Rangers Auction Set, Cuban Closer to Bid
Creditors ask for more time
ARLINGTON, TX - MAY 11: Catcher Landon Powell #35 of the Oakland Athletics makes the out against Andres Blanco #3 of the Texas Rangers in the 12th inning on May 11, 2010 at Rangers Ballpark in Arlington, Texas. (Photo by Ronald Martinez/Getty Images) *** Local Caption *** Landon Powell;Andres Blanco
A bankruptcy judge ruled the August 4 auction of the Texas Rangers won't be delayed, and Dallas Mavericks owner Mark Cuban may be among the bidders.
Angry creditors argued Thursday that other interested buyers would not have time to secure financing and suggested a Sept. 30 auction.
The starting bid will be from the group led by Hall of Fame pitcher Nolan Ryan and sports attorney Chuck Greenberg. Major League Baseball endorsed the Ryan-Greenberg group after it was selected in the original bidding process last year, but the $575 million deal has been stalled by creditors.
Cuban's attorney said his client has been approved by MLB and hopes to submit a bid.
Published at 1:27 PM CDT on Jul 22, 2010
Copyright Associated Press