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bizofbaseball.com - 7/2/2009

Rangers May Have Borrowed As Much as $15 Million from MLB to Make Payroll

— bizofbaseball.com — In a sign that Tom Hicks’ financial woes may have reached a critical level, the Texas Rangers may have borrowed as much as $15 million from Major League Baseball to make payroll. The news of the possible shortfall by the club arose yesterday on “Inside Pitch” which airs on SIRIUS XM Radio’s ... (more) Rangers May Have Borrowed As Much as $15 Million from ...

MLB

Texas Rangers

Comments vote downundo vote up Maury posted 7/2/2009posted this

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star-telegram.com - 7/4/2009

Rangers’ work goes on despite money matters

— star-telegram.com — ARLINGTON — With Texas Rangers owner Tom Hicks trying to sell the team, Thursday’s reports that the Hicks Sports Group borrowed millions of dollars from Major League Baseball caused a stir. (more) Rangers’ work goes on despite money matters

MLB

Texas Rangers

Comments vote downundo vote up The Hot Corner found this 7/4/2009found this

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star-telegram.com - 7/2/2009

Tom Hicks 'streamlines’ his sports entities, folds marketing group

— star-telegram.com — Former Stars president Jim Lites is out in the shuffle of Rangers/Stars personnel. (more) Tom Hicks 'streamlines’ his sports entities, folds ...

MLB

Texas Rangers

Comments vote downundo vote up Baseball Time in Arlington found this 7/2/2009found this

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Blalock, Borbon Key Huge Walk-Off Win; Financial Crisis Looming?
Baseball Time in Arlington — ... While team sources -- via D Magazine's Evan Grant -- indicated that this was not the case, that the Rangers had indeed paid their employees for the most recent pay period and that standard operating procedures remained intact, there has reportedly been a contingency plan in place for several weeks under which the Rangers would have been permitted to borrow cash from the league, which wouldn't have placed the team under the control of MLB -- an absolute worse-case scenario if there ever was one -- but would have presumably granted the league influence over how the ballclub ...

Thursday morning Rangers stuff
Lone Star Ball — ... Evan Grant says that the response to reports that the Rangers have had to borrow $15 million from MLB to make payroll has been "no comment." ...

Rangers May Have Borrowed As Much as $15 Million from MLB to Make Payroll
The Biz of Baseball :: Business of Sports Network — ... According to Grant, when contacted, Hicks deferred all comments to team spokesman John Blake. Blake, in turn, “said the team would have no comment on Hicks’ financial situation,” and Nolan Ryan refused comment after Rangers’ 9-7 win over Los Angeles last night. According to Grant: ...

D Magazine: Rangers borrowed $15M from MLB to make payroll
BBTF's Baseball Primer Newsblog — D Magazine: Rangers borrowed $15M from MLB to make payroll Amid increased internet chatter Wednesday that Tom Hicks financial woes are deepening and that the club has borrowed money from MLB’s rainy-day fund, club officials took a strange approach. They went silent. The chatter arose Wednesday after a local blog reported hearing on a national radio broadcast the team had borrowed $15 million from MLB to make its most recent payroll obligations and to fund ongoing operations. Asked about the reports, owner Tom Hicks referred questions to team spokesman John Blake, who said ...

Signs The Rangers' Finances Are Getting More Perilous
6-4-2 — an Angels/Dodgers double play blog — Tom Hicks has folded the marketing group selling the Rangers, splitting employees into their respective teams. (It was plugging both the Dallas Stars hockey team and the Rangers.) The Rangers borrowed $15M from MLB to make payroll. The chatter arose Wednesday after a local blog reported hearing on a national radio broadcast the team had borrowed $15 million from MLB to make its most recent payroll obligations and to fund ongoing operations. Asked about the reports, Hicks referred questions to team spokesman John Blake, who said the ...

Did Rangers have to borrow money from MLB to make payroll?
Big League Stew — ... a caller to Kevin Kennedy's show on XM Radio said he heard the above was true. Though Kennedy didn't corroborate the story, he said his sources in the organization have been painting a shaky financial footing for the team under owner Tom Hicks (right) and that the organization would be sold "sooner, rather than later." All of this was heard by Joe Siegler of Rangerfans, who went home after hearing the segment and blogged about what was said. From there, Evan Grant of D Magazine and Maury of Brown from The Biz of Baseball sprang  into action ...

Hicks in hock
The Hardball Times — The Rangers' financial woes continue: Amid increased internet chatter Wednesday that Tom Hicks’ sports group - Hicks Sports Group - financial woes are deepening and that the club has borrowed money from MLB’s rainy-day fund, team officials took a strange approach. They went silent. The chatter arose Wednesday after a local blog reported hearing on a national radio broadcast the team had borrowed $15 million from MLB to make its most recent payroll obligations and to fund ongoing ...

Rangers Have Uncertain Financial Situation
MLB Rumors - MLBTradeRumors.com — ... Rangers owner Tom Hicks and president Nolan Ryan were among those who dodged questions about the possibility that the Rangers had to borrow $15MM from MLB, according to Evan Grant of D Magazine. One of Grant's sources said the Rangers have had no trouble paying employees and should be able to sign draft picks and international free agents, as expected. ...

Lackey, Texas not a good match?
Angels blog — ... that the fact he grew up 150 miles west of Dallas rooting for the Rangers and idolizing Nolan Ryan doesn’t give the Rangers any special advantage when he hits the free-agent market next season. Here’s a more tangible reason the Rangers don’t look to be big players for Lackey (who is more concerned with a different location — the high-rent neighborhood of CC Sabathia’s salary) — the deepening financial problems of Rangers owner Tom Hicks. Posted in: ...

Stargazing: 2009 NHL Free Agency - Stars sign Skrastins
Defending Big D — ... Inside Corner also reports rumors that Hicks may have borrowed $15 million from MLB. His financial troubles have greatly limited the Stars budget, and Defending Big D asked yesterday: ...

The Rangers are the General Motors of baseball
Circling The Bases — ... reports stating that Hicks did, in fact, need the money to make payroll. I believe the payroll reports because (a) I have no idea what "help assure a stable environment" means; and (b) Major League Baseball has every incentive to downplay the Rangers' problems. Upshot: you don't just give someone $15 million if they don't need it really, really badly. Whatever you want to call it, though, there is no escaping the fact that Hicks has managed the Rangers into the ground. There's also no escaping the fact that we're rapidly approaching a situation where the league is going to ...