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Nolan Ryan's group set to complete purchase of RangersBaseball Betting Lines05/24/2010 - Arlington, TX (Sportsbook Betting Lines) - The sale of the Texas Rangers to a group that includes current team president Nolan Ryan is expected to be completed by the middle of the summer. Ryan and Chuck Greenberg, a Pittsburgh attorney, announced a plan that will allow the sale to be achieved through a voluntary, "prepackaged," court- supervised process under Chapter 11 of the U.S. Bankruptcy Code. The proposal will fully pay the lenders of the current ownership group led by Tom Hicks. The sale price of approximately $575 million includes the team, the lease of the Rangers Ballpark in Arlington and a separate sale of land around the stadium. "Since 1998, our family has taken great pride and joy in our association with the Rangers," said Hicks, who will be Chairman Emeritus of the Rangers. "We are proud to play an active role in resolving the deadlock in this complex sale process. Rangers fans deserve management's full focus on baseball operations, and Nolan, Chuck and their colleagues will be outstanding stewards of the Rangers. We stand ready to support them in every way possible, and as huge fans we will continue to cheer the Rangers on to the ultimate goal of a World Series championship." The Rangers are currently 25-20 this season and sit atop the American League West standings. "Our goal is to move forward with our plan to create a long-term record of success and championships," said Ryan, who will continue to serve as Rangers president. "We will achieve that by being active in the player acquisition market as well as our ongoing commitment to develop players through one of the league's best farm systems." The sale is expected to have no impact on the team's baseball operations and the Hicks group will maintain control of the club until the process is completed. "This plan to complete the sale of the Texas Rangers serves the best interests of the team, its fans, MLB and all other parties involved," said Baseball commissioner Bud Selig. "This agreement assures an orderly process to expeditiously transfer Rangers ownership to the Greenberg-Ryan group, and it protects the franchise's baseball operations. Rangers fans can have confidence that their team has the resources it needs to compete. Clearly, this could not and would not have happened without Tom Hicks' leadership and hard work over a long period of time." The Rangers have been owned by Hicks since June of 1998. He was criticized for signing Alex Rodriguez to a whopping 10-year, $252 million contract prior to the 2001 season. A-Rod was traded to the New York Yankees three years later. On the field, the Rangers haven't made the playoffs since the 1999 season and have yet to win a postseason series in the team's history.
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Saints add McKie >>
Metairie, LA (Sportsbook Betting Lines) - The Super Bowl champion New Orleans Saints have signed fullback Jason McKie to a one-year contract. McKie spent the past seven seasons with the Chicago Bears, starting 46 of the 87 games he played with t
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