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Mark Cuban's Texas Rangers Bid Higher Than Nolan Ryan's On First Day Of Auction

The showdown for the right to purchase the Texas Rangers got underway Wednesday and the group headed by billionaire Dallas Mavericks owner Mark Cuban was more aggressive than The Greenberg-Ryan group, headed up by Nolan Ryan.

Court documents indicate the Greenberg-Ryan group’s starting offer was about $520 million, including more than $300 million in cash and more than $200 million of the team’s debt — including $24.9 million in deferred compensation owed to Alex Rodriguez six years after he was traded to the New York Yankees.

Rangers attorney Martin Sosland said the bid by Cuban’s group — which includes Houston businessman Jim Crane — was about $25 million more than the bid submitted by the Greenberg-Ryan group. Sosland did not reveal the total amount or what it included.

Later, Greenberg-Ryan offered $2 million more than Cuban’s group, which then upped the ante by $15 million — to about $335 million as the cash portion of the total offer.

Ultimately Major League Baseball can decide who they allow to buy the Rangers, even if it’s the second-highest bidder. Though if they do, they could face fines for rejecting the highest bidder without a credible reason.

This should get fun. Lone Star Ball will stay on top of the story as it develops.