Hicks on verge of selling stake in Texas Rangers

Hicks on verge of selling stake in Texas Rangers

Liverpool co-owner Tom Hicks has moved a step closer to selling the Texas Rangers Major League Baseball franchise in a move that could free up funds for his indebted Premier League club.

Hicks found a number of interested bidders for the Rangers, and late on Tuesday night selected a group led by Pittsburgh lawyer Chuck Greenberg to enter exclusive negotiations.

Hicks now has 30 days to agree a deal with Greenberg before submitting plans to MLB for approval. The banks that hold Hicks' debt must also approve any sale.

The deal would see the Hicks family retain a small share of the team. No price has been revealed, but it is estimated the Rangers could fetch up to £300 million.

``Our family has chosen to negotiate with the group we believe will be best to protect and ensure the long-term positive future of this franchise,'' Hicks said in a statement that appeared on the Rangers website.

``We understand that this is more than a transaction. You never really own a baseball team; you just have the right to be the trustee of a public institution.''

Hicks has been working since last spring to sell the Rangers due to the debts held by his Hicks Sports Group, which defaulted on debts attached to the Rangers and Dallas Stars National Hockey League franchise back in May.

Hicks also has significant debts attributed to his co-ownership of Liverpool with George Gillett.

Earlier this month, Gillett completed a deal to sell the Montreal Canadiens NHL franchise but is yet to invest any of the £333 million that deal reaped into Liverpool.

The Anfield club's debts are estimated to stand at around £240 million, and manager Rafael Benitez last week suggested they were hampering Liverpool's ability to compete.

Despite selling their other sporting interests, it is reported that Hicks and Gillett are continuing to seek investors in Liverpool.

http://soccernet.espn.go.com/news/story?id=713785&sec=england&cc=5901

Same with a football club, Tom. Especially one with a glorious history unlike the Texas Rangers.

A lot happening in the news lately with these two. I'm not getting my hopes up, yet.

What a Christmas present that would be, though.

Well if they managed to pump 100 million into the squad, I'm sure it would go a long way to righting their wrongs, Rome was not built in a day however I'm sure it would be a step in the right direction for appeasing us fans. 50 million each from Tom & George's windfalls, go on ya pair of bas**rds get your hands in your pockets.

Personally I don't want them to put any more of their ill gotten gains into the club I just want the pair of f###ers out of the club with not so much as a backward glance .

Personally I don't want them to put any more of their ill gotten gains into the club I just want the pair of f###ers out of the club with not so much as a backward glance .

I think we'd all like to see them go mate, but if they were to invest 100 million in the squad alone between them it would any help us progress and regardless what I think of them two bas**rds I just want the Reds to do well.

Much prefer to get a transfer budget, then see them go.

if they ain't going to sell up or sell a share of the club they have to give Rafa significant funds for transfers. I doubt that will happen but it would be a step in the right direction.

Why does he keep hold off this club, he sees a global market bigger than anything inside America for this club, he knows the potential for this club, trouble is he do not like putting any money into anything nevermind a football club from England, why did Moores sell to him after deadly doug had turned down Gillett and Hicks in favour of Randy Learner, they were even willing to pay 30 mill more for Villa than Learner was. (Sound Familiar).

We will see F**k all of this money from this or the other c**t.... All they care about is paying the interest off on our loans and as long as we get 4th and have a quarter final season in cup runs be it Champs league or Europa these two cu*ts are happy.... When the do sell on it will probable be to some other money grabbing saggy faced retard... When they came I was promised Rafa would have the funds to get 'Snoogy Dogg' if he wanted and now 2 years later I F***ing want him can't be as bad as Voronin...

If they come into some money, then i think it will come down to what we need most, a transfer kitty or a new stadium - a topic that was discussed on here not too long ago. Personally, i'd prefer a transfer kitty for several reasons, but as far as i'm aware, H&G have always stated they will buy a stadium for LFC once the recession is over?

So once they have some money, i think it will all go on a new stadium. Not saying thats a bad thing as such, but we would be in a similar situation to Arsenal then. Fantastic stadium, great place to play football, earning more money from ticket sales etc, but our transfer kitty will still be fairly poor for atleast five seasons but more like 10 i reckon.

Arsenal cope well because Wenger and his scouts can spot a gem from a mile away and buy him for 50p. Rafa hasn't got that quality i don't think so we would still struggle.

Rafa is in control of the budgeting now he has been quoted recently saying that... the problem is that we have to sell before we buy... I was a harsh critic on asking why rafa got rid of crouch, bells and sissoko when the depth is needed now but I now realise he had to sell Crouchy and Bells to buy Torres and sell Momo to get Javier... and I know for certain I want Nando and Javier but Why not use the 12 million from Keano for Arshavin

Shame he's not on the verge of selling a certain football club instead!

I don't want any money form them gobsh*tes,as it's not going to come.I want them to f*ck off now,the damage they have done to this club will be with us for years to come.If Rafa syays we might retain some respectability within Europe,without his influence,we are f*cked for a generation.

they're not investing because they're not confident in their decisions regarding football

they see it as a risky venture because they don't get it

leave it to someone who knows what they're doing

they've been isolated to america and don't wanna put up for something they think they could potentially make a loss on

There's no point in being childish and saying "I don't want your money, just go away", we all know they're going nowhere fast, so let's just hope we get some money.

There's no point in being childish and saying "I don't want your money, just go away", we all know they're going nowhere fast, so let's just hope we get some money.

i don't think it's childish

i think people are fed up with a lack of interest from this pair of cu*ts and want them to sell up to someone who cares about the club

we need owners that'll at least sustain us at the level we were at last season

at the end of the day, when the transfer window comes around, these guys don't fork up and this one'll be no different