Baseball Team's "Go For Broke" Strategy Backfires

The Texas Rangers have entered voluntary bankruptcy to prepare for the team’s sale to a group headed by former MLB pitcher Nolan Ryan. The Dallas Morning News has a peek at just who the Rangers are in arrears to, and as it turns out, the team’s top six creditors are players. No. 1 on the list is the ever-troubled Alex Rodriguez, who’s owed some $25 million in deferred compensation, while No. 5 is former Rangers catcher Mickey Tettleton, who hasn’t played since 1997; the team is in arrears to him for $1.4 million. (No. 3 is current Rangers third baseman Michael Young, who the team is in hock to for $3.9 million; he was apparently kind of alarmed when alerted to his presence on the list yesterday.) Hey, don’t worry, Rangers fans! This is the first step toward getting “right,” and you can take comfort in the fact that your ownership won’t be giving handouts to Bobby Bonilla every year until 2035.