Who owns the Texas Rangers? Ray Davis, explained

Ray C. Davis is the control person of the Texas Rangers, a position he has held since MLB approved him in 2013–2014. He runs the club alongside co-owner Bob R. Simpson through Rangers Baseball Express LLC, the holding company that took the team to a World Series title in November 2023. What sets this ownership apart is its roots in energy infrastructure and its refusal to surrender media control to MLB’s centralized streaming model.

🏟️ Ownership at a glance

Principal owner	Ray C. Davis
Controlling group	Rangers Baseball Express LLC
Current group since	2010
Purchase price	$593M
Latest valuation	$2.75B
Owner’s net worth	$3.8B
Value multiple	4.6× the purchase price

Who is Ray Davis

Davis built a $3.8 billion fortune over 40 years in oil and gas. He co-founded Energy Transfer Partners and Energy Transfer Equity, transforming a small intrastate pipeline company into one of the largest pipeline conglomerates in the United States before stepping back in 2007. He debuted on the Forbes 400 in 2008 with $1 billion and had grown to $1.9 billion by 2013. Simpson, his co-owner and co-president, made his wealth as co-founder of XTO Energy, which ExxonMobil acquired for $41 billion in 2010—capital that funded the Rangers purchase. Davis operates Avatar Investments LP, his Dallas-based investment firm, and remains a director at Energy Transfer companies. He is known for avoiding the spotlight; D Magazine called him «the hidden billionaire.»

Davis married Linda and has three children. He has kept a low public profile throughout his ownership, letting the team’s on-field performance and media operations speak instead. His first World Series championship came on November 1, 2023.

How they bought the team

Rangers Baseball Express acquired the club in a bankruptcy court auction in August 2010 for $593 million, outbidding a group led by Mark Cuban. The original ownership group included Chuck Greenberg as managing partner and Hall of Famer Nolan Ryan as public face and CEO, but Davis and Simpson provided the bulk of the capital. Greenberg departed in 2011, and Ryan resigned as CEO in 2013, at which point MLB approved Davis as the control person—a transition of authority, not a change of ownership.

Year	Buyer	Amount
2010	Rangers Baseball Express (Chuck Greenberg and Nolan Ryan at the helm; Ray Davis and Bob Simpson put up most of the money) at bankruptcy auction, August 2010	$593M
2013	Change of control person, with no money involved: MLB approves Ray Davis to replace Nolan Ryan following his resignation	—

What else they own

Davis controls Avatar Investments LP and maintains board seats at Energy Transfer, the pipeline giant he co-founded. Simpson’s wealth originated from XTO Energy before its $41 billion sale to ExxonMobil. The Rangers themselves own Rangers Sports Network, announced January 27, 2025, and operated by Rangers Sports Media & Entertainment, the club’s media division. This structure lets the ownership avoid MLB Local Media and retain full control of broadcast revenue and distribution strategy.

Where the games air

The Rangers broadcast games through their own Rangers Sports Network on cable and satellite carriers including Astound, Charter Spectrum, DirecTV, and Fubo, plus open-air syndication through Gray Media and Nexstar stations. In July 2026, mid-season, the club switched its direct-to-consumer streaming platform from Victory+ to BZZR, a change that triggered mass refund demands from fans who had already paid for the full season. Spanish-language radio airs on KZMP 1540 AM, serving one of MLB’s largest Mexican-American markets in Dallas–Fort Worth.

Facts worth knowing

The Rangers were purchased at a bankruptcy auction in court in August 2010 for $593 million, in a bid that left out Mark Cuban’s group.
The franchise money is pure oil and gas: Davis cofounded Energy Transfer and Simpson cofounded XTO Energy, sold to ExxonMobil for $41 billion.
Nolan Ryan, public face of the 2010 purchase, resigned in 2013 and it was precisely Davis who replaced him as control person before MLB.
In July 2026 the Rangers changed streaming platforms MID-SEASON, from Victory+ to BZZR, and fans who had already paid for the annual package came out demanding refunds.
It is one of the few clubs that in 2026 not only avoided MLB Local Media but is also the sole owner of its network.
Davis went from $1 billion in his Forbes 400 debut in 2008 to $3.8 billion in 2026; the team went from $593 million to $2.75 billion valuation.

Where they stand among the 30 owners

List	Rank
By franchise value	#12 de 30
By purchase price	#12 de 27
By owner’s net worth	#13 de 21
By years in charge	#21 de 30

Amounts are nominal and not adjusted for inflation: comparing a decades-old purchase price with today’s valuation overstates the real gain.

The Rangers rank 11th in franchise valuation at $2.75 billion, having grown 4.6 times their $593 million purchase price in 16 years. Davis and Simpson occupy the middle tier of MLB ownership by wealth and tenure, neither newcomers nor founding-era figures. Their refusal to join MLB’s centralized media apparatus and their mid-season streaming pivot in 2026 mark them as willing to absorb fan friction in pursuit of independent control. The team’s 2023 championship was built on Latino talent—Cuban Adolis García won the ALCS MVP—reflecting the region’s demographics and the club’s Dominican academy operations.