Friday, May 29, 2009
Tom Hicks puts Texas Rangers up for sale; Dallas Stars not yet up for grabs
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Photo not provided by the Texas Rangers
For sale: MLB team. Great starter team for young married couple. Asking $210 million. Serious inquiries only
ARLINGTON — According to this story from ESPN, it appears Tom Hicks, the oft-maligned owner of both the Texas Rangers and the Dallas Stars, is looking to sell a majority stake in the baseball team.
Having recently defaulted on a half a billion dollars in loans, Hicks Sports Group has announced it is looking for partners to take a controlling interest in the Rangers.
Hicks has also said that the Stars are not for sale, likely because of a far weaker hockey market that has already seen the Phoenix Coyotes file for bankrupcty.
According to Forbes, the Rangers are worth roughly $405 million, good enough for 15th out of 30 teams in the major leagues. Several potential buyers' names have been thrown around, including current Rangers president Nolan Ryan, and former car dealer David McDavid.
Posted by Todd M.
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