We’re finished! The Cuban-Crane group countered the $365 million bid from Greenberg-Ryan with a $390 million bid, but Greenberg-Ryan came back with a $385 million offer that had a higher present value because that offer could be closed in short order, while Cuban-Crane would require MLB approval, which could take several months. The response from Cuban-Crane?
Greenberg/Ryan Group Win Rangers Auction With $385 Million Bid
The two sides bickered and bid for the right to purchase the team from Wednesday morning until well past midnight in Texas, until the final bid from Greenberg, submitted at about 12:25 am. CT, was not answered. Houston businessman Jim Crane, who partnered with Cuban on his bid, shook Ryan’s hand and told the current Rangers president they were done bidding, ending a contentious and dramatic battle.
And so that’s the end of it. Or at least, that’s the end of the complicated bits of it. The sale of the Texas Rangers to the Greenberg-Ryan group should be completed within very little time, and a very deep, promising organization will find itself in strong, capable hands.
See More:
