WON’T SOMEBODY PLEASE TAKE TOM HICKS’ BASEBALL TEAM AWAY FROM HIM BEFORE HE DOES ANY MORE DAMAGE?

FORMER PITCHING LEGEND NOLAN RYAN MAY BE THE NEW OWNER OF THE TEXAS RANGERS

Congrats to Tom Hicks of the Texas Rangers! He may be the first baseball owner in history to have his team repossessed. Hicks has been unable to pay his sports teams operating expenses since April. Hicks can’t even afford just  the interest on the debt he owes in financing the Rangers and hockey’s Dallas Stars. He also owns 50% of the Liverpool soccer team in England.

Hicks has been trying to find investors to provide him with the necessary cash to prevent his franchise from going broke. Major League Baseball has been running the Rangers during Hicks’ financial difficulties. Recently, Hicks thought he had found an angel. Former sports agent Dennis Gilbert was supposedly going to come up with hundreds of millions of dollars to buy a percentage of the club from Hicks and save the franchise. That would have meant an end to former Rangers pitcher Nolan Ryan and his tenure as an executive with the Rangers. Ryan is trying to put together a rival ownership group to Gilbert’s and buy the Rangers himself.

Ryan was as good as gone. Once Gilbert finalized his deal with Hicks, the Hall of Fame pitcher was set to resign as team president. However, Gilbert pulled out at the last minute, after being unable to secure financing. That leaves Hicks high and dry. Thanks to the former radio executive’s financial ineptitude, the Texas Rangers are so broke they can’t make any moves during next week’s baseball Winter Meetings. Ryan remains Rangers president for now.

There is an ESPN report that Hicks wanted to take a cable tv deal from Fox Sports that gave him immediate cash up front. However, MLB wasn’t going for it since it would be way below market value for the Rangers tv rights long term.

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