Thomas Hicks, a well-respected Dallas financier, is once
again thinking about purchasing the Stars, according to the
Toronto GLOBE & MAIL. David Shoalts reports that Hicks, who
dropped out of the running to buy the team in June, earlier this
week began negotiating with NHL Commissioner Gary Bettman.
Bettman took over sales negotiations for the Stars from Owner
Norm Green after the club's largest creditor, Alberta Treasury
Branches, issued an ultimatum for sale of the club, or risk
foreclosure on its loan. While Hicks declined comment, a source
close to the Stars said he became interested again after being
contacted by Bettman. Bettman, however, faces a problem in that
Hicks is "unlikely" to pay the $85M asking price up front. And
one source says Bettman is still talking to other potential
buyers because "he wants to exhaust the possibilities of getting
people who can do something really quick." Hicks reportedly may
make an offer in the $80M range, but only if long-term payments
are possible for part of the deal. Shoalts added whoever buys
the Stars will have to be able to work with the city of Dallas
and Mavs Owner Donald Carter to cut a deal for a new arena --
which favors Hicks since he and Carter are close (Toronto GLOBE &
MAIL, 11/30).
