Ruling means creditors could block sale
Robert Wilonsky of the Dallas Observer talked to a bankruptcy attorney, who said this about today's ruling:
If the creditors are happy, it's because Lynn didn't just completely pour them out. He is not going to confirm the plan as it now stands, but all Hicks has to do is amend the plan to pay the creditors interest on their 75MM.
Once the new plan goes on file, the two Rangers equity companies have to re-vote to approve it. In order to scuttle the deal now, the creditors have to figure out a way to take control of the Rangers equity companies so they can cast the vote the way they want. The involuntary bankruptcy cases that the creditors filed against the Rangers equity companies may eventually get the creditors some control, but not soon enough I'll bet.
So what does all of that mean? First, that this process will take a little bit longer. And it doesn't mean that the Greenberg-Ryan group will not own the team. My understanding is that it will take some time to sort out what the judge is saying by this ruling before we know exactly what it all means. But it sure looks like the transfer of ownership won't go a smoothly as the team hoped. I'll try to fill you in more when I know more. And please note that I'm not a lawyer (and this stuff confuses me).
Richard Durrett
ESPNDallas.com
ABOUT THIS BLOG
Richard Durrett
Richard Durrett joined ESPNDallas.com in September 2009. He writes about colleges, the Dallas Stars and the Texas Rangers. Richard spent nine years at The Dallas Morning News covering the Rangers, Stars, colleges, motorsports and high schools.
Bryan Dolgin
Bryan Dolgin joined ESPNDallas.com in February of 2011. This is his third season as the radio pre/post game show host of the Texas Rangers, and he also hosts Rangers Magazine. He has worked as a broadcaster for three minor league teams and has worked for ESPN 1000 in Chicago.
Tim MacMahon
Tim MacMahon joined ESPNDallas.com in September 2009. Tim covers the Cowboys and Mavericks. He has covered the local sports scene from high schools to colleges to pros during his six-year tenure at The Dallas Morning News. MacMahon is a graduate of UNT.
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Jeff Caplan joined ESPNDallas.com in December 2009. Jeff covers the Mavericks, Rangers and colleges. He has a wealth of experience in the area, covering multiple beats in his 11-plus years with the Fort Worth Star-Telegram.
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Ben Rogers joined ESPNDallas.com in November 2009. He is one half of "The Ben & Skin Show," heard weekdays from 9a-12p on 103.3 FM ESPN.
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UPCOMING GAMES
| W-L | HM | AW | STK | L10 | |
|---|---|---|---|---|---|
| TOR | 24-21 | 12-10 | 12-11 | L2 | |
| TEX | 27-18 | 11-9 | 16-9 | L1 |
| W-L | HM | AW | STK | L10 | |
|---|---|---|---|---|---|
| TOR | 24-21 | 12-10 | 12-11 | L2 | |
| TEX | 27-18 | 11-9 | 16-9 | L1 |
| W-L | HM | AW | STK | L10 | |
|---|---|---|---|---|---|
| TOR | 24-21 | 12-10 | 12-11 | L2 | |
| TEX | 27-18 | 11-9 | 16-9 | L1 |
TEAM LEADERS
| BA LEADER | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Josh Hamilton
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| OTHER LEADERS | ||||||||||||
| HR | J. Hamilton | 18 | ||||||||||
| RBI | J. Hamilton | 49 | ||||||||||
| R | I. Kinsler | 36 | ||||||||||
| OPS | J. Hamilton | 1.187 | ||||||||||
| W | Y. Darvish | 6 | ||||||||||
| ERA | Y. Darvish | 3.05 | ||||||||||
| SO | Y. Darvish | 63 | ||||||||||
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