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Eddie Chiles Sells Controlling Interest in Texas Rangers for $50 Million

July 07, 1986

Gaylord Broadcasting Co. will pay Eddie Chiles $50 million for his controlling interest in the Texas Rangers baseball team, the Fort Worth Star-Telegram reported Sunday.

The newspaper quoted sources as saying the money will be paid over a 10-year period, with Chiles getting $5 million up front and $375,000 a month for 10 years.

Chiles refused to disclose the sale price on Thursday, when he announced he was selling his two-thirds interest in the team.

Gaylord Broadcasting Co., headed by Edward Gaylord of Oklahoma City, owns KTVT, a Dallas station that televises Ranger games.

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