On Eve of Judge's Decision Concerning Rangers' Sale, a Debate Over the Consequences
|Chuck Greenberg, Tom Hicks and Nolan Ryan on the day the Rangers announced a prepackaged Chapter 11 plan|
MLB officials, creditors and analysts spend a majority of the piece back-and-forthing over whether baseball's interference in the sale will have long-term ramifications. MLB says no; everyone else, "Hell, yes."
Bob DuPuy, MLB's president and chief operating officer who has attended the Rangers' bankruptcy hearings in Texas, said of the Mets deal, "[I] do not agree [the] Rangers [are] having an impact on guarantees. Club and MLB lending relationships [are] constantly evolving based on experiential factors. Lenders and borrowers tailor their documents accordingly."Update: Thanks to the Friend of Unfair Park who points out that the Dallas Business Journal posted the entirety of the piece, gratis, this morning.
Neil Begley, a Moody's Investors Service entertainment analyst, disagreed.
"This is going to tarnish the image of being a lender to MLB," Begley said of the Rangers' bankruptcy case and MLB's position on it.