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Hicks Denies that Dallas Stars Could be “Repossessed” by Bank
by Alanah McGinley on 04/03/09 at 12:48 PM ET
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Earlier today, a website called FINalternatives reported that “Tom Hicks’ sports team holding company has defaulted on more than $500 million in loans.”
Jim Boardman at Anfield Road provides more info:
The news has clearly come as a surprise to the press in Dallas, who are continuously updating their websites with any information they can get. In The Star Telegram’s report of the story they say Hicks has been in touch by email, denying that the two teams could be repossessed: “There is no possibility of banks owning the teams.”
Hicks said that both the NHL and MLB (the two leagues his Hockey and Baseball teams play in) are helping him to find alternative investment but that he will pay their bills himself in the meantime: “I am working closely with both leagues to find quality partners that share my long term vision of building these two great franchises. I will continue to fund the teams’ operations. I am the largest creditor to HSG and need 51 percent of the banks to agree with my plan.”
Full story here.
Filed in: NHL Teams, Dallas Stars | KK Hockey | Permalink
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let the financial destruction of the NHL begin. i told you people weeks ago that alot of team were in trouble
Posted by FlyersFan on 04/03/09 at 05:41 PM ET