With the late night statement from Chuck Greenberg and Nolan Ryan last night (see the complete statement, here) regarding the negotiations for the sale of the Texas Rangers with current owner Tom Hicks, the sale agreement could be coming any day. The statement reads, in part:
We have made extraordinary progress the last couple of weeks and have come too far to walk away now. We are fully committed and prepared to work around the clock if that’s what it takes to reach a final agreement. We are at a point where deals get done as long as both parties share a desire to cross the finish line together. There just isn't much left to resolve.
It should be noted that there’s little doubting that the deal is near completion. Hicks, as well as the league would not allow such statement to be released unless the parties were exceptionally close.
Sources to The Biz of Baseball have said that the sides are working diligently all weekend to try and finalize the sales agreement.
Once the sales agreement were to be reached the final steps would be passing the muster of MLB’s Executive and Ownership Committees before needing approval from 75 percent of the league’s 30 owners to finalize the ownership transfer.
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