Bloomberg Law
May 25, 2010, 11:49 PM

Texas Rangers Baseball Partners Files
Ch. 11; Plans Sale to Greenberg-Ryan Group

Major League Baseball’s Texas Rangers Baseball Partners filed for Chapter 11 protection May 24 in the U.S. Bankruptcy Court for the Northern District of Texas (In re Texas Rangers Baseball Partners).

Plans to Sell.

The Arlington, Texas-based professional sports franchise filed the pre-packaged Chapter 11 to facilitate a sale to Rangers Baseball Express, the local investor group led by team president Nolan Ryan and Chuck Greenberg. The sale was initially agreed to in January, but has been delayed due to “resistance by a group of creditors,” according to a letter by Nolan Ryan posted on the Texas Rangers’s ...

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