After months of legal wrangling, MLB is poised to approve the sale of the Texas Rangers. Today, the beginning of two days of quarterly meetings for MLB owners begins with the sale of the Rangers its chief topic. Last week, the preferred group of the league, led by Chuck Greenberg and Nolan Ryan won at auction over a group of Mark Cuban and Jim Crane for the right to purchase the club out of Chapter 11 bankruptcy. The total price was $593 million with a total cash amount of $385 million.
The vote is set to take place when the full slate of owners arrives in Minneapolis on Thursday. Ownership transfer requires three-quarters of the league’s 30 owners to vote for approval. The vote is expected to easily pass, most likely unanimously.
More news as it becomes available
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