I hope the Dallas Stars fans have been paying attention to what's been going on with the Phoenix Coyotes, because Tom Hicks is having some severe financial problems with the Texas Rangers, and there's nothing to indicate that, come hockey season, this won't be happening with the Stars.
Specifically, and stealing from my summary over at my ClownVision Chronicles blog, it goes like this. According to Yahoo! Sports the Rangers recently borrowed $15 million from MLB to meet payroll obligations.
Now, unlike with the NHL and the Phoenix Coyotes, MLB isn't claiming that this loan of money is allowing it to take control of the team. It is assumed that should the team attempt to add payroll come the trading deadline, that MLB will have a say in whether that happens -- kind of like what happened when MLB was running the Montreal Expos.
There's been some major financial problems with the Rangers and Stars for Tom Hicks this year, and the problems have been so serious that owner Hicks has announced that he's selling a controlling interest in the Rangers and is willing to part with an ownership interest in the Stars. And earlier this year, Hicks purposefully defaulted on loans for money that was used to purchase the Rangers and the Dallas Stars.
This could all mean nothing when it comes to the Stars. The Yahoo! post seems to imply that the Rangers will soon be sold, which would probably give Hicks the money needed to handle affairs with the Stars. But if not, is it possible that there could be another repeat of Phoenix in Dallas with the NHL loaning Hicks money to keep the Stars afloat and the NHL attempting to take control of the franchise?
It's too early to know the answer to this question. But for those of you interested in the well-being of the Stars, keep a close eye on the state of the Texas Rangers. The sicker the Rangers, then possibly the sicker the Stars.
Friday, July 3, 2009
Hey Dallas! Have You Been Paying Attention To Phoenix?
Labels:
Bankruptcy,
Dallas Stars,
NHL,
Phoenix Coyotes,
Tom Hicks
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4 comments:
Speaking of this, why on Earth is ANYONE signing free agent deals to play in Phoenix? I'd worry I was going to be paid, never mind all the distractions and ugly going on there right now. Crazy!
Remember, part of the reason Norm Greed carpetbagged (er, moved) the North Stars to the 'Plex is because he was facing a similar situation. The only difference between then with Norm and now with Tom Hicks was that instead of a consortium of banks putting the lean on Hicks, it was the Province of Alberta calling in Norm's IOU's.
Nolan Ryan will end up putting an ownership group together that will buy the Texas Rangers.
And what will that do to the AUSTIN Stars?
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