MLB News: Federal Court Sets Date For Texas Rangers Auction

The auction will take place on August 4th.

U.S. Bankruptcy Judge D. Michael Lynn set the auction for Aug. 4 after changing some of the team’s proposed bidding procedures, citing a “need to bring order from chaos.”

After the auction, Major League Baseball will still be able to reject the highest bidder and approve the next highest bid — something lenders opposed. But if that happens, the judge can determine if the league acted in good faith, according to the revised procedures.

The judge did allow more time for bidders by setting the auction for Aug. 4, two weeks after the team’s proposed date.

Tags: , ,