CREDITORS MAY TAKE RANGERS AND STARS FROM HICKS

 tomhicks

TOM HICKS: RANGERS OWNER IS ALL HAT AND NO CATTLE

The Wall Street Journal is reporting that Tom Hicks may be the first professional sports owner to actually have his franchises repossessed. Tuesday’s Journal says creditors have declared the Hicks Sports Group in default. That is the first step in stripping Hicks of his Major League Baseball team, the Texas Rangers, and his NHL hockey team, the Dallas Stars.

Hicks defaulted on payments owed to 40 banks and credit institutions. He owes them $525 million.

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