New concerns by creditors in Texas Rangers bankruptcy case could delay or halt sale

Creditors raise new concerns over Rangers’ sale

FORT WORTH, Texas — Angry creditors in the Texas Rangers bankruptcy case are raising two issues that could delay or even stop the team’s sale.

Creditors have filed a sealed motion, saying they object to the bidding procedures approved last week for the club’s auction, set for Aug. 4.

A separate lawsuit seeks to remove the Rangers Ballpark lease from the team’s sale.

JP Morgan Chase Bank says the team’s parent company, Hicks Sports Group, transferred the lease to the team just before the bankruptcy filing. The bank says it wasn’t given a chance to consent to the lease transfer, which is required in its loan agreement.

Experts not involved in the case say potential buyers would be hesitant to bid if the lease were not part of the sale.