Baseball, Rangers Big Winners in Auction

AP Photo

Major League Baseball was a big winner this week, when a group headed by attorney Chuck Greenberg and Hall of Fame pitcher Nolan Ryan won a bidding process, held in a U.S. bankruptcy court in Fort Worth, Texas, for the purchase of the Texas Rangers.

The Greenberg-Ryan group had earned support from Commissioner Bud Selig's office previously as prospective new owners of the Rangers, and it proceeded to outbid Mark Cuban and Jim Crane, prevailing in a big-as-Texas auction that went deep into the night. Tom Hicks, whose financial picture took more than its share of hits in the last couple of years, is now out as Rangers owner.

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