SBD/Issue 34/Franchises

Dennis Gilbert Meets With Rangers Officials About Buying Team

Gilbert The Third And Final Potential Owner
To Meet With Rangers In Past Two Weeks
White Sox Special Assistant to the Chair Dennis Gilbert yesterday met with MLB Rangers officials as he "continues to pursue buying the club from Hicks Sports Group," according to Jeff Wilson of the FT. WORTH STAR-TELEGRAM. Gilbert is the "third and final potential owner to meet at Rangers Ballpark in Arlington the past two weeks." The next step in the process of buying the team is to "submit final bids," and a source said that the bids are "due in late November." Wilson notes the winning bid is "expected to be for at least" $500M, though a sale "might not be completed until January" (FT. WORTH STAR-TELEGRAM, 10/29). MLB.com's T.R. Sullivan noted Gilbert's meeting with the Rangers included a tour of Rangers Ballpark in Arlington and "conferences with officials of the Rangers' baseball and business operations." Similar meetings were "held last week with investment groups headed by" Crane Worldwide Logistics Founder Jim Crane and Pittsburgh sports attorney Chuck Greenberg. Sullivan noted the next step "could be formal bids or continued negotiations with" Rangers and Stars Owner Tom Hicks (MLB.com, 10/28).

WATCHING THE STARS: In Dallas, Mike Heika writes he believes Hicks when he "says he wants to remain the owner of the Stars." Heika: "He likes this team. He wants this team to win, and he believes it can win and make money." Heika added it is his guess that if Hicks is able to "come out of this financial storm" that is forcing him to sell the Rangers with his ownership of the Stars in tact, he "will do whatever it takes to start spending to the cap again." Heika: "He obviously can't right now because of the financial situation he's in, but I think that he understands for the long-term success of the franchise, the owner of a hockey team in Texas has to spend money" (DALLAS MORNING NEWS, 10/29).

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