Greenberg/Ryan Group takes steps to accelerate Texas Rangers' exit from Chapter 11
Greenberg/Ryan Group takes steps to accelerate Texas Rangers' exit from Chapter 11
All Funding for Purchase Raised and Available; Group Agrees to Market-Test Transaction a Second Time to Answer Lender Objections to Chapter 11 Exit
ARLINGTON, Texas - The investor group led by sports attorney Chuck Greenberg and Hall of Famer Nolan Ryan confirmed today that it has received into escrow the full amount needed for the equity portion of its purchase of the Texas Rangers and has executed definitive financing agreements for the debt portion of the deal. This extraordinary step puts the Greenberg/Ryan group in position to close the transaction promptly upon confirmation of the Rangers' Chapter 11 plan (which pays all of the team's creditors in full) and Major League Baseball's final approval of the agreement.
