Mark Cuban combing Rangers' finances
ARLINGTON, Texas -- The attorney for Dallas Mavericks owner Mark Cuban said Tuesday afternoon that his client is still doing his due diligence on the Texas Rangers' finances and has not set a timetable to make a decision as to whether he's going to submit a bid to purchase the team by the court-scheduled Aug. 3 date.
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Clifton Jessup, Cuban's attorney, said there was no meeting of prospective bidders Tuesday and that Cuban has been working hard to collect as much information as possible to help him make a decision.
"Things are progressing just as they have been," Jessup said.
U.S. Bankruptcy Judge Michael Lynn has set Aug. 4 as the day for an auction for the Rangers, which are still in Chapter 11 bankruptcy. Bids are due by the evening of Aug. 3. Attorneys for the creditors tried to push the date back to Sept. 30 last week and then Aug. 9 this week, but the judge ruled that the auction will go on as planned on Aug. 4.
Other possible bidders for the club include Dallas businessman Jeff Beck and Houston businessman Jim Crane. It's also possible Cuban could partner with another potential bidder in an effort to buy the team.
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