The Texas Rangers plan to hold an auction next week for the team’s sale in hopes of getting the bankruptcy plan approved, according to a court motion filed Monday.
The team, which had a pending sale to a group led by Pittsburgh attorney Chuck Greenberg and Hall of Fame pitcher and team president Nolan Ryan, set a July 16 auction for bidders who meet certain Major League Baseball requirements.
Selling the team to the Greenberg-Ryan group and paying creditors $75 million was part of the Rangers’ bankruptcy plan when it filed for Chapter 11 protection in May, but creditors have opposed that plan.
“It became clear ... following discussions with the (court-appointed chief restructuring officer) that (he) would be more likely to support and vote to approve the prepackaged plan following an auction process,” Rangers attorneys said in the motion. “The (team) understands that a competitive bidding process is the preferred method of the lenders.”
Greenberg and Ryan said Monday that they believe their $575 million bid “is still superior and best serves the interests of the Rangers and their fans.”
UTLEY IN A HURRY
Chase Utley is trying to beat another timetable.
When the Philadelphia Phillies star had surgery last week to repair a torn ligament in his right thumb, the team said he will miss at least eight weeks.
But Utley is optimistic he won’t need that long.
“I’d like to be playing baseball in six weeks-ish,” Utley said Monday.
Andy Pettitte will join the AL All-Star team, replacing injured Red Sox pitcher Clay Buchholz, who went on the 15-day disabled list Monday because of a strained left hamstring. Pettitte, 38, is 10-2 with a 2.82 ERA over 16 starts this season. …The New York Mets, who placed Fernando Tatis on the disabled list with a sprained right shoulder, still expect star outfielder Carlos Beltran to return after the All-Star break, while shortstop Jose Reyes plans to be back in the lineup today after missing nearly a week with a sore back. Beltran has been out all season after having right knee surgery in January. He’s been making steady progress on a rehab assignment with Class-A St. Lucie, where he went 2-for-4 and played a full nine innings Monday in center fielder.