Another big league sports team has filed for bankruptcy with plans to have the franchise sold as well.

The hockey team, which is based in Dallas, last made the news when it was purchased by a former billionaire. In addition to owning the hockey team, the former billionaire also had a stake in a soccer club in England. However, when he tumbled off the Forbes' most wealthy last year, he gave up his stake in the soccer club. He also decided to give up another team he owned, a baseball team, to a bankruptcy court.

While this is terrible news for the former billionaire, it is a windfall for another businessman who is ready to swoop in and purchase the hockey team. He has already made an initial offer of $50 million in cash along with another $100 million to pay off debts owed to a mounting list of creditors who are ready to receive their share.

Bankruptcy can be difficult to go through. For this reason, people should enlist the help of a Houston bankruptcy attorney by contacting the Malaise Law Firm. With a lawyer on their sides, people will find that the bankruptcy process is less arduous.