Magic Johnson’s winning $2.3 billion offer for the Los Angeles Dodgers probably was fueled by what one sports economist called a “wild bidding process” that will unfold between Time Warner Cable Inc. and News Corp.’s Fox Sports for the Major League Baseball team’s broadcast rights.
Chuck Greenberg, former chief executive officer and co-owner of the Texas Rangers baseball team, may seek to purchase the bankrupt Dallas Stars of the National Hockey League, a lawyer said today in court.
The Dallas Stars, the bankrupt National Hockey League team, won court permission to sell itself at an auction in which hotelier Tom Gaglardi may compete with lawyer Chuck Greenberg, a former co-owner of the Texas Rangers.
The bankruptcy judge who presided over the reorganization of the Texas Rangers professional baseball club told one of the team’s eventual buyers during a conference in July 9 that he could no longer speak to the press as a lawyer, only as a businessman aiming to buy the franchise.
The partnership that owns the Texas Rangers professional baseball club filed a so-called prepackaged Chapter 11 reorganization yesterday in Forth Worth, Texas, to sell the operation in a transaction the club said has a value of $575 million.
American Safety Razor Co. , the fourth-largest maker of wet-shaving blades, filed a Chapter 11 petition yesterday where the company will be sold to first-lien lenders in exchange for debt unless second-lien creditors make arrangements to pay off the senior creditors within seven weeks.