Rangers say they prefer MLB financing plan during bankruptcy over lender’s plan

Rangers say they prefer MLB financing plan

FORT WORTH, Texas — A judge has ruled that Major League Baseball will provide funding to keep the Texas Rangers afloat during bankruptcy proceedings.

That action came Wednesday, two days after the bankruptcy filing, raising the possibility that the team’s stalled $575 million sale by owner Tom Hicks may happen this summer.

After the hearing, Hall of Fame pitcher and team president Nolan Ryan — who leads a group that’s the prospective buyer — said he was pleased with the court’s timetable. He said the Rangers want to participate in the non-waiver trading deadline July 31 and the amateur draft next month.