A federal judge has ruled that Rangers owner Tom Hicks cannot sell the team to a group including Nolan Ryan without satisfying the banks that loaned Hicks more than $525 million.
The ruling handed down Tuesday at the federal courthouse in Fort Worth appeared at least initially to deal a crushing blow to a "prepackaged bankruptcy plan" announced by the team with much fanfare last month.
At that time, Hicks said he hoped the sale could be completed by the All-Star break. The Rangers and their fans have expressed hope that the deal could be done no later than the major league trade deadline, which is July 31.
With the complicated sale still pending, the Rangers are operating under a budget set by Major League Baseball, meaning they could have problems taking on large contracts in a trade.