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Rangers auction set for Aug. 4

Discussion in 'Other Sports Forum' started by Topdawg13, Jul 14, 2010.

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Jul 14, 2010 #1

Topdawg13 New Member

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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, Major League Baseball will still be able to reject the highest bidder and approve the next highest bid -- something lenders opposed. But if that happens, the judge can determine if the league acted in good faith, according to the revised procedures.
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