Chapter 11 watch.

For everyone who picked the Dallas Mavericks in the “next to file for Chapter 11” pool, you were…half right.

Texas Rangers Baseball Partners filed for bankruptcy Monday in hopes that it will pave the way for the sale of the team to the investment group led by Chuck Greenberg and team president Nolan Ryan.

You may be asking yourself, “Gee, I wonder who the Texas Rangers owe money to?”

The 21-page filing in U.S. Bankruptcy Court in Fort Worth, included a list of unsecured creditors headed by Alex Rodriguez, who’s owed $24.9 million in deferred compensation six years since he was traded away from the team.

Other players on the list include Kevin Millwood ($12.9 million), Michael Young ($3.9 million) and Vicente Padilla ($1.7 million).

(Hattip: Lawrence.)

This entry was posted on Monday, May 24th, 2010 at 3:54 pm and is filed under Clippings, Loser. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Chapter 11 watch.”

  1. Von Ryan’s Rangers. « Whipped Cream Difficulties says:
    July 12, 2010 at 12:59 pm

    […] previously noted that the Texas Rangers had filed for Chapter 11 bankruptcy, apparently as part of a plan to grease the rails for sale of the team to a group led by former […]

  2. One Ryan, one Rangers. « Whipped Cream Difficulties says:
    August 5, 2010 at 7:34 am

    […] have previously covered the strange events surrounding the sale of the Texas Rangers. Now, things appear to be at […]