Texas Rangers (Baseball Team) Bankruptcy Case

The Texas Rangers baseball team filed for bankruptcy in 2010 due to financial difficulties, primarily stemming from heavy debt from a previous ownership group. The team sought to restructure its finances while continuing to operate. The bankruptcy allowed for the sale of the Rangers to a new ownership group led by Nolan Ryan and other investors. This process was crucial for clearing debts and ensuring the team's future stability, ultimately leading to a successful sale that revitalized the franchise financially and allowed it to remain a competitive team in Major League Baseball.