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PLAN APPROVED, TEXAS RANGERS EXIT CHAPTER 11 BANKRUPTCY PDF Print E-mail
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MLB Club Sales
Written by Maury Brown   
Thursday, 05 August 2010 12:34

Texas Rangers

THIS IS BREAKING NEWS...

A confirmation hearing to accept an amended "pre-packaged plan" to exit the Texas Rangers from voluntary Chapter 11 bankruptcy, has been approved by secured and unsecured lenders, and other interested parties in the case (see Texas Rangers Confirmation Hearing Reveals Details from Auction for details). The hearing caps an intense auction on Weds. that spilled into the early hours on Thurs. where the group led by Chuck Greenberg and Nolan Ryan won out over Mark Cuban and Jim Crane. Nolan Ryan has called a 3pm press conference at the Ballpark in Arlington.

Major League Baseball's owners will conviene for a meeting on Aug. 12 where the league has said a vote for ownership transfer to the group will be approved. If so, new owners will be in place on Aug 13 when the Rangers play the Red Sox in Texas.

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Maury BrownMaury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey, as well as a contributor to FanGraphs and Forbes SportsMoney. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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