UDPATE: The group headed by Greenberg, under the moniker “Rangers Baseball Express,” has a deal in place to purchase the Rangers from Hicks. An official sale price was not announced, but a source told Richard Durrett of ESPN Dallas that the price tag was under $570 million, which covers the team, the lease at Rangers Ballpark in Arlington and approximately 153 acres of real estate around the park. Greenberg acknowledged the purchase in a statement:
“Nolan and I greatly appreciate Tom Hicks’ willingness to work beyond
the deadline to complete the deal and his support for passing the torch
from the Hicks family to our group. His actions speak eloquently to his commitment to serve the best
interests of Rangers fans and the community.“
The agreement won’t likely go into effect until March or Opening Day.
SATURDAY 1:41 pm: Tom Hicks, current owner of the Texas Rangers, is just about ready to hand the organization over to a new ownership group. Word comes from MLB.com’s T.R. Sullivan that a deal could be reached as soon as this afternoon.
Hicks also owns the Dallas Stars and has a fifty percent stake in the English Premier League’s Liverpool Football Club, but he’s fallen on hard times recently due to the ongoing economic crisis in this country.
The new ownership group is headed by Chuck Greenberg, a sports attorney from Pittsburgh, and current club president Nolan Ryan. The Rangers, under Hicks, won back-to-back American League West division championships in 1998 and 1999 and posted an 87-75 record last season. With guys like Ian Kinsler, Josh Hamilton, Michael Young, Neftali Feliz and Vladimir Guerrero in tow, they’re ready to compete for another division crown this year.