UPDATE #1 (11:10am CT): Rangers have requested more time to review bid. Now, auction likely to start at noon or later. There is a process going on to determine whether the Greenberg/Ryan group, or the Crane/Cuban group has the highest bid to start the auction process.
THIS IS AN UPDATE ON THE TEXAS RANGERS AUCTION
(10:00am CT) The auction for the Texas Rangers stalled straight out of the gate, the Greenberg/Ryan group challenged whether the bid offered up for auction by Jim Crane and Mark Cuban was "qualified". The interested parties were called into Judge Nelms' chambers, and now Nelms will make that determination. William Snyder, the chief restructuring officer (CRO) reviewed the bid, and has said that it is qualified. The auction is now set to begin at 11am CT.
Look for more news as it becomes available.
Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.
Follow Maury Brown on Twitter
Follow The Biz of Baseball on Twitter
Follow the Business of Sports Network on Facebook