BOSTON (AP) Texas Rangers owner Tom Hicks says he feels caught in the middle and can only just watch the stalled proposed sale of the club to Chuck Greenberg's group.
On the field at Fenway Park before the Rangers played the Boston Red Sox on Wednesday night, Hicks said the dispute is over the what lenders think the team is worth.
The lenders have to agree with baseball and the buying group that it's the right price, Hicks said. There is some concern that they think somebody will pay a higher price. That's what the dispute's all about.
Baseball commissioner Bud Selig doesn't seem to be happy with the slow pace.
Major League Baseball is currently in control of the sale process and will use all efforts to achieve a closing with the chosen bidder, MLB said in a statement. Any deviation from or interference with the agreed upon sale process by Mr. Hicks or any other party, or any actions in violation of MLB rules or directives will be dealt with appropriately by the commissioner.
The sides announced an agreement on Jan. 23, but creditors of the Hicks Sports Group, which owns the Rangers and the NHL's Dallas Stars, have not approved it.
Right now I feel like a guy in the center court of a tennis match, watching it go back and forth, Hicks said. We're not really involved in it because we don't get any of the proceeds. It all goes to the lenders.
Bob DuPuy, baseball's chief operating officer, said Tuesday he was disappointed it's not closed yet.
I thought it would be done by opening day. I thought it would be done by April 19, Hicks said. Right now, we'll all just have to wait and see. There's nothing I can do.
In February, Hicks Sports Group announced it had retained Galatioto Sports Partners to look for new investors and explore the idea of selling a majority stake in the Stars.
Separately, Hicks and George Gillette Jr. said Friday they had hired Barclays Bank to lead the search for a buyer for Liverpool, which they co-own under a separate entity.
The Rangers sale eventually must be approved by three-quarters of the 30 teams before it can be finalized.
