SBD/Issue 33/Franchises

Hicks Refutes Report, Says He Has No Plan To Sell Stars

Report Speculated Hicks Would Have To Sell
Stars And Rangers To Resolve Current Debt
Stars Owner Tom Hicks yesterday reiterated that he "has no plans to sell the Stars" despite a report that "speculated Hicks would have to sell both the Stars and the Rangers to resolve his current debt situation," according to Mike Heika of the DALLAS MORNING NEWS. Hicks added that he "believes his debt situation with Hicks Sports Group [HSG] will get resolved and that he will retain ownership of the Stars." Hicks: "Hicks Sports Group is working through the default issue with its lenders and is in the process of getting things resolved. I believe that will be resolved in a positive manner, and we'll move forward from there. But I have no interest in selling the Stars." NHL Deputy Commissioner Bill Daly in an e-mail said the league understands there are "ongoing financial issues that are being worked through involving Mr. Hicks' sports properties, but we are working with the club and with Mr. Hicks closely to see that they are resolved in a manner satisfactory to all parties." Daly added that the league is "in contact with potential investors at all times and has forwarded those contacts to Hicks." Meanwhile, Heika notes depending on the offers Hicks receives for the Rangers, he "could sell all of his interest" in the team or "retain some." Hicks added that he "would study any potential investors in the Stars after that" (DALLAS MORNING NEWS, 10/28). Hicks: "The Rangers process, however that comes out, will take care of HSG's needs. The Stars are not part of that. They are not for sale." ESPNDALLAS.com's Richard Durrett cited NHL officials as saying that the league has "not assisted Hicks financially with the Stars and that there is no pressure from the league for Hicks to sell the team" (ESPNDALLAS.com, 10/27).

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