Wednesday, August 4, 2010
Latest on the Rangers auction
By Jim Reeves
The Mark Cuban-Jim Crane bid was deemed to be $25 million more than the Chuck Greenberg-Nolan Ryan bid.
The Greenberg-Ryan group was given an hour to come back to court after analyzing the Cuban-Crane bid and update the judge with its status.
Greenberg approached reporters moments ago and said, "If there was going to be an auction, we wanted the rules to be known. Right now they are a moving target. The bid they submitted last night was not a qualifying bid. Eighteen hours later, we still don't have one.
"We believe this is an effort to torpedo our financing. It's not that hard to submit a qualifying bid. They've dragged this out through the morning and afternoon, and we still haven't seen a bid."
At 4:27 p.m., Greenberg's attorney, Thomas Lauria, told the judge that he just got the documents and needed to talk to the debtors.
The Greenberg-Ryan group now has another hour or so to come back to the courtroom.