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Because of Tom Hicks and some rich dudes at Monarch Alternative Capital, Nolan Ryan may no longer be a vital part of your Texas Rangers.
As I hinted at earlier this week, there are last-minute problems with the sale of the team from Hicks to prospective new owner Chuck Greenberg. Big problems. As in Hicks’ creditors realize that Greenberg’s offer wasn’t the highest and, therefore, not the best.
The highest offer to buy the team from the troubled Hicks came from Houston businessman Jim Crane, whose initial flow chart didn’t include Ryan as team president. Major League Baseball is now in control of the sale, but as Hicks says, in its present form the lenders will not approve it.
Hicks also gives us his word that Nolan will be a part of new ownership, but I’m pretty sure his say-so at this point has been diluted as weak as a guy having his house foreclosed. Which, in effect, that’s it.
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The Rangers are in foreclosure. Trying to avoid bankruptcy.
Nice.
If Greenberg balks at adding more money to his offer, he might lose the Rangers. And Texas might lose Nolan Ryan.
Tom Hicks, your legacy is growing.
