Rangers Sale Hits Another Speed-Bump
The sale of the Rangers has hit yet another speed-bump and it's looking less-and-less likely the sale will close in time for the Major League Baseball trading deadline.
That July 31st deadline is looming and it's not looking good because now the July 16th proposed auction of the team has been scuttled. The Rangers are, of course, in bankruptcy court and everything they do has to be okayed by the judge or the trustee or the court-appointed restructuring officer who now says the July 16th auction won't happen. In fact, William Snyder will say is that bidding procedures would be worked out over "...the next few weeks."
Hall of famer Nolan Ryan and sports attorney Chuck Greenberg have offered more than a half-billion dollars for the team and theirs is the bid preferred by Major League Baseball. But the main creditors, owed millions of dollars, are holding out for a better offer from a Houston businessman. If the teams isn't sold by the trading deadline, there will likely be little money to hire a star starting pitcher for the pennant stretch drive.
