SBD/29/Franchises

SALE OF STARS COLLAPSES -- GREEN LOOKS FOR NEW INVESTOR

     Dallas financier Thomas Hicks "couldn't reach a deal to buy
part of the Stars, leaving team Owner Norman Green to find other
investors to help him repay lenders," according to Richard Oppel
in this morning's DALLAS MORNING NEWS.  Green called the collapse
of talks "unfortunate" and said that Hicks "would have been a
great asset."  Green said that conversations with others are
"ongoing," but he would not identify any new potential investors.
He did say he "is certain something will be finalized" by the end
of July.  Oppel reports that the Hicks deal "could have put the
new investors on better footing than Green."  The Hicks group's
investment to be "senior" to Green's, so if the team were sold or
had financial trouble, the Hicks investors would be repaid before
Green.  A prior deal (also unsuccessful) with Ross Perot Jr. was
said to have included the same clause (DALLAS MORNING NEWS,
6/29).
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