Are The Texas Rangers About To Go Under?

Here's some interesting baseball news from up Metroplex way, but it appears that the Texas Rangers have had to borrow money from Major League Baseball in order to meet it's payroll. Yahoo! Sports is reporting that the Rangers recently borrowed $15 million from MLB to meet payroll obligations.

While MLB hasn't assumed control of the team -- like what the NHL claims happened when it loaned money to the Phoenix Coyotes -- it is assumed that should the team attempt to add payroll come the trading deadline, that MLB will have a say in whether that happens -- kind of like what happened when MLB was running the Montreal Expos.

There's been some major financial problems with the Rangers this year, and the problems have been so serious that owner Tom Hicks has announced that he's selling a controlling interest in the ball club. And earlier this year, Hicks purposefully defaulted on loans for money that was used to purchase the Rangers and the Dallas Stars.