Texas Rangers Auctioned at $385

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NEW YORK (GaeaTimes.com) — Texas Rangers were sold early Thursday morning for $385 million to a group led by Nolan Ryan, the team’s president, and Chuck Greenberg, a lawyer who owns two minor-league teams.
It was quite a scenic view as a team was put up for auction instead of a Picasso or so. The team wasn’t much glorified in recent times. The Rangers sale became inevitable when Hicks defaulted on $525 million in debt on his sports holding company in March 2009. The action left creditors unhappy, knowing that they might never recover all their losses. The sale represents a triumph for Major League Baseball, which has staunchly backed the Ryan-Greenberg partnership against Hicks’s lenders.