Rangers File Bankruptcy

The Texas Rangers are for sale. They filed Chapter 11 Bankruptcy today. They did this so that the sale would appear more appealing. Only in America! The idea that a Major League Baseball Franchise should need to go bankrupt is a "head scratcher" for me. Of course, things have changed. For example, the Rangers owe $24.9 Million to Alex Rodriguez for deferred compensation. They also owe big money to other players.

The team is being sold to an investor group led by Pittsburgh attorney Chuck Greenberg and by Hall Of Fame Pitcher Nolan Ryan. Price tag is (if you have to ask, you can't afford it) $575 Million. Lotta money for a business that's losing money and has just gone banko...