Major League Baseball’s Texas Rangers franchise, based in the Dallas-Fort Worth market, is up for auction in a bankruptcy proceeding that will kick off with a floor bid of $307M on Wednesday 8/4/10. Multimedia giant News Corporation is said to be among the organizations contemplating a bid.
Rupert Murdoch’s television/cable/newspaper empire previously had in interest in the Los Angeles Dodgers, running from 1998-2004.
The corporation already has television rights involving the Rangers, under its Fox Sports Southwest operation.
A group headed by NBA Dallas Maverick owner and former internet tycoon Mark Cuban, and another group headed by baseball Hall-of-Famer Nolan Ryan, are also said to be in the mix. Speculation is that the price could be bid up another $100M or more from the starting point.
According to reports, Fox is paying the Rangers $35M annually for broadcast rights, a number that could go higher with the team’s recent run of success on the field.