Creditors urge delay of Rangers auction
FORT WORTH — Angry creditors urged a federal bankruptcy judge Tuesday to delay next month’s auction of the Texas Rangers, saying potential buyers need three to four months to secure financing — jeopardizing the sale to Major League Baseball’s preferred buyer.
The court-appointed restructuring officer and a lender testified that potential bidders have said securing financing would be difficult by the scheduled Aug. 4 auction.
Attorneys for the Rangers argued interested parties have had plenty of time to get financing in order and review documents, because some participated in bidding last year.
Salvatore Galatioto, presi-