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MLB approves Nolan Ryan

5/12/2011 - MLB Texas Rangers

NEW YORK -- Hall of Famer Nolan Ryan has been approved by Major League Baseball as the controlling owner of the Texas Rangers.

Chuck Greenberg and Ryan led the group that bought the team from Tom Hicks last August in a deal valued at $590 million. Greenberg became chief executive officer, then left March 11 and sold his ownership stake.

Ryan, the team president since February 2008, took over as CEO. Baseball owners voted Thursday to approve Ryan.