Report: Ryan in Texas Rangers' purchase

ARLINGTON, Texas, Dec. 16 (UPI) -- A group led by team president Nolan Ryan has purchased baseball's Texas Rangers, club owner Tom Hicks said in a statement.

Hicks, owner of the NHL's Dallas Stars and 50 percent owner of English soccer team Liverpool FC, said he will ask Major League Baseball to approve his decision to grant exclusive rights to negotiate the sale of the team to Ryan's group, which is led by Pittsburgh sports attorney Chuck Greenberg.

"Our family has chosen to negotiate with the group we believe will be best to protect and ensure the long-term positive future of this franchise," the statement said late Tuesday. "Nolan Ryan is the personification of the word trust. He and Chuck worked diligently and relentlessly to get to this point."

The Dallas Morning News reported the decision ensures that the Hall of Fame pitcher will retain his post as the club's president and will obtain an ownership stake in the Hicks Sports Group.