A liquidation sale of the San Angelo Colts (Indy Pro, United Baseball League) was recently held at Foster Field, pursuant to a court order because the ownership failed to satisfy the requirements of the their Chapter 11 reorganization plan. Former GM Mike Babcock, who left the team in 2012 after his eight-year tenure at the helm, blamed central league ownership for the team’s demise and said, “We were making money, and in our worst years, we broke even.” Read more here.
Tag Archives: Bankruptcy
The Bankruptcy Court of the Northern District of Texas in Dallas has put the final nail into the coffin of the San Angelo Colts (Indy Pro, United League Baseball). In a recent ruling, the court ordered the ownership’s Chapter 11 reorganization proceedings be dismissed. The next step is liquidation of its assets under the guidance of the court. Read more here.
The owners of the indy pro San Angelo Colts (United League) are still fighting to keep the team alive as they continue to pursue a reorganization plan in bankruptcy. To protect their interests, a number of debt holders have filed objections. A hearing on the confirmation of the debtor’s plan is scheduled for March 4. As you recall, the bankruptcy trustee would like to convert the Chapter 11 reorganization Continue reading
Contrary to reports that the indy pro United League Baseball will shut down — along with all of its teams, including the San Angelo Colts — ULB owner John Bryant says the league is in danger but not yet dead. Read more here (subscription required). Read our relevant comments below our San Angelo posting here.
Here we go again with the Bryant and Pierce show, as the ownership of the indy pro San Angelo Colts (United League), led by former Congressman John Bryant, has filed for Chapter 11 bankruptcy, which will stay a foreclosure action and keep the team in operation. The Colts recently received notice of foreclosure from their lender on the stadium note for Foster Field, where the team plays. Read more here.
Initial bids for the bankrupt Los Angeles Dodgers are expected next week, and MLB Commissioner Bud Selig is confident that the team will be sold by April 30. Read more here.