by Jon WeinbachFiled under: AL West, MLB Rumors, MLB Transactions, Sports Business and MediaAnother day, another surprise in the battle to buy the Texas Rangers.
The latest twist: The group led by Pittsburgh attorney Chuck Greenberg and Rangers president Nolan Ryan has now sweetened its bid to purchase the club, altering the terms of its offer to include more cash, according to William Snyder, who was appointed by a federal bankruptcy judge to resolve the long-running dispute over the Rangers' future ownership. The Greenberg-Ryan group originally reached an agreement in January to purchase the Rangers for $575 million, but it has been held up for months because the club's numerous creditors object to the terms of the deal.
The creditors, a diverse group that includes a Manhattan hedge fund, New York Yankees star Alex Rodriguez, and Texas state tax authorities, believe the sale process was rigged by Major League Baseball in order to steer the club toward Greenberg, who owns several minor-league baseball franchises, and Ryan, a Hall of Fame pitcher and Texas icon. Permalink | Email this | Linking Blogs | Commentscruiser bikes
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