The Rangers suffered another setback in their attempt to expedite their sale and allow new owners the opportunity to add players via trade prior to MLB’s July 31 non-waivers trade deadline, as their bankruptcy court judge added to his Tuesday ruling Thursday by requiring mediation a week after he initially promised a ruling.
U.S. Bankruptcy Judge D. Michael Lynn ruled that both sides will meet July 16 to hammer out issues over the Rangers’ bankruptcy plan to pay creditors $75 million and sell the club to a group led by Nolan Ryan, the Hall of Fame pitcher and team president, and Pittsburgh attorney Chuck Greenberg.
Lynn delayed until July 22 a hearing on whether to approve the plan. That hearing, initially set for two weeks earlier, is much closer to the July 31 nonwaiver trading deadline.