Texas Rangers File For Bankruptcy, Alex Rodriguez To Lose $25MM In Deferred Comp As Largest Unsecured Creditor

Tyler Durden's picture

The long expected bankruptcy of the Texas Rangers is now a fact as case #10-43400 in Northern District of Texas. The company has listed $100-500MM in assets, and the same amount in liabilities, on 5000-10,000 creditors, of which the largest unsecured one is none other than Alex Rodriguez, who is owed $24.9 million in deferred comp and will likely see at best pennies on the dollar of this GUC. The only beneficiary in this most recent collapse of an American symbol: Dubya, who made about a 1,000% IRR on his investment in and out of the Rangers in the 90s. Tom Hicks, not so much.


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jkruffin's picture

New Jersey Nets and Florida Marlins soon.

cossack55's picture

Don't forget the Indiana Pacers, please.

jessiejune's picture

maybe we should do someone who could be the idole for himself or herself...we should not do just like someone else just be yourself,like a tree.without rely and hopeness Flour Mill For Sale

jessiejune's picture

maybe we should do someone who could be the idole for himself or herself...we should not do just like someone else just be yourself,like a tree.without rely and hopeness Flour Mill For Sale

whatsinaname's picture

The only beneficiary in this most recent collapse of an American symbol - dont know about the symbol part. Sports franchisees have been big beneficaries of this artificial 25 year boom too and will get trampled as the unravelling continues relentlessly.

Moneygrove's picture

One more mess by G.W. !!!!!!!!!!!!!!

Caviar Emptor's picture

Tyler, the muck is getting thicker!

sheeple's picture

Whoa, A-rod's going to have trouble paying rent and maintaining his maserati collections


Poor guy

The Rogue Trader's picture

Prelude to municipal BK's....as they cannot pay their "A Rod's" in the form of outrageous public employee pensions....

tmosley's picture

For a second there I thought you were talking about the law enforcement organization.

Now I'm disappointed.

ZackAttack's picture

If that were the case, Chuck Norris would just roundhouse kick Bernanke until he bailed them out.

rmsnickers's picture

False; one kick from Chuck Norris results in immediate death.

Chupacabra's picture

Little known fact:  When Chuck Norris does push-ups, he isn't pushing himself up . . . he's pushing the earth down.

M4570D0N's picture

haha, same here. Last year, a family friend was named chief of the TX Rangers, becoming becoming the youngest chief in Ranger history. Good thing for him it's the other Texas Rangers. I doubt he could take on Chuck.

Apostate's picture


Most sports teams are in dire fiscal straits these days.

First the circuses go away, then the bread?

Hulk's picture

NBA received 100 million in tarp funds...if memory serves me. 

homersimpson's picture

He wouldn't be getting this huge contract if he didn't take steroids during this era. Boo-hoo to him, I guess. Call it Karma.

koaj's picture

kevin millwood - 12m?!?!?


vincente padilla 4m? he's fantasy add/drop trash

John McCloy's picture

  Ben always wanted to own a baseball team.

seventree's picture

The taxpayers will own the team, good news is we can put them up in Red Roof Inns.

RichardENixon's picture

Don't forget a fleet of GM vehicles.

Moneygrove's picture

just like is boss G.W !!!!!!!!!!!!!!!!

Caviar Emptor's picture

IMO Baseball has been dancing on the edge of the cliff. Raising ticket prices and pay packages into hard times. As a lifelong fan, baseball lost the hearts and minds of fans since the '90s with strikes and steroids. Guys like Clemens and McGwire exemplified the badness. If they go to the hall of fame, all cheaters including Pete Rose should too

Internet Tough Guy's picture

Charlie Hustle never cheated, never took roids. He just placed a few bets. There wouldn't even be pro sports without gambling; free Pete Rose.

Agent P's picture

I agree with you 100%. 

Disclaimer: My childhood baseball card collection sitting in boxes in my closet is about 80% Pete Rose cards.  I also have some Dwight Gooden, Darryl Strawberry, Kirby Puckett, Bo Jackson, etc, etc.  Basically, if you want to ruin a ballplayer's career, just send me his card and I'll hold it in my collection...now I make investment decisions for a living...pretty scary!

RichardENixon's picture

What about Horace Clarke and Jerry Lumpe?

weinerdog43's picture

If we're even considering Pete Rose, Shoeless Joe should get in 1st.

ZackAttack's picture

Absolutely right about that... if you had to point to a single critical event, it might've been the '94 strike that tipped it over.

Now, every modern record is in question. You should really just asterisk anything post-1980. Also, the game's pace is just wrong for the modern era, and it's not clear it can be 'fixed.'

mjv's picture

It is amazing that MLB kept things together enough during two world wars to keep playing, but the epic greed and distrust on both sides in the mid-1990's was enough to skip a world series.

I was a huge baseball fan (and I'm still a fan to a certain extent), but that strike and the steroid scandal have really impacted my interest in baseball and pro sports.

Chartist's picture

Baseball lost me way before the 1990s....I haven't been a fan of baseball since the days of the Big Red Machine.

Hulk's picture

If sports in this country goes bankrupt, then there will be real trouble! Guys dressed in barrels with Ak's roaming the streets! Only on sunday's though...

ColonelCooper's picture

My only thought is that now that this is starting to effect sports, it may resonate with some of the sheeple.  If only Dancing with the Stars could go belly up, then we'd have somebody pissed off. 

AP- American Idols declares Bankruptcy.  Ryan Seacrest left Holding the Bag for 10 Million.  Paula Abdul's Stock Options worth Bubkus.  Rioting Ensues Nationwide!!!

Hulk's picture

and there goes Paulas's fun drugs...

lizzy36's picture

a-rod = epicdouche.

Ludic Fallacy's picture

New Jersey Nets and Florida Marlins soon.

Actually, more like Liverpool soon.  The Hicks group has saddled that club with so much debt, the fans are regularly demonstrating.  It's fun to watch as a Man Utd fan. 

M.B. Drapier's picture

Those who live in, er, glass houses...

Prison Justice's picture

Looks like a perfect time for the Fed to bailout A-Rod.  Makes sense, doesn't it?

Captain Willard's picture

Does this mean that A-Rod gets to chair the creditors' committee?

mjv's picture

Can the Rangers be renamed the Tulips?  I guess that Dubya played Hicks as the greater fool in this case.

Hulk's picture

The Texas Tulips? You sir or madam, are un Amerikan...please exit the country immediately..

aerojet's picture

Dubya never appeared to me to be that bright of a guy or that savvy a businessman, so you do the math on how he managed to get in and then out of the Rangers with the maximum profit.  That doesn't happen by accident, you have to not only know events are going to take place, but also when.

trillion_dollar_deficit's picture

Surprised Selig didn't step in here since there's a precedent for doing so with the Diamondbacks a few years back and to a much greater extent the Expos.

Mae Kadoodie's picture

A-Rod=Too Big to Fail

(that's what she said)

HEHEHE's picture

Does Cameron Diaz know about this?

doomandbloom's picture

guess MTV Cribs will not be going to his home then?

thesapein's picture

Finally, some good news.

Remembering that Dewitt (Cardinals) helped Bush buy the Rangers, once upon a time.