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Texas Rangers Baseball Team Files For Bankruptcy
The Texas Rangers, the Major League Baseball team controlled by billionaire Thomas Hicks, filed for bankruptcy today, May 24, 2010 after the planned sale of the team fell through.
The Arlington, Texas-based company listed assets and debt of between $100 million and $500 million debt Chapter 11 documents filed today in U.S. Bankruptcy Court in Fort Worth.
Alex Rodriguez was listed as the Rangers' top unsecured creditor.