Chasing the Rangers

First of all, nothing but the best for Chuck and Nolan.  I want the Rangers to win the World Series as much as any fan does and I think they have the right people on the field and off to help them do it.

So why did I go chasing the Rangers despite all the negative media attention ?  Because I believe  it was the right thing to do.

FIrst some background. This wasn’t a spur of the moment thing.  More than a year ago, before the current parties were involved (or at least I was told there weren’t others involved), I was contacted by someone  the team owed a lot of money to and asked if I would be interested in buying the team side by side with them.  I said yes.  Got information. Did some very preliminary homework and told the group I was interested. That fell through. They decided not to go forward.

Then I was contacted by the departing owner of the Rangers and asked if I would be interested in investing in the team . I said no, but to get in  touch if there was the opportunity to buy the team.  Not long after that, I was contacted and started the process of discussing a purchase of the team.  We had a few meetings and quite a few options were discussed. Most of the options required that I also purchase and take on expenses and assets/liabilities that I believed  were not core to the operation of the team and could in fact make things more difficult. I was not willing to do that.

What I was willing to do was to  make a significant enough of an investment that would catch the team up on all of their debt and provide some working capital (it would require the creditors to make some adjustments, but early discussions suggested that it would not be a problem). I was willing to go forward if i got control of the team. I want to win Championships and in my mind there was hope of winning a World Series with the Rangers

At that point we also had some preliminary discussions with MLB who were on board because it would avoid what appeared in my and others opinion  to be inevitable, bankruptcy.  I thought I was on my way to buying the Rangers.  At that point we signed some paperwork so we could have further meetings. It was at this point I also spend 2mm dollars on bonds in the Rangers holding company in order to get access to information about the Rangers, and also the Stars (because they are my co-tenant at the AAC). Why get the information that way ?… Trust but verify. It gave me a way to confirm what i was being told.

Unfortunately,  in our further discussions, I was not able to get anywhere close to doing a deal that did not have those obligations I was not willing to take.  They were deal killers for me.

Fast forward to December, Chuck and Nolan get exclusive rights to negotiate for the team. Which IMHO was great.I knew Chuck from back in Pittsburgh and he was coming to Mavs games and schmoozing his way through Dallas in impressive fashion. Like I knew he would.   Then the next month there was the discussion of bankruptcy. Then in  May,  the team is put  into bankruptcy. Then June. .Then  Chuck and Nolan sign their deal. Then mid July, the Rangers go to auction.

Around  the 2nd week in July, I got asked by someone who was considering bidding in the auction if i wanted to partner with them.  I told them that i doubted it , but I would take a look.  From that first look, it appeared to me that all those obligations that I didn’t like were still in the deal. But I was soon informed that  because of the bankruptcy auction, they could be removed.  That got my attention.

In my opinion if those operational issues could be removed, there would be more operating cash flow for the team. That’s a good thing.  In addition, as everyone told me time and again,  the Rangers TV deal ran out in 4 years.  Combine that with the Mavs TV deal running out just a few years later and it could either form a foundation for a new sports network, or preferably cause Fox to pay an ungodly amount of money to keep the teams on FSN.  Fox had more to lose from a competitive sports network being formed, particularly in Texas,  than a new network had to gain from being created. So the leverage of owning both teams was enormous.

That was a financial win for both teams.  The ability to earn more money from TV revenues for both teams meant more money could be put on the field/court.  It was a unique situation.

But I still had not committed to bid on the Rangers, either on my own or with someone else.  I wanted to contact Chuck first. In my mind, the ability to move Chuck /Nolan and their investors to a new group would accomplish two important things, it would get them out from under the bad obligations and it would allow them to use the leverage of the Mavs to their benefit as well. Of course I realized there were going to be huge legal bills involved in trying to figure out how to make it all work, but that came with the territory. It was the next day i made the comment to a radio station that I was trying to help and act as a backstop.

I got in touch with Chuck and briefly described all this. He thanked me and said that he would check into it. He quickly got back to me and said he had to keep things as they were. Which I completely understood.

While I understood it, to me it was a lost opportunity.  The economics got too good once the external stuff and TV were considered.  So I started looking in parallel at doing a bid myself or working with the initial folks who contacted me.  Going forward at that time meant to me that there were 3 basic outcomes:

1. The GRE group refuses to remove those 3rd party costs and obligations. At which point I/we win the auction and  go to Chuck and Nolan and and their  investors ask them to join our group.  Now why would they join our group ?  I couldn’t see any way on this earth that Nolan Ryan would ever leave his players and team behind.  He loves this team too much.  He has been around the league long enough to know that owners come and go, but the commitment to the guys you go to war with comes first. So i truly wasn’t concerned about him not coming. Chuck may have been more difficult. It would have been my job to convince him.  There aren’t enough hours in the day for me to run both teams like i do the Mavs. Chuck had already proven he could do the job. I would have worked hard to convince him. For Chuck/Nolan and all their investors, without the garbage expenses, the team was in a much better place.

I realize a lot of “commentators”  were villian-izing me. Suggesting I was trying to break things up.  They were of the opinion that there was no way Chuck or Nolan would ever come on board. I obviously thought they were wrong. And I didnt care what they said.  What I have learned in 11 years in the sports business is that the dumbest guys in the room are always the media guys. Some do a decent job of reporting, most just spew opinions.  And those opinions change more often than they brush their teeth. So what the media was saying was of zero impact or influence on what i was going to do. Listening to the media only increases your odds of failing at whatever you are doing.  So I ignore them.

2.  The GRE group gives up those 3rd party costs and obligations and we have an auction . If they win, which is what happened, they no longer have those obligations and as best I can tell are now in a better financial position.  Their stated purchase price before the auction was $575mm.  It ended up being around $600mm. So for 5pct they got rid of the costs and obligations. If we win, we still try to bring on Chuck and Nolan as investors and operators and we change nothing. Absolutely nothing … On the baseball side. On the business side, we start marketing hard and leverage all the success of the Rangers and we work towards increasing our media revenues by playing off Fox against starting a new network.

3. Someone else comes in and blows away both GRE and me in the auction and its over. In this case, at least we both gave it a shot and someone just beat us.

I could live with any of the 3 options.

As it turns out , I wasn’t in a position to go after this myself. Why ? Two reasons. First, despite what people think, I don’t keep hundreds of millions of dollars in a checking account. I prefer that it earn money doing things for me.  It is not easy to get liquid to the point of $400mm dollars or more in just a few weeks.  And in those few short weeks, its not easy to go to the banks and get a loan for a baseball team. Lots of reasons.  Some I don’t like, but it’s not.  Second, I didn’t have enough time to do all the due diligence my folks needed to do.  You don’t read every contract and get people to run numbers and advise you on what all the implications of a bankruptcy auction are in a couple weeks. I was paying people to work round the clock. I was killing my General Counsel Robert Hart to the point of exhaustion. There wasn’t enough time.

So a meeting was set up with Jim Crane. I liked him. He had been working on the Rangers for several years. He had all the due diligence in place. His people had scoured the contracts , etc. He had smart people around him and he had his money ready to go as well. Plus he had a relationship with the existing creditors who were willing to loan us money in order to facilitate a competitive auction. Of course the creditors were very self serving. If lending us money helped us, it helped them potentially earn more money from the auction. Together we could put together a bid.  As it turns out we could afford a purchase price up to about $600mm dollars. (Right where we left the bidding last night/this morning.)

From then until the auction date it was really about looking for gotchas.  What were the things that could hurt our bid in the Auction.  Most were elements that applied dealing with the bankruptcy court and the auction process.  There was a ton of paperwork that had to be in by the day before the auction and we had to figure out what went on it.

Along the way of course things always get interesting.  Last friday one of the parties tried to stop the auction and do a side deal. We had to shut that down. Same thing on tuesday night.

Fastforward to this past Tues.  We turned in our  purchase agreement with all our numbers and all the documentation saying what we would pay  for, what we wanted excluded (all those 3rd party costs) and the information required to qualify for the bid. Everyone got their copies that night.

The morning of the auction, Im up early. We get to the courthouse about 8am to meet. The first thing we have to do is meet with the debtors. The people who owed the money to the creditors. They are of course squeezing to include every penny they can and to exclude every type of liability. Then we have to fight over how to evaluate all that stuff.  That takes hours. It’s also why you heard GRE complain about not having our bid.  The people who owed all the money were fighting us to protect themselves. IMHO, to the negative of the people who were owed the money. We just wanted to be able to bid. GRE just wanted to know what our starting bid was.

We got to the courtroom and all the screaming and shouting started. There were enough blogs that tweeted and covered all that, im not going to.  It’s never fun watching how the sausage is made. And Im not a bankruptcy lawyer so I couldnt begin to explain all of it.

But some how the auction went on.  I have to honestly tell you there were more than a few times I thought we had the thing won. They were arguing about everything and anything to knock down our bid. I thought it was because they were out of it. As it turns out, they obviously were not. They beat us fair and square. As a result , I think they are in a better position than when they started the auction . But thats my opinion.

Now lets talk about MLB.  It seems to be a fun media sport to talk about how there is no way i will ever get approved  buy MLB to buy a team.  At the hearing yesterday it was mentioned that our group only had a 50/50 chance of ever being approved.  I tend to never look at the glass as being half empty or half full. I look to see who is pouring the water and to deal with them. Not the media.  I am pretty confident we would have been approved.

Finally lets talk about finances. Lets talk about the bonds I own. I have been getting a bunch of emails from reporters asking how much money I made on the bonds I own. Suggesting that I bid up the price of the Rangers in order to increase the value of the $2mm i spent on bonds. To all of you I offer a lesson in economics.

It is NEVER a good idea to risk hundreds of millions of dollars on the purchase of a team AND to spend what could come to more than a $1million in professional fees in order to increase the value of the $2mm you bought in bonds. I know its something for the media to talk about. But if any of you out there think it through, I dont want you to think i was stupid enough to do something that stupid.

94 thoughts on “Chasing the Rangers

  1. Mr. Cuban,

    Please make the Wilpons an offer they can’t refuse and buy the Mets.

    Thank you,

    Phil K.

    Comment by metman804 -

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  3. Mark, Please do all your fellow Pittsburgh people a favor and make a push to buy the Pirates.

    Comment by c21k06 -

  4. Mark,

    I’d love to see you become the next owner of the phoenix coyotes.

    As a fan of the game and a season ticket holder of the coyotes i see opportunity if the right person comes along. This franchise has had bad owner after bad owner and is due for someone who knows how to put a winning team on the ice.

    The future prospects of the coyotes are looking very bright and after last season where the team finished in the top 5 records in the entire league the talent of the team is getting better by the year.

    our goalie was in the running for the vezina trophy last year and that means he was in the top 3 goalies in the league. with the new coaching regime our defense was in the top 5. goaltending and defense win games and if you come in and add a little talent then we’d go far.

    The team comes with no debts after going thru bankruptcy proceedings.

    The city of glendale has pledged to cover up to 25 million of the losses and needs to keep the team here so you could work out a new lease that works for both parties.

    If you buy the coyotes i’d work for whatever you would pay me to make hockey work here in the valley. I have visions and ideas of how to grow the game here in the valley.

    The teams comes at about 1/3 the price that the rangers went for.

    I am also from pittsburgh and can relate this situation to how the penguins were growing up. The penguins have sold out their arena for years now and phoenix can do the same.

    Last year in the playoffs scalpers were having a field day on the street selling tickets…so there is demand if you put a winning on the ice. I believe that the fan base we have here would rally around you and would support you…

    if you buy my coyotes i will personally pledge to do whatever i can to make your investment pay off. if youre interested in talking further you could email me. and i hope to god youre the so called mystery bidder for the coyotes since youre my dream owner of a hockey team…haha i just hope it is my team.

    Mike

    Comment by mikewnaz -

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  6. Mark, A great letter and great explanation. Something for those of us in the non-business world to learn from. The complex nature of the purchase of a MLB team is quite amazing. With that said – please don’t give up on your dream to own a MLB team. As a former Dallas resident I still like the Rangers, but as a Los Angeles native, I love the Dodgers. Our team needs your help and needs it now. Please leave the negatives behind of the past attempt and move forward and guy our team. I can promise you rock star status here in LA – and if you think a Laker Championship is important, just watch what happens if the Dodgers ever win the WS again. This town bleeds Dodger Blue and we need you.
    Thanks for listening.

    Comment by kabcpab -

  7. Mark,
    I think the fact that you have been blocked from ownership is a travesty and discrimination. I write at Yankeesblog.com and I believe that recruiting men like you to own teams is necessary for the sport to survive.
    http://yankeesblog.com/opinion/dear-bud-selig-an-open-letter-3-on-how-to-fix-the-mlb/

    Comment by josephmartino -

  8. Mark,
    we have a tremendous IPO opportunity for http://MalibuHD.com
    the Entertainment Capital of the Internet. I have a Malibu
    executive who manages a $4B hedge fund and owns a global
    music company considering being CEO of MalibuHD for IPO.
    Please let me know if you’re interested in participation.
    Mr. Malibu speedy317@yahoo.com

    Comment by mrmalibu -

  9. Hey Mark,

    I just moved to Uptown Dallas and can’t even believe how cool the Magnolia theater is! I want to work for you! I am a writer who is so worth her weight in gold that you would never believe what you are not seeing because I am here in Uptown Dallas at my computer and am full of over priced rumple mints shots from the Social house, and the Lemon Bar is really cool but the Uptown pub is the bestest local scene, okay I am drunk…However I am from Newport Beach Ca and moved to Uptown and it is so cool…people are actually nice! I just want to say that this town could be so hopping…more than it already is…with just a little pr. I want to send you samples of my writing because I am that fucking good…!!!Really!!! I love this place…I love the Magnolia…saw Inception….will see eat pray love tomorrow…. God I want to work for you..I want to promote the fuck out of your theaters….I want you to see my work…go to Kyocera ceramic cutlery blog to see my latest work…I just love my last piece called eat.. pray..bake with cheese..It is what I have to work with…..OMG…I could do so many great things for you but it is truly a pity…alas you will never read this unsolicited comment…time to pass out!!! Sincerely a Magnolia Fan and the newest uptown resident…Miss Donna Steffy

    Comment by donnasteffy -

  10. I’d go after the Mets. Fans have lost confidence in the Wilpons who are bleeding dollars. Now is the right time to step in and buy a major market team.

    Comment by georgetseaver -

  11. Wow! All the above thoughts are smart and doesn’t require any further addition. It’s perfect thought from my side.
    ————————–
    One Law Center

    Comment by johnn09 -

  12. Mark: my congratulations on the work you did in trying to acquire the Rangers. I think you would have done a fantastic job. I’m so convinced of this, that I’m offering you an opportunity to own another franchise.
    No bankruptcy. No creditors. No blazing summer heat, or crappy video screens. Just 11 other owners who are serious about winning it all.
    Expenses are low ($40 franchise fee) and the potential payout is roughly 3.5x your initial investment. If you’re interested in fielding a franchise in the storied Benchwarmers Fantasy Football League, please let me know ASAP. Just like your buddy Bud Selig, I am both an owner AND the commissioner, and can assure that you’d be approved by my fellow league owners.
    Of course, you’d be the rookie owner, and with that comes the usual hazing routines. We’re not too hard on the rookies, because of course we might have to work a trade deal with them later on in the season. In fact, we might waive the usual hazing buffoonery if you’d be willing to host us at your place for the online draft party at the end of August.
    I know it’s a lot to absorb at a time when you’re still grieving the loss of the Rangers. But if you come around in time, and the competitive juices start flowing again, just let me know. We’ll leave a light on for ya.

    Comment by duagreen -

  13. Mark-
    Great job- sorry you didn’t get it- The A’s could use you, but it is in Ca. (Taxes)

    Comment by chillymango -

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    tjwimp.com

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  16. Hey Mr. Cuban. Please buy the Houston Astros. We need a ballsy owner that’s willing to spend. I think you would fit right in here in Houston !

    Comment by valorikx221 -

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  18. Mark,

    Just think of this experience as Howard Roark would in our favorite book (your the inspiration behind reading this in the first place) you will overcome and show MLB that MC will one day be known as the greatest baseball team owner.

    I am rather impressed with the amount of due diligence and analytical efforts you were able to put forth in the little amount of time you had to start the research. I am sorry that this is the first time I have had the pleasure to read your blog and one day when I follow a successful path that you have perhaps we can look into a team that makes economical sense to purchase (pirates eh).

    -Rich

    Comment by cooperspick -

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  20. Mark, I join the chorus of success-starved Pittsburgh Pirates fans in asking you to make an offer to the Nuttings for the Pirates. Major League Baseball owners and Commissioner Selig couldn’t do anything but embrace a proven winner like you taking the reins from an ownership group that has demonstrated an unwillingness to field a competitive team year after year, opting instead to pocket their luxury tax payments and stadium profits. In owning the Pirates, you would control one of baseball’s proudest and historic franchises, a team with multiple world championships and hall of fame members, a team with a proven (if temporarily dormant) fan base (see the Steelers and Penguins for any needed proof of fan potential), a team with the most beautiful ballpark in the major leagues, and the only team that hails from your hometown. Ride in on the white horse, Mark, and let’s start winning.

    Comment by mangantd -

  21. Very cool post. Thanks for the detail!

    Comment by stepawayfromthemall -

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    tjwimp.com

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  25. Simmons!

    Comment by Stefan Hynes -

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  27. Mr. Cuban,
    If you are still in the market for an MLB team, I believe the Astros are available here in Houston for the right price. I don’t know all the particulars of purchasing a pro sports team, I’m just a fan, but the Astros are in need of new leadership from the top down, and I imagine the fan base would welcome that kind of change (even Rockets fans).

    AK
    (Astros fan that would welcome Cuban’s ownership in Houston)

    Comment by optimusprime4 -

  28. If you take 3 things away from this post, it should be:

    1. “Trust but verify”

    2. “Listening to the media only increases your odds of failing at whatever you are doing. So I ignore them.”

    3. “never look at the glass as being half empty or half full. I look to see who is pouring the water and to deal with them.”

    Comment by nathanielpark -

  29. if you would like to come see a cool new sports blog come visit it

    tjwimp.com

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  30. Mark, you’ve brought some excitment to the NBA, turned the Mav’s around, and, for the most part, won over the Dallas fan base. With regards to fan base, you’ve just taken three giant steps backwards. Did you go brain dead?

    I read your spiel. I just don’t buy it. From my perspective, it appears that you have just grown too damn big for your britches… kinda like Tom Hicks did.

    You might be high tech savvy, have the money to surround yourself with legal and financial advisors, and possess a decent personality, but you can’t buy commonsense … and money doesn’t make you smart in all categories. You exposed this flaw when you chose to line up and challenge Nolan Ryan, the most popular sports figure in Texas. What were you thinking?

    Now, instead of holding you in relatively high esteem, I lump you in with people like Humpty-Dumpty Hicks, who showed us all how to blow money, run three sports franchises in the ground and be hated for it; and one Daniel Snyder, who owns one of the top grossing sports teams in the country, yet has no people skills, and through his own personal involvement in matters best left to others, manages to field a perennial loser every year.

    I don’t think I’m alone in my thinking. You screwed up.

    Comment by johnsonjt3 -

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  34. Mark,

    Thanks for that post. Very interesting hearing your thought process of this situation.

    Too bad you didn’t get the team. I know your personality would have forced the economic changes needed in baseball to allow smaller market teams a chance to compete with the $200m payroll teams.

    Mike

    Comment by mburkons -

  35. Seeing as this is Mark’s blog, why speculate when one can simply ask. Mark, assuming the proper circumstances, are you still actively interested in acquiring a MLB franchise in general? Specifically, would you rule out any of the teams suggested earlier: the Pirates, Mets, Indians, Dodgers, Astros, or A’s?

    Comment by jsmitchell -

  36. I love the insight and was even getting used to the idea of how good of a baseball owner you will really be for the Rangers, who are my favorite team. Obviously you are good decision maker because you were not heir to your fortune. I think you, without a salary cap, would spend well and wisely. I do suggest in the nicest way possible that you type your entries into a word processing program first and then copy and paste to here.

    Comment by MMeroney -

  37. Mark, congratulations for not winning the bid! I am impressed that you knew when to stop bidding. I made a bid for The Standard many years ago and did the same thing you did: stop at the right time. I ended up being the second highest bidder. Looking back, I’m glad I didn’t win the auction.

    In my opinion, baseball is a bad investment. The game is so old news. Football and basketball are preferable. You should look into investing into soccer in America. There should be another team in Dallas. For instance, in London they have Arsenal, Tottenham, Chelsea, Fulham, etc.

    Raising $600MM just to play is a huge achievement. Unless you have raised large sums of investment money, you can’t appreciate it.

    Comment by entrepreneurdex -

  38. go rangers

    a new sports blog tjwimp.com just started yesterday

    Comment by TJ WIMP -

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  40. If you accept the “105.3 the fan” invitation to the Richie and Greggo Show…blast Greggo he sounds like Galloway Jr. The one defending you is Richie.

    God Bless you Mr. Cuban.

    Comment by gioel007 -

  41. Galloway has no idea of what he is accusing you of or at least trying to make the sport fan think you were just trying to blow up the price for the good of the lenders, as if you have some investment with them.

    You and Ryan and Daniels would of been perfect. But we (fans) were on a win-win situation as either of both groups would of been good for the Texas Rangers.

    L.A. Dodgers say hi to your next owner. Cubs, Rangers how about L.A.

    Comment by gioel007 -

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  43. I have to say I never doubted for one second that you had anything but the best intentions in getting into the auction. I knew if you ended up with the team great things would happen. I hope you are still involved in some way with them. I would like to see the TV deal work. No matter the outcome of the auction the Rangers and Ranger fans would come out winners because the Tom Hicks would not have his tentacles all over the organization.

    My hope was you would buy the Rangers and move them to downtown Dallas and build them a new stadium with a retractable roof.

    Comment by promoathletes -

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  47. Mr. Cuban,
    I will try to make this as concise as possible. First, I am sorry that the Rangers deal did not happen for you and I was disappointed to see the Cubs deal get squashed as well – but there is a part of me that is feeling somewhat opportunistic from these happenings.

    I am from the Charlotte area and root for the Bobcats and the Hornets before them, but I have always enjoyed watching your Mavericks play and the intensity and desire you bring to the league as an owner. So it is with complete honesty that I am encouraged that you are still “in the market” for an MLB franchise.

    Please buy my Dodgers, please take over this once proud, storied and perennial winning franchise from the embarrassing state it is currently in. I’m embarrassed having to watch the team I followed as a child, sitting on my fathers lap (back when playoff games were on a Saturday afternoon) and bleeding Dodger blue. You may ask why would an East Coast kid with the Braves in his back yard root for a team across the country. My father grew up childhood friends with Tommy Lasorda and watching Dodgers baseball is one of the fondest father son memories I have.

    To read the LA Times and see more stories about the “owners” divorce proceedings than who we will get at the trade deadline is disheartening. I don’t expect you to buy an MLB team just for me, but if you’re “in the market” then do the entire league a favor and bring your drive and enthusiasm and commitment to LA and put a top shelf product on the field year in and year out as you’ve done with the Mavs. Do the current owners a favor and let them ride off into the Hollywood sunset in separate cars with the dust from the red clay in Chavez Ravine blowing behind them. (Besides, Dodger Blue is pretty close to Maverick Blue).

    Make ‘em an offer…you have my support.

    Sincerely,
    Jeff Vale

    Comment by red98jeff -

  48. Mark, please save the Dodgers. LA would love you.

    Comment by j3ss3g0 -

  49. Would love to see you running things for the Dodgers, it has been a while since the person running things cared about winning. Crossing my fingers and hoping that a Dodgers opportunity presents itself.

    Comment by The ChinWag -

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  51. Mr. Cuban,

    Thank you for such an insightful and candid look into the proceedings from your prospective. I have no idea why the media and some fans seem to be so polarized in their view of you. You are obviously very smart, reasoned and passionate about all that you do. I have been a lifelong Rangers fan (I’m almost 33) and Nolan Ryan is one of my heroes. For those reasons, I initially really wanted Nolan to emerge as the owner and today I am happy at least that there is a sense of finality and we can now move forward. That being said, I have a whole new respect for you and the class with which you have handled this entire chapter. I’ve always appreciated your passion for the Mavs and how well you promote your product but have not been more than a casual fan of the Mavericks. I can say today that you are my 2nd favorite owner in sports (behind Nolan – hey, boyhood idols don’t fall too easily).

    I really hope you can become an MLB owner in the near future as I believe your energy and passion would be great for the game. I’ve heard some compare you to Steinbrenner, but I don’t think that is very accurate or fair. I don’t think you really compare to anyone. You have a style, flair and passion for your team and fans that I don’t think I’ve seen before. I will be rooting hard for the Mavericks to win you a title; you deserve it for all you’ve done for that franchise.

    Sorry for the rediculously long ‘comment’, but after stumbling upon your blog for the 1st time tonight and reading your side of the auction story, I am profoundly impressed, espessially in your humility and grace in ‘defeat’. As a diehard Rangers fan, thank you for your support and best of luck to you! I look forward to hearing you on Rome someday soon – you are by far one of his best guests.

    Comment by arb9640 -

  52. Mark, as a fan of another baseball team who currently has questionable ownership and needs a big shot in the arm, I say…

    …go ahead and try for the Oakland A’s. Hell, if nothing else that way you’d get to go head-to-head against the Rangers a dozen and a half times a year. ;) I’d love to have you as my team’s owner.

    Comment by jesselcairns -

  53. Mr. Cuban, keep your head up. Fans appreciate you because you understand their emotional commitment. At the same time, many of these fans will never understand that generally sound business practices are led by our heads – not our hearts!

    Comment by stan4truth -

  54. Pingback: Cuban: I would have asked Ryan, Greenberg to join | How To Develop Your Self Confidence And Self Esteem

  55. Mark,

    This is was a fascinating read. Thank you for sharing.

    I would have been happy with either group winning, but the preference was more for GRE due to the more expedited process of the change.

    Now the fans of every other baseball team can go back to emailing you to buy the club they are passionate about and all the order in the world will be restored.

    Go Mavericks! Go Rangers! Go Money!

    Comment by nickwills -

  56. HI Mark,I am a former MLB announcer with 2 teams and one NBA team, you are so right on your comments regarding various/countless talking heads.I cant tell you how often in my over 30 years of sports coverage I have left a clubhouse/locker room shaking my head in amazement at the agenda of some/many of them. I met you briefly before a Mav’s game in Dallas a few years ago.I am based in Florida but travel to the Metroplex frequently as I am involved in my other interest (Completing by book on the JFK assassination). I am considering moving to Dallas and would like to speak with you via email regarding an opportunity…..thanks…ed

    Comment by bigedflorida -

  57. Hey Mark, First let me say I’m a huge sports fan and think you are great as an owner. This blog entry is what you cant find in an article or from espn. It was a great read. I love Nolan and the legacy he has left all of us. I appreciated the way you respected him. It made me respect you even more. God speed on getting you a team, I was secretly hoping for you to buy the cubbies…Go Mavs

    Comment by toddahughes -

  58. Mark,
    I was with you all the way man. I’m extremely sorry it didnt work out. You would have done great. All that said.. most of the day.. I had thought you had them.. maybe during that extra 4 hr break they secured more funding. I thought it was funny when they were comming back with +2 mill bids..

    Comment by mverinder -

  59. Mark –

    This was the frosted mini-wheat debate for me.

    Nolan is everybody’s hero… and thus the mature wheat side/fan favorite.

    You’re the frosted side…. will do anything to win/very entertaining.

    The ultimate combination would be you and Nolan. I remember when the Cubs thing went down and wished to no end that you would purchase the Rangers.

    I think you have a future in MLB and wish you the best in that endeavor. We all believe you could’ve/would’ve purchased the Rangers if you really wanted to. And all of us appreciate that you were so gracious and upbeat about the final outcome. I think a lot of folks became Mark Cuban fans in all of this.

    Comment by rangerscm -

  60. Mark,
    First thanks so much for what you have done for the Mavs.
    It is absolutely no coincidence that the minute you took over the team things started moving forward. You would have been a great owner of the Rangers, however I am very happy with the Greenburg/Ryan ownership also. On a different note however, is there any chance that you would possibly look at purchasing the Stars.That would give us great ownership in all 4 Major sports in Dallas.

    Comment by smoothup -

  61. Thanks for taking the time to write a great post.

    Comment by lars0721 -

  62. Pingback: The Texas Rangers auction

  63. Hey Mark,

    You know I’ve been pestering you for more than a week but I have such an idea that is vital to education and teaching. I’ve been in this business for more than twenty years and have seen the cell phone play a huge role in the student’s life, while causing a detrimental disruption in the classroom. Teachers are required to take phones each day, making it an absurd hassle.

    As I thought to myself, when school ended in May, what would allow us to make this problem go away or at least, lessen? The phone call to the parent is the obvious choice but the amount of time and disruption it causes in the classroom is absurd. After school calls are a pain, due to the amount of time it takes and parents being gone.

    I emailed a few of those invention type places and they lead you on, in hopes of gaining revenue before the invention actually fails. However, when you work for 20 years and just cross the 50k barrier, such dreams aren’t feasible. I know they want it to succeed but in reality, few do. I know my idea is solid and would play a huge role in how we deal with such problems. If you could contact me directly, just so I could run the idea by you in private, I would be honored. I’m not asking for money, I just want someone with the creative ingenuity you have, to develop and run with this. Trust me, it would be a blessing for all educators, no matter economic environment, student skill level or geographical location. Please give me a shot to rise above my teaching career and let me feel something different.

    Sincerely,

    Dr. Steve Spracale

    Comment by mrzonk -

  64. I really don’t understand the attraction of owning a professional sports team. Athletes (as a whole) are the most arrogant lot on the face of the earth….playing a sport for tens of millions of dollars. These highly paid [insert derogotory noun here] crying/whining about not getting a 10 yr 100 million deal and settling for 7/70. The poor fucker!! My heart goes out for him! Owners put up all the risk financially, players, nada. It’s not like teams are going to appreciate as they did from the 70’s – 00’s. So I ask you Mark, from a financial standpoint (and leaving the ego at the coat check), what makes it attractive to own a sports franchise?

    And I must correct myself: athletes are the 2nd most arrogant lot on the face of the earth….politicians hold the #1 position.

    Comment by therugelachman -

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  66. thanks mark, Galloway is an idiot

    Comment by guyswartz -

  67. Mark,

    Thanks for being honest and open about your side to this whole situation. In this day and age, it is hard to find someone who will actually discuss what really happened instead of putting spin on it.

    I did not want you to win the auction because I thought that GRE is a better fit. However, I did respect the fact that I think you are the best thing that has ever happened to the Mavericks and that if GRE didn’t win, you would be the next best thing.

    Comment by ngnichols -

  68. Mark: First of all, this post rocks. This is one of the only places where wage slaves like me can come to really get honest inside news and views from someone like you. It’s an honor (and a treat) to read this stuff. Now for some repeat grandstanding:
    You have a history in Pittsburgh and the Pirates have a richer history than the Rangers. If you could wrestle the Bucs away from Bob Nutting, your hero status will grow. Even Phillies fans feel sorry for me (being a Pirates fan). The suffering has to end and you’re the one to step in and take action. I know it might be annoying when people chime in and have ideas about spending your money—but the fact is, in all honesty, even Nutting must have a price. The Pirates are lacking more than a couple things—obviously, they are awful on the field. But as well, even when they were a playoff team, they didn’t sellout playoff games. The challenge isn’t only to build a winner, but to inject enthusiasm—something you did with the Mavs. The gratification for climbing this Mt. Everest would be something you’d always be most proud of!

    Comment by dcangelo -

  69. MArk
    I want to sincerely thank you for your post explaining things. I am so tired of the local and national “experts” spouting off about what their “sources” have told them that I could spit.
    It seemed logical to me that you would have a ceiling bid in mind and if things went beyond that you would bow out. The idiots who talk about you “bidding it up” undoubtedly have vast experience on EBay but not much in the real auction world. If you bid it up you surely have to be prepared for the other guy to quit.
    I believe the Ranger fans, team, and entire organization would have benefited from your ownership, but I also believe the Ryan Greenberg will provide great leadership as well.
    Thanks again, I really enjoyed the inside look.

    Comment by agman65 -

  70. Please Mark, buy the Houston Astros. They stripped the payroll, have a nice young product and stadium for you to build a champion and do it the Cuban way.

    Just sayin

    Comment by leesmither -

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  72. Mark, fear not, as there is another Amazin’ opportunity out there for you and for many baseball fans. It awaits you in Flushing, New York; a team in disarray and a fan base disillusioned by the inertness of the current ownership. I implore you to begin to inquire about the possibility of Mr. Wilpon and Mr. Katz selling this team. The fan base is strong and passionate and is looking for an owner that exudes these same traits. A new stadium awaits the possibility of a new owner that will re-energize the fan base. The New York Mets need an owner willing to build a championship team. The Amazin’ fans can’t continue to watch this clown car organization spinning around the New York area, going “beep beep” in every borough. Please help stop this madness and purchase the Mets!

    Comment by mrmetneedsresuscitation -

  73. Mark, r u for real? Take a bow. REally, you got it goin on and wish you would run my little oil company (ATPG). They need a guy like you.

    You got everybody comin and goin. How is it that u got everybody fooled all the dang time?

    also, your rec of ICEROCKET has improved my internet use in a way I didn’t think possible. Now I can keep an eye on my favorite band (Langhorne Slim) and others without too much effort.

    Thanks for sharing your thoughts with the cyber community.

    Comment by goodeggblogger -

  74. Thanks for the information, Mark, makes sense now. Too bad there were so many out to paint you as a villain. You woud have made a great Rangers owner, but selfishly I wanted you 100% focused on the Mavs.

    Comment by 1techsan -

  75. Pingback: Market Talk » Blog Archive » Links 8/5/2010

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  77. I can think of only one thing that might make the Rangers deal a killer for Mark Cuban. That is the involvment of Tom Hicks. This is speculation, but it was when the side deal that was reported to involve the land around the ballpark and the retention of Hicks was released, that the deal was no longer contested. If I’m wrong, then I’m sorry. If I’m right, thank you Mark.

    Comment by crocha1221 -

  78. No matter the outcome, the Rangers and their fans were going to win. The Greenberg/Ryan folks (and don’t forget a certain Mr. Jon Daniels) are doing a great job of getting the team to the playoffs. If Mr. Cuban had won the bid, they would have gotten a passionate, smart owner who’s willing to do whatever it takes to win. Tough choice?

    Comment by addude13 -

  79. wore my MAVS shirt today in honor of you sir. When yo do own a MLB team, i will be an instant fan. Thanks for all the details you didnt have to give us Mark.

    MFFL!

    Comment by nevener -

  80. The Wilpons are bleeding after the Madoff debacle, and, face “clawbacks” from the courts, forget about Pittsburgh or Cleveland or the “left” coast … step up to the Apple!!!

    Comment by mets2006 -

  81. Mark…why would you want to own a team in a league w/no salary cap and only a handful of teams realistically have a chance to win it each year?

    Comment by jlt1971 -

  82. “What I have learned in 11 years in the sports business is that the dumbest guys in the room are always the media guys”.

    Absolutely the best quote in sports in the past 50 years!!! Thanks Mark for sharing your thoughts and being so open!

    I played professionally for 8 years and always wanted to say it!

    Comment by wiltered -

  83. I tried…

    http://www.facebook.com/?ref=logo#!/pages/Let-Mark-Cuban-Buy-The-Texas-Rangers/101950373194222?ref=ts

    Comment by intheminors -

  84. It’s great to have a guy like you to pull back the curtain every once in a while. When you said the media guys are the “dumbest guys in the room”, did you mean they are the most ignorant of the goings-on, or did you mean that they are actually dumber than everyone else in the room? The latter seems impossible given some of the rooms in professional sports, but what do I know.

    Comment by molin1 -

  85. “It’s never fun watching how sausage is made.” Ah, but keeping an eye on Twitter during the auction yesterday was fun…or if not fun, at least interesting, even for an innocent bystander. Your “post-game analysis” (above) was also interesting.

    I’m truly sorry you didn’t succeed in your bid. Baseball needs you as an owner, to keep them honest and accountable if nothing else. But baseball also needs your passion for operating a winning sports franchise.

    Other commenters suggested the Indians and Pirates: I’ll join the bandwagon and suggest the Dodgers, as they may well be for sale soon.

    Comment by dodgrblu -

  86. Mark, any chance you get involved in trying to buy the Stars? I’ve felt throughout this whole ordeal that seemed like a better fit, what with somewhat more fixed expenses, and more involvement in the AAC.

    Comment by Patrick -

  87. PLEASE. BUY. THE. DODGERS. have you read about our owners finances?

    Comment by maxabrams -

  88. Mark, I tweeted a reply but have never received a reply from you there and I can only imagine why. I want you in LA bad enough to start a hash on twitter in support of it. If you would like to have Mark as the new owner of the Dodgers, tweet #thinkbluemarkcuban.

    I am so tired of the shenanigans of the McCourts

    Comment by ryantaylor16 -

  89. Also, speaking of economics and valuations, what – and you are in an unique position to answer this – are the main 2 or 3 drivers of value for a sports team? Does it all revolve around ticket revenue, team wins, TV viewership? I would just be interested in more detail on how your team arrived at the $600MM figure and what assumptions that was based on.

    Comment by bigtex79 -

  90. Mark – I am very curious about what some of the non-core expenses and liabilities were that you considered deal killers? Was this about the land/parking lots we kept hearing about?

    Comment by bigtex79 -

  91. Wow, is this a Mea culpa lite Mark? Impressive!

    Comment by worldbfree4me -

  92. I still think your hometown team (Pirates) needs your energy and passion for winning!!

    Comment by bobbrownpgh -

  93. Can you please buy the Redskins and put us out of our misery….Also the O’s need a new owner badly….

    Comment by mofares -

  94. There’s a better baseball opportunity out there — the Cleveland Indians. No bankruptcy, just total nincompoops owning and running things. Fan base delivered 455 consecutive sellouts when the team was competitive.

    Comment by Ken Carpenter -

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