ARLINGTON, Texas — The Rangers filed for Chapter 11 bankruptcy protection Monday in hopes of spurring completion of the stalled $575 million sale of the team — and maybe clear the decks for the new owners to make pennant-chasing decisions this summer.
The filing comes four months after Tom Hicks announced an agreement to sell the team to a group led by Hall of Fame pitcher and team president Nolan Ryan and Pittsburgh attorney Chuck Greenberg.
Under the plan to be presented at a court hearing today, the Rangers would pay the $75 million of the club’s debt tied up in Hicks’ financially strapped ownership group. A 21-page filing in U.S. Bankruptcy Court in Fort Worth, Texas, included the top 30 unsecured creditors, a list headed by Alex Rodri- guez, who is owed $24.9 million in deferred compensation six years after he was traded. The next five are also current or former players: Kevin Millwood ($12.9 million), Michael Young ($3.9 million), Vicen- te Padilla ($1.7 million), Mickey Tettleton ($1.4 million) and Mark McLemore ($970,000).
Footnotes.
Nationals catcher Ivan Rodriguez was placed on the 15-day disabled list, retroactive to Sunday, with a lower back strain.
• Red Sox center fielder Mike Cameron, out since April 19 because of a lower abdominal strain, will be reinstated from the 15-day disabled list today, and former Cherry Creek High athlete Darnell McDonald will be designated for assignment.
• Cardinals pitcher Kyle Lohse underwent an MRI exam of his right forearm that revealed inflammation but no structural damage. He will likely go on the 15-day DL.
• The Reds placed right-hander Homer Bailey (shoulder) on the DL and called up reliever Enerio Del Rosario from Triple-A Louisville.
• Mets pitcher John Maine has tendinitis in his right rotator cuff and there’s no timetable for his return.
The Associated Press
