UPDATE: Ryan-Greenberg group wins ownership of Rangers

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1:51 AM:  Just a quick update here.  As Anthony Andro of the Fort Worth Star-Telegram reported just moments ago, the group led by Nolan Ryan and Chuck Greenberg won the auction.  They out-lasted several massive over-bids by Mark Cuban and stepped up with a $385 million cash offer early Thursday morning.  Great stuff by Andro and Co.

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4:05 PM:  Daniel Kaplan of SBJ reports that the review of the initial bids in the Texas Rangers auction is finally over (they’ve been in court all day) and get this: Mark Cuban and Jim Crane have “the highest and best bid” by $25 million.

Per some complicated legal business this morning, the Greenberg-Ryan group will now get some time — maybe some hours, maybe until tomorrow — to come back and top that bid. And they have to do it by $2 million to stay in the game.

That is, if they don’t make up their own rules. Minutes after the bidding was announced, Greenberg and Ryan’s lawyers (a) asked for more time; and (b) said that they’d attempt to block Cuban and Crane’s bid from being accepted via appeal and maybe some other legal action.  So that’s nice.  There’s also the distinct possibility — again, per Greenberg’s lawyer — that Major League Baseball may take up to nine months to approve Cuban and Crane as owners, which they argue would practically lower the real value of Cuban and Crane’s bid.

There will obviously be tons of twists and turns in the next few hours, let alone the next few weeks, so this doesn’t mean that Cuban and Crane will wind up owning the team.  But it does mean that for them not to it will mean that either Greenberg and Ryan will (a) have to come up with a ton more money; or (b) convince Major League Baseball and/or a court of law that the most valuable offer for the Texas Rangers should not actually get the team.

Octavio Dotel, Luis Castillo arrested in drug, money laundering investigation

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Five years ago, Octavio Dotel retired following a 15-year career in which he pitched for a then-record 13 different teams. I’m not exactly sure what he’s been up to since then, but I know that today he got arrested, as did former Marlins, Twins and Mets second baseman Luis Castillo.

That’s the report from Héctor Gómez, and from the Dominican Today, each of whom report that the two ex-big leaguers were arrested today in connection with a longstanding money laundering and/or drug investigation focused on one César Peralta. also known as “César the Abuser.” So he sounds fun. Gómez characterizes it as a money laundering thing. Reporter Dionisio Soldevila characterizes it as “drug trafficking charges.” Such charges often go hand-in-hand, of course. I’m sure more details will be come out eventually. For now we have the report of their arrests. According to the Dominican Today, four cars belonging to Dotel were confiscated as well.

Dotel didn’t debut until he was 25, and for his first couple of years with the Mets and Astros he struggled to establish himself as a starter. He was switched full-time to the Houston bullpen at 27, however, and went on to make 724 relief appearances with a 3.32 ERA and a .207 opponents’ batting average while racking up 955 strikeouts in 760 innings. At the time of his retirement his career strikeout rate — 10.8 per nine innings — was the best in the history of baseball for right-handed pitchers with at least 900 innings, edging out Kerry Wood and Pedro Martinez.

Castillo also played 15 seasons, with a career line of .290/.368/.351. He was a three-time All Star and won three Gold Glove awards.