Source: SKY_Sports
Hicks rejects Stateside fears
Tom Hicks has rejected reports which have intimated he is in danger of losing his US-based sports teams as a result of failing to make an interest payment on his loans.[LNB] It has been speculated Liverpool co-owner Hicks is in danger of losing some of his interests to banks, after a story circulated about his not meeting of a payment on $525million in loans.[LNB]Hicks has a 50 per cent stake in Liverpool but the Anfield outfit are not connected to the loans taken out by Hicks Sports Group (HSG), the holding company which owns the Texas Rangers baseball club and the Dallas Stars ice-hockey team.[LNB]HSG was reported by financial website FINalternatives to have defaulted on $450million in bank loans and a $75million revolving credit facility last Monday.[LNB]Dallas-based Hicks, who announced this week that he was seeking a buyer for a minority interest in his 95 per cent stake in the Rangers and Stars teams, emailed the Fort Worth Star-Telegram to respond to the reports.[LNB]He wrote: "There is no possibility of banks owning the teams.[LNB]"I am working closely with both leagues to find quality partners that share my long-term vision of building these two great franchises.[LNB]"I will continue to fund the teams' operations. I am the largest creditor to HSG and need 51 per cent of the banks to agree with my plan."[LNB]
