the TRBP Assets to such Backup Bidder as soon as is commercially reasonable. Following the Confirmation Hearing (i) if such failure to consummate the purchase is the result of a breach by the Successful Bidder, the Debtor reserves the right to seek all available damages from the defaulting Successful Bidder as modified by the terms of the asset purchase agreement reached pursuant to the Successful Bid and (ii) if such failure to consummate the purchase is the result of a breach by the Debtor, the Successful Bidder shall have no recourse against the Debtor other than for recovery of its Good Faith Deposit.

The open bidding is for the Texas Rangers assets and does not include the land around the Ballpark, a key source of revenue through parking, not only for Texas Rangers games, but for Dallas Cowboys games, as well. There is an existing "BRE Land Use Arrangement” which is a Memorandum Regarding Existing Land Use Arrangement by and between BRE and TRBP, dated as of May 20, 2010. The Greenberg/Ryan group has agreed to pay $70 million for the parcels. Any bidders would have to reach agreement on the 154 acres of land as part of a separate set of negotiations around the sale as the Lenders do not have liens against the land being sold.

Monday's motions are likely to make Tuesday's mediation hearing moot.


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

 
Greenberg/Ryan Group Say Full Amount for Texas Rangers Purchase in Escrow PDF Print E-mail
User Rating: / 12
PoorBest 
MLB Club Sales
Written by Maury Brown   
Monday, 05 July 2010 19:54

Texas Rangers

THIS IS BREAKING NEWS....

The following is a statement from the investor group headed by Chuck Greenberg and Nolan Ryan, the prospective bidders for the Texas Rangers:

The investor group led by sports attorney Chuck Greenberg and Hall of Famer Nolan Ryan confirmed today that it has received into escrow the full amount needed for the equity portion of its purchase of the Texas Rangers and has executed definitive financing agreements for the debt portion of the deal. This extraordinary step puts the Greenberg/Ryan group in position to close the transaction promptly upon confirmation of the Rangers' Chapter 11 plan (which pays all of the team's creditors in full) and Major League Baseball's final approval of the agreement.

"We wanted everyone to know that our proposal is fully funded, that we are ready to close and that our number one objective is to get the team out of Chapter 11 as quickly as possible," said Greenberg. "All we need is the Rangers getting their Chapter 11 plan confirmed and final approval from MLB."

In a related move, the Greenberg/Ryan group also announced it had negotiated terms with Rangers representatives and William Snyder, the Court-appointed chief restructuring officer for the team's parent holding companies, pursuant to which Greenberg and Ryan would waive their exclusive right to purchase the team and permit the $575 million transaction to be market tested for a second time.

This arrangement is intended to overcome the efforts of Hicks Sports Group lenders to extract additional payments by delaying the team's exit from Chapter 11. Instead of engaging the lenders in continued legal maneuvering that could be detrimental to the team, the Greenberg/Ryan Group agreed to give other potential purchasers one final opportunity to submit a topping bid. Subject to obtaining bankruptcy court approval, it is anticipated that July 16 will be the bid deadline and that the purchase of the team will be consummated by late July or early August.

"Our group was selected last December after an extensive marketing process because we put forward the strongest bid for the Rangers," said Greenberg. "Today, nearly seven months later, our bid is still superior and best serves the interests of the Rangers and their fans."

"Our goal is to do everything possible to bring this process to conclusion so that we can continue to build on the progress we've made on the field the past two seasons and so that the fans and our community can turn their full attention to this great season." said Ryan, who is a partner in the deal and would continue to serve as the team's president when the deal closes.

MORE NEWS AS IT BECOMES AVAILABLE


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

 
Texas Rangers Confirmation Hearing Moved Back to July 22 PDF Print E-mail
User Rating: / 8
PoorBest 
MLB Club Sales
Written by Maury Brown   
Thursday, 01 July 2010 19:57

Texas RangersThe confirmation hearing to approve the prepackaged plan that would exit the Texas Rangers from Chapter 11 bankruptcy has moved, yet again, on the calendar, back to July 22 but keeps the July 6 mediation hearing date, a sign that the court appointed mediation process is a last ditch effort to get the creditors concessions that they will find acceptable, while satisfying MLB in keeping with the Chuck Greenberg/Nolan Ryan ownership group they wish to see control the club. As the court order reads:

The Honorable Russell F. Nelms, United States Bankruptcy Judge for the Northern District of Texas, is appointed to act as mediator (the “Mediator”). The following entities, (a) the Debtor, (b) Major League Baseball (including the Office of the Commissioner), (c) The Ad Hoc Group of First Lien Lenders, (d) J.P. Morgan Chase, Administrative Agent for the First Lien Holders, (e) GSP Finance LLC, Administrative Agent for the Second Lien Holders ((c)– (e), collectively, the “Lenders”), (f) the Official Committee of Unsecured Creditors and (g) William Snyder, in his capacity as Chief Restructuring Officer of Rangers Equity Holdings, L.P. and Rangers Equity Holdings GP, LLC (all of the foregoing being referred to herein as the “Parties”) are ordered to mediation regarding the Debtor’s proposed plan of reorganization and treatment of the Lenders’ claims thereunder. In order to allow as much time as possible for the Parties to reach an accord, the mediation shall commence at 12:00 p.m. on July 6, 2010…… unless Judge Nelms directs that mediation occur at a different time or place. Once commenced, the mediation may continue, at the discretion of the Mediator, on July 8 and July 16 until concluded, or at such other times as directed by the Mediator.

Adding, that “The hearing on confirmation of the Debtor’s Plan is reset to July 22, 2010, at 9:30 a.m., and shall continue on July 23, 2010, at 9:30 a.m., if necessary.”

The moving of the confirmation hearing is part of a back and forth playing out on the calendar. The hearing, originally scheduled for July 9 was initially moved to the 22nd by Judge Lynn to allow time for mediation. Rangers Baseball Express, the investor group led by Chuck Greenberg and Nolan Ryan filed an emergency filing looking to bump the hearing back to its original July 9 date to allow time to be active at the trade deadline. Allowing more time in mediation should certainly assist in a stabilizing what has been a rocky period in the Texas Rangers sale case.

According to a report by Evan Grant of the Dallas Morning News, on July 16 a one-day auction is set for the sale of the club to the highest bidder. The open bid is part of Chief Restructuring Officer William Snider’s is expected recommendation to Judge D. Michael Lynn in the case.

But, the open bidding does not mean MLB has to approve any sale other than Greenberg/Ryan.

MLB President and COO Bob Dupuy confirmed the auction, but in speaking to the SportsBusiness Daily said, “No one has suggested that any auction occur that in anyway obviates MLB's clear and unambiguous right to approve or disapprove any ownership candidate,” he wrote in an e-mail. “There has been absolutely no discussion of that with either of the judges involved or the CRO.”

The league has said repeatedly that Crane would not be approved as an owner, which leaves the group led by Dennis Gilbert and Jeff Beck as the other group that will make a play for the highest bid.

But as noted by DuPuy, the CRO recognizes the approval process MLB has in terms of ownership. Everything appears to landing in mediation where the creditors, MLB, and the Greenberg/Ryan group need to come to some sort of amicable agreement to allow matters to move forward before the July 22 confirmation hearing… Of course unless the hearing moves on the calendar (again).


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

 
Restructuring Officer Recommends Bidding Be Opened Back Up for Texas Rangers PDF Print E-mail
User Rating: / 7
PoorBest 
MLB Club Sales
Written by Maury Brown   
Thursday, 01 July 2010 14:11

Texas RangersUPDATE: Evan Grant of the Dallas Morning News is reporting that a one day auction for the Rangers will take place on July 16th. As Grant reports that, "Prospective CEO Chuck Greenberg, whose Rangers Baseball Express Group has held exclusive negotiating rights on the team since January, had to agree to the auction process."

Greenberg also holds "stalking horse" status. His bid of approximately $575 million will need to be beat by at least $10 million in order to select a new buyer, the source indicated. It is unclear if Greenberg can sweeten his bid between now and the time of the auction on the 16th.


On Monday, for a column for Forbes entitled Is a Decision Pre-Ordained in the Texas Rangers Bankruptcy Case?, I wrote:

Some have seen the fact that the tongue-lashing [from Judge Lynn], along with bumping the court date, and court appointed mediation, as signs that Lynn is leaning toward the creditors in this case, will therefore not approve the prepackaged plan, and thus throw the case into disarray.

Those close to the situation believe Judge Lynn’s tirade is cover for a decision that has been pre-ordained, and the bidding process will be opened back up for the likes of Houston businessman Jim Crane to step back in. In discussions, some analysts I have spoken to pondered whether the mediation process is a way to open the bidding back up “under the radar”, that is, without officially doing so before Lynn rules on the prepackaged plan.

It seems that this “nuclear” option stands a chance of becoming the truth.

According to Daniel Kaplan of the SportsBusiness Journal, William Snyder, the court appointed chief restructuring officer (CRO), has informed MLB President and COO Bob DuPuy that he is recommending that the bidding be opened back up in the Texas Rangers sale. As reported:

Federal judge Michael Lynn is scheduled to approve or turn down the team’s amended bankruptcy plan next Friday.

If Lynn approves the plan, the creditors would likely appeal the decision to a federal appeals court in New Orleans. To do so, they would need an immediate stay and likely have to post a $525 million bond, the amount of principal owed. But the lenders might not need to if the judge and the chief restructuring officer decide there are better offers for the team.

At that point all eyes will turn to MLB. After a hearing in the case last week, MLB’s chief outside counsel Stephen Shimshak said on an open telephone line, as reported by the Fort Worth Star-Telegram and confirmed by multiple sources to SportsBusiness Journal, that if the judge turns down the plan, MLB would respond by taking over the franchise. Shimshak did not reply to a request for comment.

As I said more than once on Dallas/Ft. Worth area radio last week, I believe MLB’s threat is very real. I also don’t see how any other group other than Greenberg/Ryan would be accepted by the league. They have repeatedly stated that they support only that group, and to change that direction would signal that MLB (and other sports leagues) no longer are in charge of who they select as part of the ownership collection within the league.  As I further opined for Forbes on Monday (see Will the Texas Rangers Case Go Nuclear?):

This “nuclear winter”, that would likely pale what has already transpired, could wind up creating a landmark case in which the selection of an owner by a league, is at stake. In that, the case of the Texas Rangers would move well beyond the scope of just Major League Baseball. It would become the litmus test for all sports leagues. Where league control was part of the Phoenix Coyotes bankruptcy case, with relocation more the focus, the Rangers case could define it.


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

 
Court Documents Gives Rare Glimpse Into Finances of Texas Rangers PDF Print E-mail
User Rating: / 27
PoorBest 
MLB Club Sales
Written by Maury Brown   
Tuesday, 29 June 2010 16:58

Texas RangersUPDATE: Response by Jamey Newberg added.


According to court documents filed today in the Texas Rangers voluntary bankruptcy case, the club is is in danger of seeing gross income lower this year than last, and may not meet last year’s totals, an increase from 2008. The documents are a rare glimpse into the finances of a Major League club.

According the Statement of Financial Affairs for the Rangers, the club had $54,933,861 in gross income as of 5/31/10. Last year, the club saw $167,367,982 in total gross income, compared to $149,461,715 for 2008.

The document also gives a rare glimpse into how much front office personnel make, including current owner, Tom Hicks. Hicks is shown to have made $183,594 in salary from 6/15/09 - 5/24/10 with expenses of $14,452. However, Hicks Holding, LLC saw $64,737.85 in reimbursements for travel expenses and TOH Investors, LP, an entity directly or indirectly owned and controlled by Hicks saw $1,966,644.65 under an “A/R Factoring Agreement”.

(SEE THE DOCUMENT, WHICH ALSO DETAILS EXPENSES)

And Hicks is not the only executive to see salary information released. From 5/29/09- 5/24/10 current president of the Rangers and prospective owner Nolan Ryan made $1,540,527 in salary with $85,750 in expenses. Kellie Fischer, the Rangers CFO made $235,081 in salary and bonuses with $1,284 in expenses from 5/29/09- 5/24/10.

In addition, the Rangers have racked up $801,721 in legal fees to five different law firms dealing with payments related to debt counseling or bankruptcy.

On top of the voluntary and involuntary bankruptcy cases, the Rangers are involved in 5 other suits or administrative proceedings, including a case by former Rangers scout Roney Calderon who is seeking $100,000 in severance pay.

The document has detailed ledger of expenses, ranging from New ERA cap, and Rawlings. But what may be of interest to media surrounds redacted sections of the ledger for expenses to Jamey Newberg of the popular The Newberg Report blog. From the Star-Telegram:

Jamison "Jamey" Newberg, who operates a popular website, The Newberg Report, was paid $27,125 by the team from February through April, according to the court document filed late Monday.

Newberg said the payments likely were for books he sold the club. And while he received no money for his blog, the Rangers did finance his family's trip to spring training in Surprise, Ariz.

A lengthy 2004 Dallas Observer article described Newberg's blog as a must-read for fans and even baseball beat writers and team officials who, it said, were initially suspicious of Newberg.

There is no disclaimer on his blog site that Newberg has been paid for services to the Rangers. Near the end of the Observer piece, the weekly said: "Perhaps one day Newberg will finally get what he wants — a shot at working for a big-league club."

Early on Weds. Newberg responded by saying:

I do provide content to the Rangers every week for their own website, and provide content to the Rangers every month for their gameday program, and provide thousands of abridged Bound Editions to the Rangers every year so they can give a copy to each of their season ticket accounts. For a few years I also wrote and recorded video packages every homestand for the Rangers to air on the video board between innings; we’ve shelved that project so far this season. I don’t give those things away. I have been compensated by the Rangers for those things, and also get some of my spring training trip reimbursed – that’s a working week for me.

RELATED CONTENT:


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

 
Texas Rangers File Amendment to "Prepacked Plan" to Address Judge's Concerns PDF Print E-mail
User Rating: / 39
PoorBest 
MLB Club Sales
Written by Maury Brown   
Monday, 28 June 2010 01:37

Texas Rangers

UPDATE: See Is a Decision Pre-Ordained in the Texas Rangers Bankruptcy Case? on Forbes SportsMoney for additional information on the Texas Rangers case.


Texas Rangers Baseball Partners, the current owners of the Texas Rangers, have filed an amended version of the “prepackaged plan” that seems to address requirements by U.S. Bankruptcy Judge D. Michael Lynn that would lift “impairments” to certain classes of creditors of the ballclub. If those impairments are lifted, the plan, that is designed to pay the secured and unsecured lenders of the Rangers, would no longer be able to block the sale via vote.

First Lien Holder Claim section (as well as the section for Second Lien Holder Claims that has the same verbiage, but has “First Lien Holder” replaced with “Second Lien Holder”, reads:

On the Effective Date, an amount of Cash equal to $75 million (or the amount outstanding under the First Lien Credit Agreement and Second Lien Credit Agreement if less than $75 million is outstanding in the aggregate under the First Lien Credit Agreement and Second Lien Credit Agreement on the Effective Date), together with postpetition interest for the period from the Commencement Date through the Effective Date (to the extent the Bankruptcy Court determines that holders of such Claims are entitled to postpetition interest in order for such Claims to be unimpaired), shall be paid to JPMorgan Chase Bank, N.A., as administrative agent for the holders of Allowed First Lien Holder Claims, to be applied in accordance with the First Lien Credit Agreement, the Second Lien Credit Agreement, and the Intercreditor Agreement. On and after the Effective Date, the holders of Allowed First Lien Holder Claims shall retain all existing contractual rights against the Debtor or its affiliates to which they are entitled under the First Lien Credit Agreement and related documents.

The plan has also been updated to address the right of the creditors to sue for damages. The sections for the First and Second Lien Holders reads:

Right to Pursue Damages On and after the Effective Date, the holders of Allowed [First and Second] Lien Holder Claims shall retain all existing contractual rights against the Debtor or its affiliates to which they areentitled under the First Lien Credit Agreement and related documents.

What is unclear is whether these changes will allow the third class, TRBP Equity Interest, to then have its impairment lifted. The latest amended document shows no changes from prior versions and continues to read, “The Debtor submits that [TRBP Equity Interest] is unimpaired by the Prepackaged Plan, each holder of an Allowed TRBP Equity Interest is not entitled to vote to accept or reject the Prepackaged Plan, and should be conclusively deemed to accept the Prepackaged Plan.”

The update to the prepackaged plan comes after Judge Lynn had set a July 22 confirmation hearing date, that was later moved back to July 9 after an emergency motion to keep that date was filed by Ranger Baseball Express, the investor group led by Chuck Greenberg and Nolan Ryan. While Lynn agreed to keep the date, it came with stern words from the judge about the situation at hand.

“You guys, not me, you guys are the ones who pushed for this,” Lynn told them. “For the sake of the Rangers, I do not want to see this team stuck in Chapter 11 until this fall.”

He added, “We will not decide based on what the fans want ... what the media wants ... what Mr. Ryan or Mr. Greenberg wants, or what (Baseball Commissioner) Bud Selig wants. I will deny confirmation, and we’re back to square one, and it will be on the heads of those who support this motion.”

To add further tension to the case, Stephen Shimshak, an attorney representing the Commissioner’s Office, let the following fly after the phone conference was done, not knowing that the call was still on.

"If [Lynn] doesn’t confirm the plan we’ll just terminate the franchise. We'll take over the g--damn franchise."

Look for more on Forbes SportsMoney later on Monday.

RELATED CONTENT:


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

 
UPDATE: Judge Agrees to Not Delay Hearing in Texas Rangers Case, But Chastises Greenberg/Ryan Group PDF Print E-mail
User Rating: / 7
PoorBest 
MLB Club Sales
Written by Maury Brown   
Friday, 25 June 2010 10:42

Texas RangersUPDATE #2: Adds quotes from Lynn link to Forbes story (Will the Texas Rangers Case Go Nuclear?)

UPDATE #1: Sources indicate that Judge Lynn has accepted the motion to reconsider and that mediation has been set for July 6 with the confirmation hearing set back to the July 9 date, confirmed by multiple sources.


Yesterday, U.S. Bankruptcy Judge Michael Lynn ordered the sides in the Texas Rangers bankruptcy case into mediation, and in doing so, rescheduled the July 9 confirmation hearing on the “prepackaged plan”, bumping it to July 22.

Today, a motion to reconsider the July 22 rescheduled hearing date was filed by Rangers Baseball Express, the prospective ownership group headed by Chuck Greenberg and Nolan Ryan, citing the July 31 trade deadline and other business related matters, as part of the reason for reconsideration.  The motion seeks to have the hearing no later than July 12.

The motion reads in part, “This case is very time sensitive. Despite its excellent on-field performance during the 2010 season to-date, the Texas Rangers franchise is cash poor and operates with significant negative cash flow... There is no indication that further delays serves the best interests of anyone.”

The motion addresses potential changes to Rangers Ballpark that the prospective ownership group would make in the off-season, should they gain control of the club.

“RBE plans to make certain material capital improvements to Rangers Ballpark before next season. Some of these planned improvements require more than a full offseason to design, procure, construct, and complete. The delays in the sale process that have already taken place present significant challenges to completing these projects prior to Opening Day 2011. Further delays gravely risk the ability to complete the projects on time, which would have a material adverse impact on the franchise’s performance in 2011.”

Judge Lynn approved the motion, but that doesn’t mean the change came easy or without considerable bluster from Judge Lynn.

“You guys, not me, you guys are the ones who pushed for this,” Lynn told them. “For the sake of the Rangers, I do not want to see this team stuck in Chapter 11 until this fall.”

The tongue lashing didn’t stop there, and at least one bankruptcy attorney’s face blushed scarlet.

“We will not decide based on what the fans want ... what the media wants ... what Mr. Ryan or Mr. Greenberg wants, or what (Baseball Commissioner) Bud Selig wants,” Lynn declared from the bench. If the revised plan falls short of satisfactorily addressing the interests of all affected parties, “I will deny confirmation, and we’re back to square one, and it will be on the heads of those who support this motion.”

Originally, a July 2 date was set for the confirmation hearing on the “prepackaged plan”, but was moved to July 9 to allow Judge Lynn to return from vacationing on a cruise.

(EDITOR'S NOTE: For more on today's events, see Maury Brown's latest on Forbes SportsMoney, Will the Texas Rangers Case Go Nuclear?)

RELATED CONTENT:


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

 
Key Creditors in Texas Rangers Bankruptcy Case Issue Statement on Tuesday's Ruling PDF Print E-mail
MLB Club Sales
Written by Maury Brown   
Tuesday, 22 June 2010 22:07

Texas Rangers

THIS IS BREAKING NEWS...

The Ad Hoc Group of First Lien Lenders (collectively, the “Lenders”) in the Texas Rangers Baseball Partners (“TRBP”) bankruptcy matter today issued the following statement in connection with today’s Court ruling:

"We welcome today's developments, in which Judge Lynn upheld the Lenders’ initial and long-standing conviction: that the current plan to sell the Texas Rangers impairs the Lenders, as well as Rangers Equity Owners, and gives them a right to consent to the proposed sale. Also, in today’s hearing, Judge Lynn confirmed the parties’ agreement to the appointment of William Snyder as a Chief Restructuring Officer of the Rangers Equity Holders,an independent fiduciary charged with ensuring that the plan that is put forward is in the best interests of the creditors of these equity holders, including the Lenders, who have claims of more than $500 million against those equity holders."

MORE DETAILS AS THEY BECOME AVAILABLE

RELATED CONTENT:


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

 
Greenberg/Ryan Group Issues Statement on Bankruptcy Texas Rangers Ruling PDF Print E-mail
MLB Club Sales
Written by Maury Brown   
Tuesday, 22 June 2010 21:15

Texas RangersThe folloiwng is a statement released by Rangers Baseball Express, LLC, the group of investors led by Chuck Greenberg and Nolan Ryan regarding today's ruling by a U.S. bankruptcy court judge:

United States Bankruptcy Judge Dennis Michael Lynn issued a Memorandum Opinion today addressing certain key legal issues regarding the bankruptcy of the Texas Rangers and the proposed plan of reorganization.  The proposed buyer of the Texas Rangers, Rangers Baseball Express, LLC, the investor group led by Chuck Greenberg and Nolan Ryan, is pleased with the Judge’s ruling.  The opinion lays out a road map to rapid confirmation of the plan, consistent with the schedule established when the case was filed.

The plan calls for the sale of the Texas Rangers to Rangers Baseball Express, LLC.  Central to the opinion was the contention of the Ad Hoc Group of First Lien Lenders (the “Lenders”) that they be granted an effective veto over any proposed sale of the Rangers.  Judge Lynn ruled that the Bankruptcy Code does not require that the plan confer such rights and  determined the plan may go forward with certain modifications, described in the Opinion, to protect the legal rights of the Lenders.  Such modifications can be made by Texas Rangers Baseball Partners (the “Debtor”) without the consent of the Lenders.  If those modifications are made, the Lenders will be deemed to have accepted the plan and will not be entitled to vote against it and will not have the ability to block the sale.

Judge Lynn rejected the Lenders’ argument that they are entitled to speak in the bankruptcy case for the two general partners that own the Debtor.  He determined that the Rangers’ equity owners, and not the Lenders, would continue to speak for those entities.  In determining whether to accept or reject the plan, the Rangers’ equity owners  are required to seek court approval and will need to act in a manner consistent with the fiduciary duties imposed by the Bankruptcy Code.

In a separate hearing today, Judge Lynn appointed William Snyder, a prominent corporate restructuring specialist in Dallas, as the Chief Restructuring Officer for the two general partners.  Mr. Snyder will have the opportunity review the proposed plan and determine whether the contemplated sale of the Texas Rangers to Rangers Baseball Express, LLC would serve the best interests of the two general partners, the Debtor, and their creditors.  Rangers Baseball Express, LLC welcomes the appointment of Mr. Snyder and has confidence that, after a careful and timely review, he will conclude that confirmation of the plan on the schedule currently set by the Court would serve the best interests of the Texas Rangers, its owners, and their creditors.

The ruling is consistent with an Order, entered on June 21, 2010, to schedule a hearing to confirm the plan for July 9, 2010.  At that hearing, the Debtor will be required to prove the plan meets the standards for confirmation under the Bankruptcy Code.

MORE DETAILS AS THEY BECOME AVAILABLE

RELATED CONTENT:


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

 
«StartPrev12345678910NextEnd»

Page 9 of 19
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?