Two veteran left-handed sluggers are signed today, Jason Giambi by the Colorado Rockies and Matt Stairs by the San Diego Padres. Both have become mainly pinch-hitters by this point of their careers.

The Orioles reach a one-year deal worth $6 million with former star shortstop Miguel Tejada. Tejada, who put up great numbers while playing for the Orioles from 2004 to 2007 before being traded to the Houston Astros, will move to third base.

A group headed by Hall of Fame pitcher Nolan Ryan and including a number of prominent business people from the Dallas, TX-Ft. Worth area purchases the Texas Rangers from Tom Hicks for a price rumored to exceed $500 million. Ryan will continue as team President, while attorney Chuck Greenberg will be managing partner and Chief Executive Officer. The corporation will be known as Rangers Baseball Express, in honor of Ryan’s famed fastball. Because of complications caused by Hicks’s bankruptcy proceedings, the deal will not be finalized for another six months.