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Texas Rangers Sale Approval Top Item of MLB Owners Meetings PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Wednesday, 11 August 2010 08:57

Texas Rangers

After months of legal wrangling, MLB is poised to approve the sale of the Texas Rangers. Today, the beginning of two days of quarterly meetings for MLB owners begins with the sale of the Rangers its chief topic. Last week, the preferred group of the league, led by Chuck Greenberg and Nolan Ryan won at auction over a group of Mark Cuban and Jim Crane for the right to purchase the club out of Chapter 11 bankruptcy. The total price was $593 million with a total cash amount of $385 million.

The vote is set to take place when the full slate of owners arrives in Minneapolis on Thursday. Ownership transfer requires three-quarters of the league’s 30 owners to vote for approval. The vote is expected to easily pass, most likely unanimously.

More news as it becomes available

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Maury BrownMaury 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.

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