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.

The Indians, avoiding salary arbitration, sign Rafael Betancourt (5-1, 1.47) to a $5.4 million, two-year deal. The 32 year-old right-handed reliever was used primarily last season as an eighth-inning set-up man for Cleveland’s closer, Joe Borowski.

Troy Tulowitzki (.291, 24, 99 ) and the Rockies agree on a $31 million, six-year deal which includes a club option for 2014. The second baseman of the National League champs was runner-up for Rookie of the Year award, narrowly outpointed (128-126) for the BBWAA honor by Milwaukee’s Ryan Braun.

Reds general manager Dan O’Brien is surprised when he is fired with spring training schedule to begin in the next few weeks. Cincinnati’s new owner Bob Castellini makes it clear performance is not the reason for the team’s former GM’s dismissal, but wanted to place his ‘own person’ in the position.

1992 – A group calling itself The Baseball Club of Seattle announces that it will attempt to buy the Mariners for $100 million. Some $75 million of the money will come from Hiroshi Yamauchi, president of Nintendo Co., Ltd., of Osaka, Japan.