Tom Hicks, owner of Liverpool FC, the Texas Rangers and the Dallas Stars, has dissolved Hicks Sports Marketing Group (HSMG) and split its employees between the Rangers and the Stars. The Hicks Sports Marketing Group website is already offline.
HSMG was formed in 2006, primarily to sell corporate advertising and sponsorship for Hicks’ sports franchises. With finances forcing the American businessman into selling the Rangers - once a suitable buyer can be found - the group appears to have outlived its usefulness. That is certainly Hicks’ version of events: “It’s a natural progression where there isn’t a need for that service, so we’re streamlining the company,” he said. “This makes sense for a number of reasons.”
However, the impact the move will have on Hicks’ other franchises is unknown. He has admitted to serious difficulties attracting new investment in the franchises.
“You can’t continue to spend money if the team is losing money, “he said. “We are determined to create as much revenue as possible for each team, and that’s one of the reasons we have changed things. One of our biggest challenges right now is to find ways to market and sell our teams. “
Jim Lites, president of HSMG, is keen on being part of a takeover bid for the Rangers.
HSMG was formed in 2006, primarily to sell corporate advertising and sponsorship for Hicks’ sports franchises. With finances forcing the American businessman into selling the Rangers - once a suitable buyer can be found - the group appears to have outlived its usefulness. That is certainly Hicks’ version of events: “It’s a natural progression where there isn’t a need for that service, so we’re streamlining the company,” he said. “This makes sense for a number of reasons.”
However, the impact the move will have on Hicks’ other franchises is unknown. He has admitted to serious difficulties attracting new investment in the franchises.
“You can’t continue to spend money if the team is losing money, “he said. “We are determined to create as much revenue as possible for each team, and that’s one of the reasons we have changed things. One of our biggest challenges right now is to find ways to market and sell our teams. “
Jim Lites, president of HSMG, is keen on being part of a takeover bid for the Rangers.
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