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Bud Selig has named Thomas Schieffer, the former president of the Texas Rangers and a retired U.S. diplomat, as the new trustee of the Los Angeles Dodgers.Selig announced last week that he would appoint the trustee to oversee the ballclub’s finances due to concerns of mismanagement by owner Frank McCourt.
All financial transactions will now be approved by Schieffer.
Schieffer was a minority partner in the ownership group led by George W. Bush, that purchased the Rangers back in 1996. (That was two owners ago.)
As president, he helped secure the funding for construction of The Ballpark at Arlington and succeeded Bush as General Partner after he left to become governor of Texas.
Later, after Bush became President — and the Rangers were sold to Tom Hicks for nearly three times what they paid — he appointed Schieffer to be the U.S. Ambassador to Australia.
In 2005, he was transferred to Japan where he remained until the end of Bush’s tenure in 2009.
Schieffer is the brother of CBS News anchor Bob Schieffer.
He’s also been rumoured as a possible successor to Selig, whenever he decides to retire as MLB Commissioner.