New York Yankees slugger Alex Rodriguez, who is rapidly closing in on hitting his 600th home run, appears to have one eye on on some other numbers, as he has filed a formal objection in the pending Texas Rangers bankruptcy case.
The Rangers still owe A-Rod almost $25M in deferred compensation for the years he played for Texas; he accepted the deferment as part of the deal that cleared the way for his trade to New York in 2003. But that makes him an unsecured creditor of the Rangers — not a good position to be in when a bankruptcy case has been filed.
Rodriguez appears to favor a deal that would sell the team at auction to a group led by another former Ranger, Nolan Ryan. Ryan’s proposal includes payment in full to all unsecured creditors, sure to bring a smile to A-Rod’s face.
But when bids on the Texas team are opened next month, there is no absolute guarantee that Ryan’s group will end up being top bidder. Another owner might not be so accommodating to unsecured creditors, which has prompted Rodriguez to get involved in the case to try to protect himself.
Stay tuned for more Rangers news next month, when we should know who the top bidder turns out to be.
By Doug Beaton