Source: Daily_Mail
Hicks set to sell Rangers sparking hope of fresh investment for Liverpool
[LNB]Sale: Liverpool owner Tom Hicks [LNB]Liverpool co-owner Tom Hicks has moved a step closer to selling the TexasRangers Major League Baseball franchise in a move that could free up funds forhis indebted Barclays Premier League club. [LNB]Hicks found a number of interested bidders for the Rangers, and late last nightselected a group led by Pittsburgh lawyer Chuck Greenberg to enter exclusivenegotiations. [LNB]Hicks now has 30 days to agree a deal with Greenberg before submitting plans toMLB for approval.[LNB] The banks that hold Hicks' debt must also approve any sale.The deal would see the Hicks family retain a small share of the team. [LNB]No pricehas been revealed, but it is estimated the Rangers could fetch up to£300million.[LNB]'Our family has chosen to negotiate with the group we believe will be best toprotect and ensure the long-term positive future of this franchise,' [LNB]Hicks saidin a statement that appeared on the Rangers website. [LNB]'We understand that this is more than a transaction. You never really own abaseball team; you just have the right to be the trustee of a publicinstitution.' [LNB]Hicks has been working since last spring to sell the Rangers due to the debtsheld by his Hicks Sports Group, which defaulted on debts attached to the Rangersand Dallas Stars National Hockey League franchise back in May.[LNB] Frosty: Hicks has a poor relationship with the Anfield faithful[LNB]Hicks also has significant debts attributed to his co-ownership of Liverpoolwith George Gillett. [LNB]Earlier this month, Gillett completed a deal to sell the Montreal Canadiens NHLfranchise but is yet to invest any of the £333million that deal reaped intoLiverpool. [LNB]The Anfield club's debts are estimated to stand at around £240million, andmanager Rafael Benitez last week suggested they were hampering Liverpool'sability to compete. [LNB]Despite selling their other sporting interests, it is reported that Hicks andGillett are continuing to seek investors in Liverpool. [LNB] Torres is going nowhere! Benitez vows to lead Liverpool back into Champions LeagueVIDEO: Liverpool boss Rafa desperate to return to winning ways against Wigan Liverpool fearing more misery as England's 2018 host cities are set to be unveiled LIVERPOOL v Wigan: Javier Mascherano expected to win fitness battleLIVERPOOL FC
