Upcoming Draft Will Tell Where the Rangers Sale Stands
Mark it, circle the date, write up a post it, whatever you do to remind yourself of an important date because it is the day we all hope the Rangers sale will be finalized.
With the Rangers sale now in the hands of the Tarrant County court system and seemingly on the whim of the judge overseeing the case, the Rangers are forced to wait and see what happens.
The day to day operations of the team have not been affected yet, but the Rangers did struggle meeting payroll last week and have received more loans from Major League Baseball.
Until the sale is final you can all forget about picking up the frontline catcher the team desperately needs.
You can also stop day dreaming about Roy Oswalt taking the hill at Rangers Ballpark in Arlington in Ranger red and blue.
Major League Baseball is already loaning the team money, meaning the AL West rivals are essentially helping bankroll the team they're fighting with for the division title.
There will be no big ticket additions approved at the deadline if the other owners are still giving the team money.
Luckily the Rangers may have declared bankruptcy at the right time as it is very possible the team will be in Chuck Greenberg and Nolan Ryan's hands with a few weeks to make big trades and a full month before they have to sign their draft picks.
Which brings us to next weeks draft and what fans should be looking for in terms of where the Rangers are in the sale process.
It's no secret Jon Daniels prefers high ceiling, above slot guys over the easy to sign average players.
The Rangers are linked to yet another prized high school pitcher and a probable pricey college infielder.
If Daniels and Co. pick this level of talent they will undoubtedly do so under instructions from Nolan Ryan who would only green light those picks if he was very confident Greenberg will be writing the checks in August.
If they pass on the elite and pick players they can sign using the slot system given by Major League Baseball then things aren't going very well with the lawyers.
Now, I'm no lawyer, but this whole business seems pretty simple to me at this point.
The Rangers owe the lenders $75 million in liens leveraged after Tom Hicks defaulted on his loans. Under the prepackaged bankruptcy plan submitted to the courts, the lenders will receive all $75 million the team is responsible for.
The rest of their money will be the responsibility of Hicks Sports Group and can easily be covered once Hicks does the sports world a favor and sells his other two teams.
I'd be shocked if any judge in the country would side with the lenders in regards to the Rangers debt responsibility since the lenders are getting every dime the Rangers are responsible for in a loan written by these same lenders.
Think about that for a second, the lenders are griping about the terms of a loan they themselves wrote.
No way a judge rules in their favor...right?
We'll find out in a week where the Rangers think this mess will fall, but all indications so far indicate Ryan and Greenberg both expect to get the keys in July.
At which point you can start day dreaming about Roy Oswalt.