This article first appeared on The Am Law Daily.
If the Phoenix Coyotes bankruptcy was the first major test of whether business interests and courts can override the power of professional sports leagues, the sale of the Texas Rangers to a consortium headed by a Pepper Hamilton partner is shaping up to be an even more dramatic sequel. The big news: Major League Baseball Commissioner Bud Selig has indicated he may seize the Rangers and invalidate loans held by creditors opposed to the deal on the table, according to this story in the Sports Business Journal.
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