AL Owners Reject Gaylord’s Attempt to Buy Out Rangers

American League owners have rejected Edward Gaylord’s attempt to purchase majority interest in the Texas Rangers.

Gaylord, of Oklahoma City, owns about one-third of the Rangers’ stock and wants to buy an additional 58%. Baseball owners reportedly have opposed Gaylord’s bid because they do not want another team owned by a broadcasting company.

“I have been informed by the major league baseball ownership committee this afternoon that they have reached a recommendation that the transaction between myself and Mr. Gaylord not be approved in accordance with the guidelines for the transfer of controlling interest that were adopted by baseball in 1988,” Texas owner Eddie Chiles said Tuesday.

Gaylord was out of town today and unavailable for comment, his office said. Jerry Reinsdorf, chairman of baseball’s joint ownership committee, today confirmed the rejection.

A number of other investors, including former Rangers executive Larry Schmittou, have expressed interest in buying the franchise. A son of President Bush also has expressed interest.

The change in ownership needed 11 votes in the American League and seven votes in the National League.

Gaylord is president of Oklahoma Publishing Co., the parent company for Gaylord Broadcasting Co., and some owners have been concerned about Gaylord’s broadcasting interests, which includes Ft. Worth’s KTVT-TV, the station that televises Rangers games.