Seeing Stars: Creditors Finally Wonder Why Tom Hicks Isn't Selling Off His Hockey Team

By Robert Wilonsky Mon., Aug. 17 2009 at 11:19 AM

Categories: Biz, Sports

Five months ago, Tom Hicks's Hicks Sports Group defaulted on a $525 million loan; at the same time, he acknowledged that, yes, he was looking for someone who might be interested in buying some of the Texas Rangers offa him for the right price. Then, at the end of May, Hicks said he was, in fact, trying to find a taker for his majority stake in the now-wild-card-leading ballclub -- while, at the same time, Hicks was restructuring his debt in Liverpool in advance of a looming interest payment from Royal Bank of Scotland and Wachovia due at the end of July. But all along, there's been one question that's gone unanswered: Why isn't Tom Hicks selling the Dallas Stars?

For really the first time since the issue of Hicks's debt and default has arisen, there's some insight into that very query: the Sports Busines Journal reported this morning in a subscription-only story now available in full via the Dallas Business Journal that more than three dozen of HSG's creditors last month asked Hicks and the National Hockey League how they're going to straighten out this financial crisis. Hicks has said he doesn't have to worry about that till August 2010; the creditors insists that, nope, this bill comes due this October. Says one source, "There will be litigation for sure."

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check out spirit of shankley in the uk see what this man is doing to our great football club liverpool fc i feel for you exactly the same for us he is a disgrace
IMO, Mr. Hicks is a "wanna-be playa" that is going through the mid-life crisis and he keeps spending money he can't afford to spend on heavy weight sports teams to make himself feel young and viral. Why else would he buy a soccer team in England. It's not like he will hop a plane and go to a majority of their games like a good owner would. As for selling the Stars, yes, I think Tom Hicks glory days of ownership are over since the institution of the CAP and now the Stars are having to help pay his bills. Seems kind of backward but I'm just an average citizen not involved in high finance so what do I know. The problem with that is there are lots of people out there that would love to own the Stars and get them to Canada. The Stars have a big following here and, as for me, I think it is the best sport in town. O.K. you Cowboy fans, if you haven't been to a game then don't knock it. It is something I can go to and have fun and escape the cowboy mentality that this city is. No, the Stars don't belong in Arlington but the jury is still out on feeling comfortable with a sale of the team. I just know that I don't want them to leave this city.
Hicks is just about to lose the most sought after manager in World soccer because he has gone back on a contractual agreement and has used over $50 million of player sales to feather his own nest rather than re invest in the team. Does this sound familiar to you guys in the states
Time to pack it up and move the Stars to Arlington, the city of winners. Surely Jerry World has room for an ice rink.
I think Bob Schlegel would jump at a chance to own an NHL franchise.
Last week Norm was saying that Hicks owed more on the Rangers then they were actually worth.
Have yall noticed the patches of dying grass out at Rangers Ballpark the last few weeks? It's embarassing.
Pink Floyd is the most overrated band in rock history - by far. Just because the Doors put on airs doesn't mean there wasn't legitimacy to their songs. Ray has a different voice inflection. Hicks is a predator who can only serve the planet by flushing himself down the toilet. Corrupt through and through.
Based on the issues the Phoenix team has selling itself, it's pretty obvious there's not much of a market for NHL teams right now.
Robert, I also agree that The Doors are over rated but that guy sounded just like you. Bob and Dan said many e-mailers thought it was you.
Investor, did I reiterate my claim that the Doors are the most overrated band in the history of rock? If not, then it most assuredly was not I.
It wouldn't be such a bad thing if the NHL takes over the Stars. It wouldn't take long for them to find a buyer.
Hey Robert, I just heard you do an interview on The Ticket as Ray Manzarek.
Hicks needs to call it a day. The Corndog Ranger needs to sell both the Rangers and Stars to parties who both know the business and have the love of those particular sports.