Rangers say creditors not hurt by team's sale - KTRE.com | Lufkin and Nacogdoches, Texas

Rangers say creditors not hurt by team's sale

FORT WORTH, Texas (AP) - A Texas Rangers attorney is asking a bankruptcy judge to accept the club's plan to pay creditors $75 million and sell the baseball team.

Attorney Martin Sosland says the deal would not hurt any lenders.  Team owner Tom Hicks has announced an agreement to sell the team for $575 million to a group led by Hall of Fame pitcher and team president Nolan Ryan and Pittsburgh attorney Chuck Greenberg.

The deal has been stalled by concerns by creditors, who say the bid was not the highest.  U.S. Bankruptcy Judge D. Michael Lynn said Tuesday that he tended to agree with the Rangers' argument. Attorneys for the creditors were to present their arguments later Tuesday afternoon.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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