Chuck Greenberg, a partner at Pepper Hamilton whose practice has focused on sports related transactions, will become the new managing partner and CEO of the Texas Rangers once MLB approves the transaction. Greenberg, who already owns three minor league teams, leads a team of investors that agreed to buy the team along with associated properties for over $500 million. The exact terms of the deal aren’t being disclosed until the league has a chance to weigh in on the deal, but Greenberg has every reason to be confident since he is represented in negotiations with the commissioners office by Foley & Lardner’s Mary Braza, the long time outside counsel for the league and commissioner Bud Selig.
One of the investors on Greenberg’s team is legendary Ranger’s pitcher and strike out king, Nolan Ryan. Ryan will continue in his current role as team president.