In the early hours of the morning, the group led by Nolan Ryan and Chuck Greenberg is confirmed as the winning bidder in the court-ordered auction of the Texas Rangers, part of the bankruptcy proceedings for owner Tom Hicks’s sports properties group. The winning bid, valued at $385 million in cash, beats one from Mark Cuban, owner of the Dallas Mavericks of the National Basketball Association; its total value reaches $593 million when the portion of Hicks’s debts assumed by the new owners is taken into account.
In the early hours of the morning, the group led by Nolan Ryan and Chuck Greenberg is confirmed as the winning bidder in the court-ordered auction of the Texas Rangers, part of the bankruptcy proceedings for owner Tom Hicks’s sports properties group. The winning bid, valued at $385 million in cash, beats one from Mark Cuban, owner of the Dallas Mavericks of the National Basketball Association; its total value reaches $593 million when the portion of Hicks’s debts assumed by the new owners is taken into account.