NEWSFLASH: Tom Hicks' Latest Rangers Ownership Bid Fails?
George W. Bush and Tom Hicks pose for photographers at Rangers Ballpark in Arlington on Thursday, June 18th.In the wake of several notable Wednesday media reports claiming that (a) ex-superagent Dennis Gilbert has emerged as the "surprise" front-runner in the Texas Rangers' ownership competition and (b) that Gilbert and the esteemed Chuck Greenberg are the last two men standing, Evan Grant of the Dallas Morning News now reports that Tom Hicks' last-ditch attempt to retain control of the debt-ridden franchise appears to have been thwarted ... and by Major League Baseball, no less.
Hicks' latest push to secure funds for his fledgling ownership group reportedly entailed negotiations with Fox Sports regarding a possible contract extension for the Rangers' broadcasting rights that would have immediately made cash available to Hicks (albeit to the detriment of future television revenues), thereby strengthening his position relative to Gilbert and Greenberg. However, this proposal apparently failed to receive the requisite support from Major League Baseball, and negotiations have since been tabled.
The fact that Hicks aimed to sacrifice future revenues in order to obtain the capital necessary to reduce the franchise's voluminous debt isn't overly troubling, in and of itself -- but it does serve as a warning sign for those fearful of the possibility of Hicks' fiscal irresponsibility negatively impacting the Rangers well into the next decade, which is obviously something that the commissioner's office and the owners have a vested interest in preventing.
For that matter, what assurances do we have that Hicks wouldn't yet again partake in some massive overleveraging down the line if he were to miraculously retain control of the franchise? Put another way, what is to prevent a repeat of this current debacle five years down the line if Hicks is once again presented with a Liverpool-esque franchise ownership opportunity? Talk about easily breeding motivation for the ownership fraternity to ensure that Hicks doesn't get another crack at his old gig.
Heyman's revelation that Gilbert would be a "hands-on owner" isn't really a revelation at all; rather, it's something that we've known for several months now, and a potential asset if utilized properly, since several of his ideas -- including creating a regional television network and building a Mexican baseball academy with the intention of developing Japanese talent -- boast real promise if properly implemented.
There are certainly underlying areas of concern with Gilbert (his reputed egotistical streak, affiliation with Jerry Reinsdorf and desire to own the Dodgers, for starters), but Greenberg is assuredly not faultless either, and in light of where things currently stand, both options are beginning to appear far preferable to a continuation of the Tom Hicks era.
Quick Hits: Catcher Jarrod Saltalamacchia was removed from his start behind the plate for the Dominican Winter League's Toros del Este on Wednesday, citing "tingling and numbing" in his right arm; the 24-year-old backstop underwent season-ending corrective surgery for Thoracic Outlet Syndrome in September, and while this setback is hardly a killer, it has to increase the Rangers' sense of urgency to find a viable third catcher, be it arbiration-tendered Ivan Rodriguez or an open-market solution.
7 Comments | in Analysis, NEWSFLASH, Rumors, The Off-Season
Reader Comments (7)
The consensus is that it's down to 2 groups. The $ appear to be close. Hicks could and should do this sooner than later. That could potentially ease some of the restraints currently placed on Ryan/Daniels regarding acquisitions. Seems if he cared at all about the health and viability of something he's invested 10 years of his life in, and if he had any regard at all for the fan base, he would stop trying to hang on and get this done already. Unfortunately, fan consideration will not be his legacy.
Instead of "According to Sullivan, it's down to Gilbert & Greenberg," wouldn't it be refreshing to read: "According to Greenberg, it's down to "Gilbert & Sullivan"?
To assure MLB that the new owner would keep sailing in the same direction as the current USS J.D.Nolan, and that he would not collude with the White Sox owner to drain our farm before bolting for the Dodgers... the winner of the 2 could be he who best sang "I am the very model of a modern major general...".
I think Gilbert will be just fine. I don't think anyone interested in baseball enough to buy a franchise would be stupid enough to fire Nolan Ryan (not when he's working in any Texas market). I won't worry too much. He's got to be better than Hicks.
If Dennis Gilbert get this franchise we will become nothing more than a minor league team for the Chicago White Sox and Jerry Reinsdorf! Reinsdorf snaps his fingers and Bud Selig jumps.....and Dennis Gilbert bows down!! Nolan Ryan won't put up with the egos these two guys will bring with them and he will leave, that is if they elect to keep him. gilbert has an immense ego as does his mentor Jerry Reinsdorf.......our minor league system will be pilfered by the ChiSox (bet Kenny Williams and Ozzie Guillen are simply giddy over the fact that they will have their pick of key Texas players over time. We had darn well better hope for a Chuck Greenberg purchase here..........otherwise the Texas Rangers will become just like the old Kansas City A's of the 1950's when they were nothing more than a minor league team for the Yankees..............
I wonder why they can't sell shares in a team like a publiclly traded company? Then the fans become the owners of the team and have a voice through sharholders meetings on issues like the GM and CEO.
I can't buy the Rangers as a team but I'd like to own a small part them.
That's a great idea, Cliff! 49% stockholders, 51% Majority Owner. It would help keep city governments checked and balanced by their tax-payers in relation to their teams' desires; so many owners would work serve as a sort of democratic republic with a monarch always hanging in the balance of their support.
ps Dave H... Any second thoughts on the potential danger/stupidity of Gilbert? (He even thinks he is the very model of a modern major General Manager!)
Here's to Nolan, punching back!
Cheers!
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