Major League Baseball has loaned millions to Rangers owner Tom Hicks to assist him with the sale of the franchise, although the league hasn’t released any more details other than that.
According to an article in the Dallas Morning News, the sport’s central office withholds $15 million to $20 million owed to each team from central revenues and the sale of the Montreal Expos. Teams can borrow from that with the permission of commissioner Bud Selig, so Hicks isn’t breaking any rules, nor has baseball made an exception here.
But why would Hicks need millions to help him sell the franchise? It’s true that the Rangers have lost money over the years because of bad contracts (A-Rod’s being the worst, of course) and poor attendance sales, but the club is in a top market and their payroll is in the bottom half of the league. So where is all the money going to?
Apparently creditors to Hick’s Hicks Sports Group have declared the company in default, so that might have something to do with him borrowing money from MLB, but something still doesn’t add up here. A-Rod’s contract is off the books, Hank Blalock and Vicente Padilla’s deals are expiring and attendance is up this for the Rangers because they’re playing well. So why borrow?
Whatever the reason, the Rangers (and their fans for that matter) will certainly be better off once cheapo Hicks is out of the picture. The club is showing signs of life and if they can get some more pitching, the Rangers could have a nice team over the next couple years. But with this clown running things, the direction of the organization will always be in flux.
