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Red alert - Liverpool owner Hicks sees U.S. business default on 350m loan
Published : 15 Apr 2009 13:42:32
The American sports firm owned by Liverpool money man Tom Hicks has defaulted on $525million (£350m) of loans. And he now risks losing control of the Texas Rangers baseball team and Dallas Stars ice hockey franchise, according to financial experts. The Anfield co-owner insists his U.S. interests are entirely separate from his holding in Liverpool, which he shares with compatriot George Gillett. However, the pair are in negotiations with Royal Bank of Scotland over extending a £350m loan secured in part against the Barclays Premier League club that comes up in July. The default notice in the U.S. was triggered when the Hicks Sports Group failed to meet a March 31 $10m quarterly interest payment due on the loans.