Mark Cuban Is a 'Serious Bidder' for the Texas Rangers
Cuban's interest in buying a major league team is no secret to anyone who has followed the billionaire in recent years. He wanted to get in on the bidding for the Cubs in 2008 and has been linked to the Rangers for a couple of weeks as the courts try to sort out the mess created during Tom Hicks's stewardship of the club.
Also well known is Major League Baseball's aversion to welcoming Cuban to their club, something that Ryan and Chuck Greenberg, whose bid is supported by MLB, are trying to make clear as part of their effort to avoid postponing an Aug. 4 auction of the team.
Funny that MLB is so concerned with keeping Cuban out while they were more than willing to let Hicks do anything he wanted while owning the club. Had he not put himself at the mercy of lenders, the team could have been sold to Ryan and Greenberg with no problems whatsoever. In other words, you reap what you sow.
Cuban's involvement makes that postponement seem a lot more likely. The lenders owed money by Hicks have said that they are willing to risk losing the Ryan/Greenberg bid -- their financing has an expiration date of Aug. 12 -- if they could get a better deal in the end. Cuban's resources, whether he goes it alone or joins with one or more of the other bidders for the franchise, give them reason to believe that a better deal is coming.
William K. Snyder, the chief restructuring officer appointed by the court, also seems to be leaning toward a more extended process.