A sports group belonging to Tom Hicks has defaulted on $525m worth of loans, an American newspaper reported last night.
The report originally surfaced on the financial website FINalternatives, but was also reported in the Dallas Star.
According to the reports, the loan is partially secured on the Texas Rangers and Dallas Stars baseball teams owned by Hicks.
But the loan is not secured on Hicks’ 50 per cent stake in Liverpool or by the American businessman’s personal assets.
The $525m debt is divided into a $350m bank term loan, $100m second-lien loan and a $75m revolving credit facility.
“There is no possibility of banks owning the teams,” Hicks wrote.
He added: “I am working closely with both leagues to find quality partners that share my long term vision of building these two great franchises.”
The report originally surfaced on the financial website FINalternatives, but was also reported in the Dallas Star.
According to the reports, the loan is partially secured on the Texas Rangers and Dallas Stars baseball teams owned by Hicks.
But the loan is not secured on Hicks’ 50 per cent stake in Liverpool or by the American businessman’s personal assets.
The $525m debt is divided into a $350m bank term loan, $100m second-lien loan and a $75m revolving credit facility.
“There is no possibility of banks owning the teams,” Hicks wrote.
He added: “I am working closely with both leagues to find quality partners that share my long term vision of building these two great franchises.”
No comments:
Post a Comment