Rangers/Stars Owner Tom Hicks: “We Want The Banks To Be Reasonable”
Rangers/Stars owner Tom Hicks said he is asking bank lenders “to be reasonable” regarding the interest payment on more than $500 million in loans relating to the two clubs and the assets of Hicks Sports Group.
Before we go any further, we should probably explain to our British friends that Liverpool Football Club is not among the HSG holdings and neither are any of Hicks’ other business interests.
An interest payment was due on March 31, but Hicks said Friday that HSG had elected not to make the payment. HSG is in the process of trying to negotiate with the 40 lenders to allow it to make the interest payment out of the interest reserve provision. Hicks must get approval from the banks that hold 51 percent of the loans to approve such a deal. (D Magazine 4/3)
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