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Rangers try bankruptcy to speed sale

ARLINGTON, Texas — The Rangers filed for Chapter 11 bankruptcy protection Monday in hopes of spurring completion of the $575 million sale of the team by midsummer to a group of investors that includes Hall of Fame pitcher Nolan Ryan.

Under the plan, the Rangers would fully pay the $75 million of the club's debt tied up in Tom Hicks' financially strapped ownership group. That would remove the team from the additional claims by creditors against Hicks Sports Group that have stalled the sale to the group led by 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."

A 21-page filing in U.S. Bankruptcy Court in Fort Worth included the top 30 unsecured creditors, a list headed by Alex Rodriguez, who is owed $24.9 million in deferred compensation six years after he was traded away from the team.

A court hearing is scheduled for today, though the process could take several more weeks to complete.

ASTROS: 2B Kaz Matsui, who was waived last week, has cleared waivers and is an unrestricted free agent. Matsui was batting .141 and hadn't had a hit in his past 20 at-bats.

CARDINALS: An MRI exam on RHP Kyle Lohse revealed inflammation but no structural damage in his right forearm. Lohse said he didn't expect to make his next scheduled start Friday against the Cubs.

CUBS: RHP Carlos Zambrano threw 73 pitches in a simulated game as he prepares to return to the rotation.

METS: RHP John Maine has tendinitis in his right rotator cuff, and there's no timetable for his return. Maine left his start Thursday against Washington after throwing five pitches and went on the disabled list Friday.

NATIONALS: C Ivan Rodriguez, a key to the team's surprising start, is going on the 15-day disabled list with a lower back strain. … Top prospect Stephen Strasburg allowed his first runs in his fourth Triple-A start, giving up two in five innings for Syracuse. The right-hander struck out five and walked none.

PHILLIES: C Brian Schneider, out since May 9 with a left Achilles' strain, was activated off the 15-day disabled list.

PIRATES: 1B Steve Pearce sprained his right ankle on a throw and left the game.

REDS: RHP Homer Bailey went on the 15-day disabled list despite having no structural damage in his sore pitching shoulder. Tests showed nothing more serious than inflammation. RH reliever Enerio Del Rosario was called up from Triple-A Louisville.

TIGERS: 1B Miguel Cabrera will miss the two-game series at Seattle that starts today to be with his wife for the birth of their second child.

WHITE SOX: Omar Vizquel tied Hall of Famer Luis Aparicio, his boyhood idol, for the second-most hits by a shortstop with No. 2,674.

Rangers try bankruptcy to speed sale 05/24/10 [Last modified: Monday, May 24, 2010 10:15pm]
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