Barry Schlacter reports that major Rangers creditors are not happy with the date selected for a new Rangers auction.
Attorneys for private equity firms and banks owed $525 million from the Hicks Sports Group, the team’s owner, questioned the urgency of an early August date. They argued that the team is not only solvent but that no evidence has been presented to show Hall of Famer Nolan Ryan and Pittsburgh sports attorney Chuck Greenberg’s financing would expire on Aug. 12 as claimed.
The Greenberg-Ryan group has been designated the proposed bidder that sets the floor auction price.
The club auction is currently scheduled for August 4.