Auction Update, or: How Much Does Mark Cuban Want to Own the Texas Rangers?

Categories: Biz, Sports
cubanmertenphto.jpg
Sam Merten
[Update: As Sam reports, Chuck Greenberg and Nolan Ryan have won the auction. First thing Thursday morning.]

This much, per Sam's latest series of tweets from the Fort Worth courtroom where the Texas Rangers auction drags on ... and on ... and on. After Mark Cuban and Jim Crane submitted the highest bid earlier this afternoon, Chuck Greenberg and Nolan Ryan counter-offered. Which is where we pick up the action of moments ago:
Cuban-Crane bids another $15 million -- cash bid now is $335 million. Greenberg-Ryan wants Chief Restructuring Officer William Snyder to evaluate bid. Judge Russell Nelms, who hasn't worn a robe all day, gives him until 6:15 to do so. Before bidding, Tom Lauria, Greenberg-Ryan's attorney, said, "There's some uncertainty to what the numbers are."

To clarify, clearly the $25-million initial overbid by Cuban-Crane wasn't all cash -- only $11.3 million of it was. When added to Greenberg-Ryan's initial cash bid of $306.7, it brought us to $318 million, which Greenberg-Ryan upped to $320 million. Then Cuban-Crane blew away with its quick $335 counteroffer. Cubes wants this MF'er bad and isn't sweating the process, signing an autograph and posing for a pic with a young gent before the recent action.
I've taken all that from Sam's Twitter account, which you can follow here through the rest of the night. Because damned if he's leaving now. Said Nelms about two hours ago, "We're going to work through tonight" to make sure there's a winning bidder in place before tomorrow's scheduled conformation hearing. To any Friends of Unfair Park in Fort Worth, can Sam stay over tonight? Thanks.

Update at 9:26 p.m.:
Thomas Lauria, Chuck Greenberg's very powerful attorney, is very, very unhappy with how things are going ... or not going, as the case may be. Per Sam's so very fresh tweet of mere moment ago, this is what he just told Nelms: "We feel the process is unfair...This is not an auction. An auction has rules...We're not prepared to continue, Your Honor." Who among us really is, Tom?

Update at 9:30 p.m.: And it just got better, right, Sam's Twitter account? "Lauria said C-C has 50-50 shot at winning MLB approval; Jessup calls that statement 'actionable.'" Jessup is Clifton Jessup, Cuban's attorney. If you're reading this, you already knew that. Or you took a wrong turn.

Update: From Cuban's Twitter account following the end of the auction: "Congrats chuck and nolan. Go Rangers!"

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