Eventually the team was sold to Nolan Ryan (among others), which helps make the Rangers appearance in the fall classic all the more storybook (the Giants are a good story too, but not quite as dramatic).
The Rangers have become the ultimate cautionary tale for an era profligacy in sports that was personified by Rangers owner Thomas O. Hicks, who busted the salary structure and overspent wildly before busting his Hicks Sports Group and losing nearly $300 million of his own money in the process.It is also the first true test of sports' leagues ability to choose their owners, as Major League Baseball had been forced to cede control of the future of one of its franchises to a bankruptcy court.
Bush's tenure leading the Rangers was his first sustained role as a prominent public figure. He presided over the franchise's improvement--although the Rangers did not reach the postseason until he was no longer actively involved with the team--and persuaded taxpayers to finance a new stadium. He was so at home in the sport that he eventually pined to become its commissioner.However, there is some controversy there as well. Bush was accused of insider trading (but never charged) regarding the sale of the Texas Rangers:
In April 1989, Bush assembled a group of investors from his father's close friends, including fellow fraternity brother Roland W. Betts; the group bought an 86% share of the Rangers for $75 million. Bush received a 2% share by investing $606,302, of which $500,000 was a bank loan. Against the advice of his counsel, Bush repaid the loan by selling $848,000 worth of stock in Harken Energy. Harken reported significant financial losses within a year of this sale, triggering allegations of insider trading. On March 27, 1992, the Securities and Exchange Commission concluded that Bush had a "preexisting plan" to sell, that Bush had a "relatively limited role in Harken management", and that it had not seen evidence of insider trading.It's important to emphasize that there was no evidence proven of insider trading, just accusations. That said, upon the sale of the Texas Rangers, George Bush made out handsomely making $14.9 million on a $600,000 investment."