Winning Bidder for Rangers Needs Support From Baseball League
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The sale of Texas Rangers at auction may not be clinched by the highest bid, as the offer also must be approved by owners of at least 23 of the 30 Major League Baseball teams and Commissioner Bud Selig.
Those hurdles set the Rangers sale apart from the typical bankruptcy auction, where the highest offer wins, especially as the commissioner has said the “best interests” of the sport favor a buyer group that includes Hall of Fame pitcher Nolan Ryan, the team’s president.