Liverpool co-owner Tom Hicks could be forced out of one of his American sports teams, as reports in the USA claimed his financial position is becoming increasingly acute.
Hicks is owner of the Texas Rangers baseball team, but it has been claimed that Major League Baseball, the sport’s governing body for the USA's national sport, has been forced to step in and loan Hicks millions of dollars in the last week to pay his players.
“He won’t be running the team much longer,” a source said.
“Major League Baseball is helping him through this until someone else can be put in place to run the club.”
The latest news comes on top of reports that the Hicks Sports Group defaulted on an interest-only payment on a $525m loan to his US-based sports operations.
The report is unlikely to affect the refinancing of Hicks and George Gillett's LFC loan with Wachovia and the Royal Bank of Scotland.
But it highlights the increasingly precarious financial position Hicks finds himself in.
Hicks is owner of the Texas Rangers baseball team, but it has been claimed that Major League Baseball, the sport’s governing body for the USA's national sport, has been forced to step in and loan Hicks millions of dollars in the last week to pay his players.
“He won’t be running the team much longer,” a source said.
“Major League Baseball is helping him through this until someone else can be put in place to run the club.”
The latest news comes on top of reports that the Hicks Sports Group defaulted on an interest-only payment on a $525m loan to his US-based sports operations.
The report is unlikely to affect the refinancing of Hicks and George Gillett's LFC loan with Wachovia and the Royal Bank of Scotland.
But it highlights the increasingly precarious financial position Hicks finds himself in.
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