Getting your player ready...
FORT WORTH, Texas — A federal bankruptcy judge decided Tuesday that the Texas Rangers will be auctioned despite angry creditors’ claims that the bidding process is unfair and still favors Major League Baseball’s preferred buyer.
U.S. Bankruptcy Judge D. Michael Lynn set the auction for Aug. 4 after changing some of the team’s proposed bidding procedures, citing a “need to bring order from chaos.” The final hearing on whether to approve the Rangers’ bankruptcy plan was set for later that day.
After the auction, MLB will be able to reject the highest bidder and approve the next highest bid — something lenders opposed.
