President George W. Bush was owner of what sports team?

Before he was a governor or president, George W. Bush was a key figure in the ownership of a Major League Baseball team. In 1989, he gathered a group of investors to purchase the Texas Rangers for approximately $89 million. While Bush himself only invested about $600,000, a fraction of the total price, he was named the managing general partner. This high-profile role made him the public face of the ownership group, and he became a familiar sight for fans, often seen in the front-row seats near the team's dugout.

During his time as managing general partner, Bush was instrumental in the development of a new stadium for the team, which is now named Choctaw Stadium. The construction was financed primarily by the public, a decision that increased the team's value significantly. This venture into sports ownership proved to be a very successful financial move for the future president.

Bush left his position with the Rangers after he was elected Governor of Texas in 1994. In 1998, just before his successful presidential campaign, the team was sold for $250 million. Due to the terms of his initial agreement, Bush’s relatively small investment yielded a substantial return of nearly $15 million. His formal connection with the team ended with this sale, concluding a notable chapter in his business career before he moved to the White House.