Rangers seek bankruptcy protection to help finalize sale

ARLINGTON, Texas (AP) -- The Texas 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 bankruptcy 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.
"I did not want to put the baseball future of the Texas Rangers in jeopardy or uncertainty for an extended period of time," Hicks said. "This action is all about creating an end to the impasse in allowing this team sale to go forward."...Read More