C2RL R
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Registered: 28th Mar 02
Location: Redcliffe, QLD
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i was reading yesterday that tom hicks is going to sell the dallas stars in order to clear some of the debts at liverpool.
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Tom
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Registered: 3rd Apr 02
Location: Wirral, Merseyside
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quote:
Originally posted by C2RL R
i was reading yesterday that tom hicks is going to sell the dallas stars in order to clear some of the debts at liverpool.
He's just sold the texas rangers for c. £310m, he aint putting any of his own money into us anytime soon. Same as gillet sold his ice hockey team last summer and none of it went into lfc.
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Cosmo
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Registered: 29th Mar 01
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Hicks owns two sports 'franchises' in the states through his holding company HSG (Hicks Sports Group) - MLB Texas Rangers and NHL Dallas Stars.
It had loans of about $525m, and he has been in default (i.e. refusing to pay it) for the last 9 months or so - so much so the MLB has had to lend the Stars money to pay the wages and various running costs.
He has just (or still going through) sold the Rangers for roughly the amount of the loan + penalty charges for defaulting on it - so he could in theory wipe the debts on that company clean. Likely though that he will wipe some of it, and then pocket the rest.
Ive not heard much about him selling the Stars, if he did I seriously doubt you'd see him put any of his own money in to Liverpool.
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mwg
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Registered: 19th Feb 04
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These Americans are badgers
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Marc
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Registered: 11th Aug 02
Location: York
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quote:
Originally posted by Cosmo
It had loans of about $525m, and he has been in default (i.e. refusing to pay it) for the last 9 months or so - so much so the MLB has had to lend the Stars money to pay the wages and various running costs.
How does that work 
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Cosmo
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Registered: 29th Mar 01
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Just refused to pay the 1/4erly $10m repayments (for 3 quarters) until they were prepared to sit around the table and discuss a better deal with him 
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Marc
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Registered: 11th Aug 02
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Ah, so he is paying wages. Just on his terms?
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Ojc
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Registered: 14th Nov 00
Location: Reading: Drives : Clio 197
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These fucking American cunts, we need to go to war with them. Show them who is really boss.
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Cosmo
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Registered: 29th Mar 01
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quote:
Originally posted by Marc
Ah, so he is paying wages. Just on his terms?
Well because he refused to pay the loan repayments the loan facility (basically like an overdraft) was frozen, and because of this the MLB had to step in to provide an emergency loan so they could pay the players wages.
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Marc
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What are the chances of that happening in the PL!
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Cosmo
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Registered: 29th Mar 01
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Well the MLB have some rules in place that mean they can prevent clubs going out of business during the season, even if that means they give an emergency loan until a sale or they actually take over the running of the club until a sale.
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mwg
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Registered: 19th Feb 04
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Have you listened to that interview yet?
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Cosmo
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Registered: 29th Mar 01
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I started to, then realised how long it was so turned it off
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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I listened to it whilst at work Still didn't understand all the financial stuff
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Cosmo
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If I can be arsed I'll have a listen
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