Deal reached for sale of Texas Rangers

There is joy in Arlingtonville tonight.

  Tom Hicks has agreed to sell the Texas Rangers to a group that includes Hall of Fame pitcher Nolan Ryan.

The sides announced Saturday night that they had finally reached an agreement, eight days after a 30-day exclusive negotiating window expired. The group is headed by Pittsburgh sports attorney Chuck Greenberg.

“Together, we have worked exhaustively since last month to attain this agreement,” Hicks said in a statement. “It’s a complex business deal that positions the franchise positively for the future.”

I for one have been anxiously awaiting this good news. I hadn’t reported on it much for fear of jinxing the deal, but i can tell you now this is great news for the Ranger team and fans.

In a separate transaction, Ballpark Real Estate, L.P., an independent investment vehicle controlled by Hicks, will sell or transfer to the Greenberg-Ryan group approximately 153 of 195 acres around Rangers Ballpark and Cowboys Stadium that is owned or controlled by Hicks. In return, Hicks will receive cash, notes, and an ownership position in the team.

Deal reached for sale of Rangers to Greenberg-Ryan group (DMN)


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