Thursday, March 15, 2012

Bidding war starts in Texas Rangers auction

Billionaire Dallas Mavericks owner Mark Cuban and a group led by Hall of Fame pitcher Nolan Ryan were locked in a fierce bidding war for the Texas Rangers early Thursday, with each side adding millions to the pot in a rare and contentious bankruptcy court auction.

Just before midnight, the group led by team president Ryan and sports attorney Chuck Greenberg made a bid of $365 million in cash _ a portion of its total bid _ and dropped provisions worth $12 million.

Cuban's group countered with a $390 million cash offer, part of a $598 million bid and that's where things stood as the hearing stretched into Thursday, with no end in sight.

The …

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