Mark Cuban to buy the Royals?

[wazimo]

Now that Mark Cuban has failed in his attempt to buy the Cub and Texans, what are the chances of him trying to buy the Royals? It's actually a very attractive deal for both the fans and MC. With one of the highest rated farm systems, this team could be good for a while. Add in some extra free agent $$ that Cuban would be prepared to spend and this team could be really exciting in 2011/2012.

I would love Cuban as an owner. Without an owner that cares like Cuban can we really stick with the White Sox spending, the Twins extra stadium revenue, and the Indians? I guess the only downside could be the possibility of Cuban moving the team at some point?

The Royals have a ton of avid fans despite the many losing seasons. What would KC be like if they start winning 90 games a year?

[OnTheWarpath15]

Guess I need to check the news more.

I had heard last night on ESPN Radio that Cuban had outbid Nolan Ryan's group by over $15M to buy the Rangers.

What happened?

[allen_kcCard]

Originally Posted by OnTheWarpath58

Guess I need to check the news more.

I had heard last night on ESPN Radio that Cuban had outbid Nolan Ryan's group by over $15M to buy the Rangers.

What happened?

http://mlb.fanhouse.com/2010/08/05/c...er-mark-cuban/


After a marathon auction that included shouting matches, copious legal challenges and at least one profane exchange between attorneys, the group led by Pittsburgh attorney Chuck Greenberg and Hall of Fame pitcher Nolan Ryan won the auction for the Texas Rangers, finally ending the ownership drama that has surrounded the bankrupt Major League Baseball club for nearly a year.

The winning bid values the team at nearly $600 million, a figure that includes about $385 million in cash and $200 million in existing debt. The final price was nearly 20 percent higher than the opening bid, which valued the team at about $510 million.

The auction played out over 15 hours in a Fort Worth, Texas federal court, with the Greenberg-Ryan group outlasting a series of rising bids from the group led by Dallas Mavericks owner Mark Cuban and Houston freight mogul Jim Crane. At approximately 12:42 a.m. local time, the Cuban-Crane group declined to offer a higher bid, signaling the end of the auction -- and victory for Greenberg and Ryan, the Rangers president. The courtroom reportedly erupted in applause -- and relief -- over the likely conclusion of one the most contentious franchise transactions in sports history.

"A perfect way to end the auction," Greenberg told reporters. "Unexpected, just like everything else in this case."

"It was an emotional roller-coaster,'' said Ryan, the only pitcher in baseball history to throw seven no-hitters. "You go to court one day and it didn't go your way, but you go back another day and it would. It's a relief."

The Rangers became just the third Major League Baseball team ever to be sold in a court auction, and first since 1993, when the Baltimore Orioles were acquired by Peter Angelos after former owner Eli Jacobs filed for Chapter 11 bankruptcy. In 1970, a Wisconsin car salesman named Bud Selig acquired the bankrupt Seattle Pilots and moved the club to his home state, where the Milwaukee Brewers have played for 40 years.

Selig, of course, is now MLB commissioner, and his strong preference for the Greenberg-Ryan group was a key issue throughout the Rangers' on-again, off-again sale. The club was put on the market last year after the holding company controlled by Tom Hicks, the Rangers' former owner, defaulted on more than $500 million worth of loans. After an extensive sale process at the end of last year, Greenberg and Ryan annouced an agreement in January to purchase the team, along with real estate surrounding the club's stadium, for approximately $575 million.

But the Rangers' numerous creditors -- a group that includes Manhattan bankers, Texas state tax authorities and MLB's official hat company -- objected to the terms of the deal and blocked the sale. Among other factors, the largest creditors believed higher bids were ignored by the club and Major League Baseball in order to steer the Rangers to Greenberg, who has ownership stakes in three successful minor-league baseball franchises, and Ryan, the 63-year-old Texas icon.

In late May, the Rangers filed for Chapter 11 bankruptcy as part of a plan -- supported by MLB -- to expedite the sale to the Greenberg-Ryan group via the courts. But the plan backfired, leading to a series of legal squabbles and Wednesday's decisive auction.

At one point in the auction, Thomas Lauria, the lead attorney for the Greenberg-Ryan group, loudly questioned the legitimacy of the Cuban-Crane bids, claiming the rival group did not, in fact, have the proper financing lined up to puchase the team. He described the auction as "a mess," and earlier in the day, Lauria engaged in a profanity-laced exchange with the lawyer for Michael Snyder, the court-appointed officer tapped to work out the dispute between the Rangers and the team's creditors. Had Greenberg and Ryan not won the auction, Lauria said, their group would almost certainly have appealed the results.

Despite their' months-long objections to the Greenberg-Ryan group, the creditors emerged as winners too. In Greenberg-Ryan's original deal to purchase the club, the creditors were slated to receive about $75 million. Now, after the Greenberg-Ryan group altered and significant increased their bid, the creditors will receive far more cash.

The auction results are scheduled to be confirmed on Thursday, and MLB appears eager to welcome the Greenberg-Ryan group quickly. "I'm very pleased and I look forward to Chuck Greenberg and Nolan Ryan leading the team for many years to come," said MLB president Bob DuPuy, Selig's top lieutenant, after the auction. Greenberg and Ryan still must be approved by 75 percent of MLB team owners before they can officially take control of the team.

[ChiTown]

Originally Posted by Dartgod

Really? Because the question was about the Royals. But as usual, in any discussion about the Royals, some douche bag Cards fans feels it is his duty to remind us how awesome their franchise is.

This

[OnTheWarpath15]

Thanks for posting that. I just read the ESPN account of the auction.

Odd process.

Good for Ryan. I'd bet MLB wanted him to win out, anyway.

[kc rush]

Originally Posted by Deberg_1990

Would love it..

One problem....are the Royals for sale?

There were whispers a few weeks ago that Glass was potentially interested in selling now that the value of the team was up (from when he originally purchased it), and doing it prior to increases to capital gains taxes.

I don't know if there was anything to it, but I had heard that in a couple of places.

Either way, its nice to dream about an active owner interested in winning.

[allen_kcCard]

Ok...I will rephrase my answer.

They would be followed even more closely by the current fanbase that they have, and that fanbase would be tripping over themselves to show their approval of new ownership and be shelling out their money to make sure and get to the games and support them with their statement being butts in the seats.

[HemiEd]

Originally Posted by Reerun_KC

I would love the idea... How can we encourage Cuban to make that offer?

I think the sale of this team has some previous clauses, put in the EK estate, correct?

IIRC, any profit from the sale, would have to go to charity?

[Dartgod]

Originally Posted by HemiEd

I think the sale of this team has some previous clauses, put in the EK estate, correct?

IIRC, any profit from the sale, would have to go to charity?

I thought the same thing.

[penguinz]

Originally Posted by HemiEd

I think the sale of this team has some previous clauses, put in the EK estate, correct?

IIRC, any profit from the sale, would have to go to charity?

Glass has now owned the team long enough that this is no longer the case. he can make as much $ as he wants from the sellijng of the team and keep the profits.

[HemiEd]

Originally Posted by penguinz

Glass has now owned the team long enough that this is no longer the case. he can make as much $ as he wants from the sellijng of the team and keep the profits.

Wow, that makes this scenario more appealing. Come on down Mark Cuban!

Oh wait, can the team be moved now? **** that!

[Deberg_1990]

Sell em Glass!!

[kc rush]

Originally Posted by HemiEd

Wow, that makes this scenario more appealing. Come on down Mark Cuban!

Oh wait, can the team be moved now? **** that!

It could be moved, but I think the lease the team signed when the stadium was refurbished makes it difficult and expensive.

[MOhillbilly]

Originally Posted by ChiTown

Everything is for sale........at the right price.

not true.

[Frazod]

And to the threadstarter - "Mark Cuban to buy the Royals?" sort of leads one to believe that there might actually be a story from an informed source claiming that Cuban actually considered the idea, instead of it just being your ****ing pipe dream.

Next time, try "Wouldn't it be nice if Mark Cuban bought the Royals?"

[Demonpenz]

There has been confirmed facts of fans wanting cuban to by the royals. That is been reported time and time again.