MINNEAPOLIS — Major League Baseball owners have unanimously approved the sale of the Texas Rangers to an investment group led by Hall of Fame pitcher Nolan Ryan and sports attorney Chuck Greenberg.
The sale was formally approved Thursday at the MLB quarterly owners’ meetings in Minneapolis. The ratification marks the end of a months-long struggle that Ryan and Greenberg endured to take control of the club.
The group initially agreed to buy the team from Tom Hicks in January. But a messy bankruptcy case ensued and Ryan and Greenberg ultimately had to win a bidding war with Dallas Mavericks owner Mark Cuban to secure the franchise.
Ryan, the team president, and Greenberg beat out Cuban with a bid valued at $590 million.