Hicks Sports Group in default. - Fantasy Baseball Cafe 2014 Fantasy Baseball Cafe
100% Deposit Bonus for Cafe Members!

Return to Baseball Leftovers

Hicks Sports Group in default.

Moderator: Baseball Moderators

Hicks Sports Group in default.

Postby Pogotheostrich » Tue Apr 14, 2009 2:13 pm

Mr. Hicks has declined to continue making up the difference out of his own pocket, according to a person familiar with the matter.

That has angered some of the lenders -- a collection of large banks and smaller investment funds -- for whom the default notice begins a process that could put the banks in control of the teams. That won't happen for at least 180 days, however, as lenders have agreed to National Hockey League provisions that prevent immediate foreclosure. Major League Baseball's rules for such situations are more fluid, though if Hicks Sports Group can't satisfy lenders, the lenders can eventually force an MLB-sanctioned sale of the Rangers. ...

"I'm confident that I'll be able to reach agreement with 51% of the lenders because I will be able to fund all the cash needs of the two teams during the period that I'm bringing in new partners, which will help us to drastically reduce if not eliminate HSG's debt," Mr. Hicks said in an interview.


http://blogs.dallasobserver.com/unfairp ... _event.php

I know Young was on the block earlier but the Rangers don't seem to have many moveable high salary players.
Image
Pogotheostrich
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicFantasy ExpertCafe WriterMock(ing) DrafterEagle EyePick 3 Weekly WinnerLucky Ladders Weekly Winner
Posts: 21609
(Past Year: 378)
Joined: 9 Dec 2002
Home Cafe: Baseball
Location: St. Louis

Return to Baseball Leftovers

Who is online

Users browsing this forum: No registered users and 7 guests

Forums Articles & Tips Sleepers Rankings Leagues


Today's Games
Thursday, Aug. 21
(All times are EST, weather icons show forecast for game time)

Houston at NY Yankees
(1:05 pm)
Cleveland at Minnesota
(1:10 pm)
Detroit at Tampa Bay
(1:10 pm)
indoors
Arizona at Washington
(4:05 pm)
LA Angels at Boston
(7:10 pm)
Atlanta at Cincinnati
(7:10 pm)
San Francisco at Chi Cubs
(8:05 pm)
San Diego at LA Dodgers
(10:10 pm)

  • Fantasy Baseball
  • Article Submissions
  • Privacy Statement
  • Site Survey 
  • Contact