Ryan's group holds off a fierce challenge from a group led by billionaire Dallas Mavericks owner Mark Cuban.
View full sizeA group led by Texas Rangers President Nolan Ryan has won the bidding for the Texas Rangers.FORT WORTH, Texas -- Hall of Fame pitcher and Texas Rangers President Nolan Ryan has won the high-stakes bidding war for the team.
Officials in federal bankruptcy court in Fort Worth, Texas, announced early today that the group led by Ryan and Pittsburgh sports attorney Chuck Greenberg had made the best bid for the team. They staved off a fierce challenge from a group led by billionaire Dallas Mavericks owner Mark Cuban.
The news prompted cheers and a standing ovation in the courtroom 10 hours after the auction began.
The Greenberg-Ryan group's final offer included $385 million in cash.