Rangers Ownership Situation: This Could Get Ugly

I have published a few posts on the different situations that may play out for the Texas Rangers ownership situation and it looks like the worst situation won. This however should not be a surprise when you look at how big of a moron the current owner Tom Hicks is. The Rangers situation has gotten so bad under Hicks that the latest offer to the over 40 lenders was rejected again.

Don’t Blame the Lenders
You can’t get mad at the lenders for rejecting the deal again, if you think about it why would they accept pennies on the dollar. Each lender entered into an agreement with the Hicks Sports Group and the terms of their agreements were broken by HSG and because of that they are now being offered less money than their original agreement was worth. Hardly seems fair, but when you lend money to a moron like Hicks or a sports team in general you are playing with fire.

What Now?
Bud Selig and MLB have had enough of Tom Hicks, who doesn’t want the deal to go through because he found a more lucrative opportunity after he entered into an exclusive agreement with the group headed by Nolan Ryan and Chuck Greenberg. The law is on MLB’s side as well, with precedence being set recently with the Phoenix Coyotes. The rumor is that MLB will take over the Rangers by the end of this week, which conveniently is the week of the owners meetings.