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Texas Rangers Sued By Prospective Buyers

The Texas Rangers have been slapped with a lawsuit accusing them of breaching an agreement with the team’s prospective buyers, a group led by Hall of Fame pitcher Nolan Ryan and Pittsburgh sports attorney Chuck Greenberg.
The suit filed Monday in the Rangers’ bankruptcy case accuses the court-appointed restructuring officer of trying to “hijack” the case by reopening the bidding process.
The suit says the Greenberg-Ryan group was chosen to buy the team after a lengthy and fair process last year. It says the group even raised its offer by $10 million after it was chosen as the winning bidder because the team was still negotiating with other interested buyers.
The group wants the bankruptcy judge to order the Rangers to sell the team to the Greenberg-Ryan group to comply with its purchase agreement.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

Comments

One Comment

  1. Finis says:

    I agree with Ryan/Greenburg group. The agreement was made and the sale should be final. There was a time when a handshake would close a deal. What has happened to our society?

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