Royal Rooters: Texas Rangers file for bankruptcy - Royal Rooters

Jump to content

Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

Texas Rangers file for bankruptcy
Could ARod lose some of the $25 mil they still owe him?

#1 User is offline  
BigSlick 

  • Praying to flop a monster
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 14,423
  • Joined: 16-April 06

Posted 25 May 2010 - 12:01 PM

This has previously happened to both the Cubs and Orioles with no real effect on the game. There is a potential, but unlikely, effect on those they have unsecured debt with, like former players with blue lips.


http://www.usatoday....cy_N.htm?csp=34

This post has been edited by BigSlick: 25 May 2010 - 12:02 PM

0

#2 User is offline  
rominer 

  • Throwing a personal pity party, and everyone's invited.
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 20,079
  • Joined: 11-November 04

Posted 25 May 2010 - 12:07 PM

They should have stayed in Washington.
0

#3 User is offline  
Renton 

  • 25 Man Roster
  • PipPipPipPip
  • Group: Rooters Supporter
  • Posts: 1,701
  • Joined: 14-February 08

Posted 25 May 2010 - 06:56 PM

How do they still owe Mickey Tettleton money?
0

#4 User is offline  
BigSlick 

  • Praying to flop a monster
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 14,423
  • Joined: 16-April 06

Posted 25 May 2010 - 08:45 PM

View PostRenton, on 25 May 2010 - 06:56 PM, said:

How do they still owe Mickey Tettleton money?


You never can tell with the way contracts are written. If I remember correctly, the Mets are paying Bobby Bonilla through 2025.
0

#5 User is offline  
rominer 

  • Throwing a personal pity party, and everyone's invited.
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 20,079
  • Joined: 11-November 04

Posted 25 May 2010 - 08:54 PM

View PostBigSlick, on 25 May 2010 - 08:45 PM, said:

You never can tell with the way contracts are written. If I remember correctly, the Mets are paying Bobby Bonilla through 2025.


Right, but that's Bobby Bonilla.
0

#6 User is offline  
BigSlick 

  • Praying to flop a monster
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 14,423
  • Joined: 16-April 06

Posted 25 May 2010 - 09:00 PM

View Postrominer, on 25 May 2010 - 08:54 PM, said:

Right, but that's Bobby Bonilla.


My bad.
0

#7 User is offline  
roidrage 

  • Nose Goblin Collector
  • PipPipPipPip
  • Group: Rooters Supporter
  • Posts: 2,305
  • Joined: 03-March 05

Posted 25 May 2010 - 09:18 PM

View PostBigSlick, on 25 May 2010 - 08:45 PM, said:

You never can tell with the way contracts are written. If I remember correctly, the Mets are paying Bobby Bonilla through 2025.

2035, actually. Bonilla will be 73 years old. Tettleton could not possibly have done less with the Rangers than Bonilla did with the Mets.

For that contract alone, I love Steve Phillips.
0

#8 User is offline  
BigSlick 

  • Praying to flop a monster
  • PipPipPipPipPip
  • Group: Rooters Supporter
  • Posts: 14,423
  • Joined: 16-April 06

Posted 25 May 2010 - 09:21 PM

View Postroidrage, on 25 May 2010 - 09:18 PM, said:

2035, actually.


My bad.
0

#9 User is offline  
Edmund Dantes 

  • No Real Complaints, Only Imaginary Ones.
  • PipPipPipPipPip
  • Group: Barstaff
  • Posts: 5,067
  • Joined: 17-December 03

Posted 26 May 2010 - 08:20 AM

Don't worry about ARod and others. Part of the structured bankruptcy is that the actual Rangers and Ballpark are unaffected. They will still get their money under the pre-packaged bankrupcty. Hicks is basically using this to get the HSG holding company debts wiped out, sell the team, and use the proceeds to partially pay off the creditors with out being forced into sell to whoever at whatever price. Plus one of the creditors that gets paid off just so happens to be a group that Hicks also owns (the property around the stadium).

It's partially why the other debt holders are not at all happy with how much they are getting paid. I'm guessing they figure that Hicks shouldn't get to clear his debts for HSG while also pocketing $75 million himself.

On another note, it's still bizarre to me that MLB is able to get away with consistently selling their Teams to groups pre-approved by Selig and his cronies even when the winning bids are much lower than from other groups. I guess it's the beauty of anti-trust immunity and other partnership rules.

This post has been edited by Edmund Dantes: 26 May 2010 - 08:21 AM

0

Page 1 of 1
  • You cannot start a new topic
  • You cannot reply to this topic

1 User(s) are reading this topic
0 members, 1 guests, 0 anonymous users