Nolan Ryan’s Ownership Bid Gets a Brushback

Major League Baseball’s Texas Rangers, who filed for bankruptcy as part of their search for new ownership, are caught in a bit of a rundown.  MLB Commissioner Bud Selig has vocally supported one prospective group, led by Hall of Fame pitcher Nolan Ryan, stating, “Baseball has always had the right to select its ownership. There’s no doubt in my mind that we have the right to select ownership, and we will do that.”

This position taken by MLB has upset the creditors of the Rangers, who believe that the Ryan group does not have the most competitive bid for the team.  One of Selig’s lawyers threatened on a conference call that if the Rangers did not sell to the Ryan group, then MLB would take over the franchise–except in much more salty language.

Though the Rangers are only one of three remaining teams to never play in the World Series, the ownership issues are one Texas-sized fiasco for Major League Baseball, and bankruptcy attorneys all across the Lone Star State should take notice.