August 5, 2010

New Rangers Owners

The group led by Chuck Greenberg and Nolan Ryan won the bidding for the Texas Rangers. The bid $385 million, $5 million less than the group led by Mark Cuban, but the winning group had all the money in hand.

It seems to me that the creditors got what they wanted. Numbers I saw from older reports indicated they were going to get $230 million and wanted $300 million. I assume that from the $385 million changing hands, the creditors should get their fair share.

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