Liverpool co-owner Tom Hicks has agreed a deal to sell his baseball team, the Texas Rangers.
Liverpool co-owner parts company with MLB outfit
Liverpool co-owner Tom Hicks has agreed a deal to sell his baseball team, the Texas Rangers.
Hicks has an agreement in place to sell the team to a group headed by Pittsburgh attorney Chuck Greenberg and Rangers pitching legend Nolan Ryan for a price that could exceed $500 million (£310million).
Following lengthy discussions, an accord was struck late on Saturday night in Texas, and came 24 hours after an exclusive negotiating window had expired.
"Together, we have worked exhaustively since last month to attain this agreement," Hicks said in a statement.
Complex
"It's a complex business deal that positions the franchise positively for the future."
The deal must still be approved by Major League Baseball and the banks that hold the debt on the Hicks Sports Group, and may not be finalised until April.
Any Reds fans hoping for the proceeds of the deal to be invested in the struggling Anfield outfit may be disappointed.
Late last year, Hicks' fellow Liverpool owner George Gillett sold the Montreal Canadiens ice hockey team for a reported 550 million Canadian dollars (£323million), but has not invested that money in the Premier League club.
