It’s (almost official): Pepper Hamilton partner Chuck Greenberg is about to take over as managing partner and CEO of the Texas Rangers after leading a group of buyers who have struck an agreement to buy the team for just north of $500 million, according to lawyers on the deal and this nice roundup in the Fort Worth Star-Telegram. Legendary Rangers pitcher Nolan Ryan, baseball’s all-time strikeout king, is part of Greenberg’s ownership group and will retain his role as a key voice on team personnel matters.
It’s unclear if Greenberg will leave Pepper completely. As we’ve previously reported, Greenberg in the past has balanced his work at the firm (which has focused on sports-related transactions) with his role as part owner of three minor league baseball teams. But taking over as the CEO in charge of a $500 million enterprise is an entirely different matter, we’d imagine. Greenberg did not immediately return messages seeking comment on the deal, which will not be completed until sometime in April–or later–as it requires the approval of Major League Baseball and three-quarters of MLB’s team owners.
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