When the Greenberg/Ryan group bought the Rangers, they paid $350M +/- for the team but had to pay another $200M in "unsecured debt". This was money Hicks had borrowed against the Rangers but had nothing to do with the baseball organization. It appears the Wilpons have doubled Hicks' screw up.
it's entirely possible that when the Madoff trustee is done with them, JP Morgan will just foreclose on the team (I would if they would try to change the naming rights?)
