The creditors say no again to the Rangers deal.

To review, under terms of the initial deal, the creditors were to get $230 million in cash. They want $300 million and have at least claimed that they’d throw the team into bankruptcy court in order to get it. Now, to be fair, the odds of actually collecting that amount in bankruptcy court are rather small, and that’s before you even figure in the legal fees and hassle. But that’s the posture anyway, and each time Greenberg has attempted to get the deal done, they’ve said no dice.

I don’t know if there is a deadline for this deal to get done, but there is no reason for the creditors to settle before that deadline comes. They’ve already moved the Greenberg group closer to the $300 million figure. The longer they wait, the closer they’re likely to get to that number.