Evan
03-06-2008, 01:02 PM
Report: Hicks seeks equity from his sports possessions
Stars, Rangers could be used to help fund takeover of soccer team
12:01 AM CST on Thursday, March 6, 2008
By MIKE HEIKA / The Dallas Morning News
[email protected]
Tom Hicks declined to comment to The Dallas Morning News on Wednesday regarding a report from England that he will try to fund a financial takeover of the Liverpool FC soccer team through efforts that would include adding new investors to his Hicks Sports Group, the parent organization of the Texas Rangers and Dallas Stars.
The Associated Press, citing an anonymous source, reported investment bank JP Morgan Chase & Co. will seek to raise private equity through the sports group, which also includes Mesquite Championship Rodeo. That could mean selling a percentage of the organization.
Hicks and George Gillett Jr., who owns the NHL's Montreal Canadiens, have shared ownership of the Liverpool team since last February. The club's fan base has been disappointed in the team's play and in what it considers the new ownership's indifference toward acquiring better players.
Liverpool, which has won 18 English titles, is in fourth place in the 20-team Premier League. It also is among nine European teams still alive in the prestigious Champions League competition.
Tom Hicks (left) and George Gillett Jr., shown at a Liverpool FC game last year, have been criticized by fans of the team. In late January, Hicks and Gillett announced a $682 million refinancing arrangement that will allow them to carry through with a promise to build a 71,000-seat stadium to open in 2011.
Gillett recently expressed willingness to sell his half of the team. Hicks has said he isn't interested in selling and Tuesday told The News an $800 million bid to buy the team by DIC was rejected. Hicks previously said he had been negotiating with Dubai group, which he outbid for the team last year, for a 10-15 percent stake in the team, but negotiations fell through.
Hicks bought the Stars in 1996 and the Rangers in 1998 and has operated them under several umbrellas. Hicks Sports Group was formed in 2006 after Hicks retired from his leverage buyout company, Hicks, Muse, Tate & Furst. He put the Stars up for sale in 2002, didn't identify a deal he liked and took the team off the market
Stars, Rangers could be used to help fund takeover of soccer team
12:01 AM CST on Thursday, March 6, 2008
By MIKE HEIKA / The Dallas Morning News
[email protected]
Tom Hicks declined to comment to The Dallas Morning News on Wednesday regarding a report from England that he will try to fund a financial takeover of the Liverpool FC soccer team through efforts that would include adding new investors to his Hicks Sports Group, the parent organization of the Texas Rangers and Dallas Stars.
The Associated Press, citing an anonymous source, reported investment bank JP Morgan Chase & Co. will seek to raise private equity through the sports group, which also includes Mesquite Championship Rodeo. That could mean selling a percentage of the organization.
Hicks and George Gillett Jr., who owns the NHL's Montreal Canadiens, have shared ownership of the Liverpool team since last February. The club's fan base has been disappointed in the team's play and in what it considers the new ownership's indifference toward acquiring better players.
Liverpool, which has won 18 English titles, is in fourth place in the 20-team Premier League. It also is among nine European teams still alive in the prestigious Champions League competition.
Tom Hicks (left) and George Gillett Jr., shown at a Liverpool FC game last year, have been criticized by fans of the team. In late January, Hicks and Gillett announced a $682 million refinancing arrangement that will allow them to carry through with a promise to build a 71,000-seat stadium to open in 2011.
Gillett recently expressed willingness to sell his half of the team. Hicks has said he isn't interested in selling and Tuesday told The News an $800 million bid to buy the team by DIC was rejected. Hicks previously said he had been negotiating with Dubai group, which he outbid for the team last year, for a 10-15 percent stake in the team, but negotiations fell through.
Hicks bought the Stars in 1996 and the Rangers in 1998 and has operated them under several umbrellas. Hicks Sports Group was formed in 2006 after Hicks retired from his leverage buyout company, Hicks, Muse, Tate & Furst. He put the Stars up for sale in 2002, didn't identify a deal he liked and took the team off the market