Wednesday, August 4, 2010
Latest updates from Rangers auction
By Jim Reeves
Chief restructuring officer William Snyder says with discounts, bids from the Greenberg-Ryan and Cuban-Crane groups are effectively the same.
The attorney representing Greenberg-Ryan wants a ruling from Judge Lynn tomorrow before they continue to bid.
After listening to arguments from both attorneys, Judge Nelms ruled that he will take Cuban-Crane's next bid.
Cuban-Crane bumped their bid to $355 million (cash portion, not including more than $200 million of the team's debt) before discounts. This coming before Greenberg-Ryan had a chance to counter Cuban-Crane's previous offer of $335 million.
Judge Nelms seems intent on taking this to a conclusion tonight. Check back here for the latest updates.