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redsfandan
08-05-2010, 02:48 AM
Nolan Ryan group wins Rangers auction

FORT WORTH, Texas -- An investment group led by Hall of Fame pitcher and Texas Rangers president Nolan Ryan won a contentious and unusual auction for the team early Thursday, beating back a nearly $600 million offer from outspoken Dallas Mavericks owner Mark Cuban.

Officials in federal bankruptcy court announced the winning bid to cheers and a standing ovation in the courtroom, some 10 hours after the auction began.

The Greenberg-Ryan group had Major League Baseball's endorsement, and its final offer included $385 million in cash. The final hearing on the team's bankruptcy plan was scheduled for later Thursday.

"It was an emotional roller coaster," a smiling Ryan said between hugs with colleagues and well-wishers in the courthouse. "You go to court one day and it didn't go your way, but you go back another day and it would. It's a relief."

Final approval of the Rangers sale rests with MLB, which had the option of choosing the second-highest bid instead. But it didn't come to that. ...

http://sports.espn.go.com/dallas/mlb/news/story?id=5436579

camisadelgolf
08-11-2010, 03:37 AM
0 replies