Pressure from lenders could force sale of Texas Rangers, Dallas Stars, experts say

[El Supremo]

Dallas billionaire Tom Hicks risks losing control of the Texas Rangers and Dallas Stars now that his sports firm, HSG, has formally defaulted on $525 million in loans, financial experts say.

Although experts agree that creditors could force HSG into bankruptcy, that possibility also appears to be a long way down the road.

"A banker doesn’t want to own a baseball team, but it would be possible to put enough pressure on Hicks where the team ownership would be changed," said Stan Block, a finance professor at the Neeley School of Business at Texas Christian University.

Lenders have notified HSG that it has formally defaulted on $525 million in loans. Hicks said recently that he intentionally missed the March 31 interest payment as he tries to restructure the debt....

http://www.star-telegram.com/189/story/1317335.html

Man, do I ever hate this guy. Not only was he the most important bankroller in G.W. Bush's life, and the one who blew MLB salaries sky high, but he also has his fucking name on a building at my old high school. I'm going to my class reunion next week and I want to puke.

I hope the bastard does have to declare bankruptcy. And I hope both he and the Shrub are forced to move out of Preston Hollow.