Dallas Stars and Texas Rangers owner Tom Hicks, facing increased debt pressures, has been funding...
Dallas Stars and Texas Rangers owner Tom Hicks, facing increased debt pressures, has been funding operating losses for the teams out of an interest reserve that is part of the $525 million loan on which he defaulted on March 31, sources said. That action has rankled the lenders who are waiting for the Rangers’ sales process to play out and who have not been paid interest since January. In addition, that interest reserve, totaling $17 million earlier this year, is almost depleted, according to several of the sources.
For Us Business Nerds, Hick's Finding New Ways To Look Like A Horrible Businessman