A consortium led by former Major League Baseball (MLB) pitcher Nolan Ryan and Pittsburgh, US-based attorney Chuck Greenberg has taken control of the Texas Rangers baseball team.

The Greenberg-Ryan group's bid of US$593m (£372.3m, €446.7m) was enough to fend off interest from a rival consortium, featuring Dallas Mavericks basketball team owner Mark Cuban and businessman Jim Crane. An auction was held at the US Bankruptcy Court, Fort Worth, to determine the Rangers' new owner after Hicks Sports Group encountered financial troubles earlier this year.

MLB is now expected to vote on the sale at the next meeting of owners on 12 August, with Greenberg and Ryan set to take control the following day when approved.