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• Shareholding in baseball expected to raise nearly £350m
• Uncertain whether funds will be invested in Liverpool

Liverpool’s co-owner Tom Hicks has agreed to sell his majority shareholding in the Texas Rangers baseball team but doubts remain over whether the American will reinvest funds from the deal in the Merseyside club.

Hicks is expected to receive close to $500m (£350m) for the franchise, which he has owned through Hicks Sports Group since 1998, from a consortium headed by the Pittsburgh-based attorney Chuck Greenberg and the legendary former Rangers pitcher Nolan Ryan.

The deal must first be approved by Major League Baseball and creditors of Hicks Sports Group but is expected to be finalised by 5