Mark Cuban has lost another battle to own a major league baseball team. The Dallas Mavericks owner was bidding at auction for the bankrupt Texas Rangers against a group led by baseball legend, Hall of Famer and Rangers president Nolan Ryan.

In a 1am decision yesterday, the court approved the bid offered by Ryan’s group, which beat out an offer worth nearly $600 million by Cuban’s group. The auction finally ended about 1am, around 10 hours after it had begun, when Cuban’s group did not try to counter Ryan’s $593 million offer, which included $385 million in cash.

On August 2 it was reported that Cuban was pushing MLB saying that if he won the team at auction, the approval vote by MLB’s 30 owners should be expedited and taken no later than August 16 and that closing on the transaction must take place before that date, though there was no reason given for the August 16 date.

This is Cuban’s second failed attempt to own a major league ball team. Two years ago, he waged a campaign to buy the Chicago Cubs, but eventually pulled out after the SEC filed charges of insider trading.

Prior to those charges, Cuban had made trips to Wrigley Field, sitting in the bleachers with the fans, trying to garner their support for his bid. The bid went to the Ricketts group, headed by Tom Ricketts who officially announced themselves as the new Cubs’ owners in a late October press conference last year.

In both cases, MLB and the Commissioner’s office had made it clear who their choices were for owners of both teams. For the Cubs, it was the Ricketts. For the Rangers, it was the group headed by Nolan Ryan.

MLB has final approval of team sales and could have gone with the second-highest bid, but the auction ended when Cuban reached a predetermined cash amount.

According to the Ranger’s bankruptcy plan, creditors will receive about $75 million from the team. However, the judge has said lenders, who are reportedly owed approximately $525 million, can go after now former team owner Tom Hicks and his other companies.

This is a great move for the team and for baseball. Ryan knows the game and is adored and respected by fans and peers. Nolan is the complete opposite of Cuban who is flamboyant and outspoken, something MLB has shied away from. Ryan finished his career in Texas playing for the Rangers in 1993, his Cooperstown plaque is pictured above.

After the auction, Cuban showed good sportsmanship and tweeted on his Twitter account, “@mcuban Congrats chuck and nolan. Go Rangers !”

The Rangers are currently leading the American League West Division.

Used with permission of the author.

Miriam Romain is a Chicago-based sportswriter and national columnist covering the Chicago Cubs for Examiner.com. The Windy City native is also the Associate Editor for SBNation Chicago and has been published in the Maple Street Press Cubs annuals. In her free time, Romain is working on a book titled “Summers At Wrigley With My Dad.”

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