Nolan Ryan Wins Texas Rangers Bidding War
Nolan Ryan is set to take on a new role in the Texas Rangers organization aside from being the team’s president and former starting pitcher after he and business partner Chuck Greenberg won a long and tense bidding war for the MLB franchise on Thursday.
Ryan and Greenberg’s group was declared the winner over the partnership of Dallas Mavericks owner Mark Cuban and businessman Jim Crane in the bidding process that lasted about 10 hours. The Ryan-Greenberg group won the bidding held at a federal courtroom with a bid of $593 million. The winning bid included $385 million in cash.
Ryan and Greenberg had already been awarded the team after the 2009 season when the MLB gave them the green light to acquire the Rangers from former owner Tom Hicks. However, demand from Hicks’ creditors and a bankruptcy declaration in May necessitated the new bidding process.
Ryan expressed happiness that the team’s ownership is now settled. “You go to court one day and it didn’t go your way, but you go back another day and it would. It’s a relief,” he said.