NEW YORK (Reuters) - Alex Rodriguez, the New York Yankees third baseman, has objected to the Texas Rangers' proposed bankruptcy plan on concern he may not be paid the $24.9 million of deferred compensation his former team owes him.
"It is not clear under the plan" that Rodriguez's contract will be assumed by whoever buys the team, the ballplayer's lawyer wrote in a Wednesday filing with the U.S. bankruptcy court in Fort Worth, Texas.
Rodriguez does not object to such an assumption, provided that he gets "adequate assurance" that whoever takes over the contract will pay him, the filing shows.
The Rangers filed for bankruptcy protection in May, hoping to sell the team to a group led by Hall of Fame pitcher and team President Nolan Ryan and Pittsburgh lawyer Chuck Greenberg.
Many creditors have objected to the sale or parts of the plan, believing the team and their interests are worth more.
Several other creditors on Wednesday filed objections, some of which are limited, to the plan, according to court records.
These include a group of lenders; the official committee of unsecured creditors; the Major League Baseball Players Association; and the office of baseball Commissioner Bud Selig, which has supported the sale to the Ryan-Greenberg group.
A court-supervised auction of the team is set for August 4.
Rodriguez turned 35 on Tuesday. He played for the Rangers from 2001 to 2003 under a 10-year, $252 million contract. He opted out of that contract in 2007 and is now in the third year of a 10-year, $275 million contract with the Yankees.
The case is In re: Texas Rangers Baseball Partners, U.S. Bankruptcy Court, Northern District of Texas, No. 10-43400.
(Reporting by Jonathan Stempel in New York; editing by Andre Grenon)
