The Biz of Baseball is reporting that the bankruptcy judge's appointed restructuring officer has recommended that new bids for ownership of the Rangers shoulld be accepted in an auction on July 16. The winning bid would have to be at least $10 million more than the current Greenberg-Ryan bid. MLB's representative pointed out that MLB is under no obligation to approve a new buyer. Brown also opines that the "nuclear option," the MLB revoking the Rangers' franchise with MLB taking over, is still a realistic option. In an updated report, the confirmation hearing has been moved from July 9 to July 22, with mediation taking place on July 6-9. A federal bankruptcy judge was appointed mediator. The restructuring officer's recommendation could place pressure on the parties to consider new bids "under the radar" as part of the mediation process.
What does this have to do with the Astros? Well, the Astros desire either Lee or Oswalt in a deadline trade. And they can't do it without a conclusion to the bankruptcy before the trade deadline, July 31. This casts much doubt over that happening.