This is breaking news...

The 30-day exclusive negotiating window between Hicks Sports Group and the Chuck Greenberg/Nolan Ryan group expired today on the sale of the Texas Rangers. While the parties had targeted the date to reach conclusion, the sales agreement was not reached.

The following joint statement was released by Chuck Greenberg and Nolan Ryan regarding their negotiations to purchase the Texas Rangers:

Tonight, as the exclusive negotiating period announced on December 15 by Hicks Sports Group (HSG) expires, we are on the verge of an agreement that would provide Tom Hicks the value he seeks and the Texas Rangers the resources to become champions. 

We have made extraordinary progress the last couple of weeks and have come too far to walk away now. We are fully committed and prepared to work around the clock if that’s what it takes to reach a final agreement. We are at a point where deals get done as long as both parties share a desire to cross the finish line together. There just isn't much left to resolve.

With the continued cooperation of Tom Hicks and HSG, we are certain an agreement can be finalized so we can immediately get to work on delivering the success this franchise and its fans deserve.

More news as it becomes available

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is available for hire or freelance. Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

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Comments (2)

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at last
written by jthorpe, January 16, 2010

As a long time rangers fan all i cans is it is bout time we have some owners who feel that championships are the measuere of a susscsesful baseball team, not the bottm line.

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Greenberg and Ryan will fail
written by bo knows baseball, January 23, 2010

The Greenberg deal will prove to be shakey at best, too many investors with too little money, Jim Crane will be the best fit for Hicks, and Ranger fans.

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