Hicks Selling Stars
Wednesday, August 18th, 2010According to Forbes, Tom Hicks is on the verge of selling the Dallas Stars franchise. He’s also selling off his 50% stake in the American Airlines Center. The report says that Hicks will get about $300 million for his portion.
Creditors of Hicks Sports Group will get back about $200 million in addition to what they’ll get from the sale of the Texas Rangers.
No word yet on a potential buyer, but reports have leaned towards Mark Cuban as the guy with the opportunity. Cuban once wanted to buy the Pittsburgh Penguins, of course, and many have predicted that he put out feelers in terms of buying the Stars.
Hicks recently sold his interest in the Rangers baseball club and also owns half of English football club Liverpool. He bought the Stars for a cool $84 million in 1996.
There have been rumours about potential buyers for the Stars for a while, with Alberta oil tycoon Bill Gallacher once being tied to the purchase for $225 million. The reports were refuted after it came out in the Dallas News that the price tag suggested was “far too low.” It’s still possible that hockey fan Gallacher is still in the mix with a slightly raised bid. He does own the Portland Winter Hawks of the WHL, after all.
Vancouver businessman Tom Gaglardi is apparently also among the runners for Hicks’ Stars.
Posted by Jordan Richardson.

