Author Topic: Liverpool owner Hicks selling Texas Rangers shares  (Read 221756 times)

Offline Seantheprawn

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #800 on: April 19, 2009, 08:42:56 PM »
It's infuriating isn't it. Yet most bankruptcies in the states are caused by not being able to pay medical bills after a severe illness, and of course bush et al ( hicks ) changed the rules of this kind of bankruptcy so that people can't start with a clean slate like Hicks and his ilk Still can, but have to spend the rest of their lives having their wages "garnished". SICK. SICK. SICK. I think maybe because they write the economic rules, own the media that then ridicules anyone who disagrees and who maintain the "frame", and generally slant the whole game in order to maintain their nonsense in the name of "freedom".....and anyone who argues against them is therefore against freedom, by the definition of the frame that they maintain cos they own the media that first describes the frame. Kafka is alive and well and living in texas.

Couldn't agree more! There is a very interesting read should anyone have a couple of days spare; called "Why do people hate America" by Ziauddin Sardar and Merryl Wyn Davies. http://www.amazon.co.uk/s/ref=nb_ss_b?url=search-alias%3Dstripbooks&field-keywords=why+do+people+hate+america&x=0&y=0

It doesn't center around your average Joe but looks at what America does to other countries by forcing it's hand and making it out under the guise of a "free market". It's only a free market if it's more or less free to the U.S. In many very fundamental ways this IS as a result of US foreign policy and the way in which the cultural artefacts (i.e movies, music) that they export reinforce an often offensive image of 'white is right' and 'might is right'. Page after page I found myself murmuring "....the bastards, THE BASTARDS !! How can they do that?" Read it - you'll understand.  "Reefer Madness: ...and Other Tales from the American Underground" by Eric Schlosser is also a goody ;)

HL / 666 - you guys make me go all bashful and unnecessary - I just want to go out and hug everyone. "GROUP HUG EVERYONE!!!! C'mon - e-v-e-r-y-b-o-d-y put down your keyboards........4pool put your bestial niff mag down for a second mate will ye......AND HUG THE MONITOR. Feel the warm incandescence and pretend it's everyone else on the other end of the superinformation highway" Ooooer behave.... You'll get me in trouble!
« Last Edit: April 19, 2009, 08:53:34 PM by Seantheprawn »
WHEN BUSH WAS TALKING ABOUT  "THE EVIL DO-ERS OF THIS WORLD" HE WAS TALKING ABOUT OUR PREVIOUS SHITE-ARSED CUSTODIANS!!
THE SO-CALLED "AXIS OF EVIL" IS FOUND ACROSS THE FURROWED BROW ON HICKS' FAT HEAD.

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Offline No666

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #801 on: April 19, 2009, 10:34:24 PM »
Ooh I feel much better for that.

Offline manifest

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #802 on: April 19, 2009, 11:41:51 PM »
Couldn't agree more! There is a very interesting read should anyone have a couple of days spare; called "Why do people hate America" by Ziauddin Sardar and Merryl Wyn Davies. http://www.amazon.co.uk/s/ref=nb_ss_b?url=search-alias%3Dstripbooks&field-keywords=why+do+people+hate+america&x=0&y=0

It doesn't center around your average Joe but looks at what America does to other countries by forcing it's hand and making it out under the guise of a "free market". It's only a free market if it's more or less free to the U.S. In many very fundamental ways this IS as a result of US foreign policy and the way in which the cultural artefacts (i.e movies, music) that they export reinforce an often offensive image of 'white is right' and 'might is right'. Page after page I found myself murmuring "....the bastards, THE BASTARDS !! How can they do that?" Read it - you'll understand.  "Reefer Madness: ...and Other Tales from the American Underground" by Eric Schlosser is also a goody ;)

HL / 666 - you guys make me go all bashful and unnecessary - I just want to go out and hug everyone. "GROUP HUG EVERYONE!!!! C'mon - e-v-e-r-y-b-o-d-y put down your keyboards........4pool put your bestial niff mag down for a second mate will ye......AND HUG THE MONITOR. Feel the warm incandescence and pretend it's everyone else on the other end of the superinformation highway" Ooooer behave.... You'll get me in trouble!

thanks Sean....I'm going to write the sequel: "why do people hate Hicks."  ;D the same kind of cultural imperialism is what he brought to his ownership of liverpool.

glad to see your still a'lurking.  :wave

Offline coffeehead

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #803 on: April 20, 2009, 12:30:07 AM »
Seantheprawn is a legend in his own lifetime. :)


Offline Mad Men

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #804 on: April 20, 2009, 04:12:40 AM »

I wish we wouldn't associate "why we hate americans" with hicks. Not all americans are like him and not all americans like the man either.

This is what we do. And we do it very well. Link: http://www.youtube.com/watch?v=5bM8gOyjeuc

Offline lfctitch

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #805 on: April 20, 2009, 08:15:26 AM »
I wish we wouldn't associate "why we hate americans" with hicks. Not all americans are like him and not all americans like the man either.



I don't think anyone on these boards would disagree with you. There is very little anti-Americanism, which is lucky considering the past president, and the crap we've faced with Americans

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #806 on: April 20, 2009, 09:15:02 AM »
I wish we wouldn't associate "why we hate americans" with hicks. Not all americans are like him and not all americans like the man either.

I think tom hicks embodies the stereotype of america (Greedy, brash, selfish, fat, annoying, conecending, stupid etc). Its sad really as america is a wonderful place with so many wonderfull people.



Disclaimer: The above post may not be based on facts even if stated as fact.

Offline Seantheprawn

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #807 on: April 20, 2009, 10:11:04 AM »
I wish we wouldn't associate "why we hate americans" with hicks. Not all americans are like him and not all americans like the man either.



No, you're right SS, I quite agree with you, Fry and titch. But that wasn't the angle I was coming from -  merely contextualising from the book, moreover the "Why do people..." book goes into detail about what these so-called big U.S companies and their respective executives' (and in this particular scenario we can add Hicks to that equation) do to someone small who has something the aforementioned want. Bleed them dry and heed them underfoot ......and when it all starts going wrong or they no longer see it as something that generates vast sums of capital they simply pull out and leave the initial ordinary folk with NOTHING. Those same companies do it in their own back yard - read 'Fast Food Nation'; it may ultimately be about Burgers and Fries - the U.S' biggest grossing industry but it clearly indicates what goes on at the lowest level - the farmers who once owned their land and the workers who aren't insured medically by the company they work for if they have an accident. This goes on on a massive scale across the States all for a profitable turnover. Unfortunately most are subliminally blinded by what goes on. Stick a nice guy in a clown suit (Parry anyone?), paint a whacking great big happy smile on his face and tell him to go out and sell something....and watch the punters roll in!
WHEN BUSH WAS TALKING ABOUT  "THE EVIL DO-ERS OF THIS WORLD" HE WAS TALKING ABOUT OUR PREVIOUS SHITE-ARSED CUSTODIANS!!
THE SO-CALLED "AXIS OF EVIL" IS FOUND ACROSS THE FURROWED BROW ON HICKS' FAT HEAD.

Twitter: @seanmck75

Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #808 on: April 20, 2009, 11:25:16 AM »
Any involvement with Epigenetics? That's what my daughter is doing her Phd in?

No direct link no, but any work they do and studies they do can help and affect what we do, but we are looking currently at single molecules and their structure and structure change, rather than looking at their function and functional change.

We are however attempting to link the two.

Where is she doing it?

Offline shelovesyou

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #809 on: April 20, 2009, 11:30:36 AM »
Are we there yet ?
the easiest way for me to grow as a person is to surround myself with people smarter than I am

Offline No666

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #810 on: April 20, 2009, 11:35:33 AM »
No, the gut buckets still own us so we're discussing the molecular structure of cells and having a group hug - the way one does.

Offline shelovesyou

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #811 on: April 20, 2009, 11:41:35 AM »
No, the gut buckets still own us so we're discussing the molecular structure of cells and having a group hug - the way one does.

Of course  ;D

Im going to watch the Liverpool / Man Utd game again to cheer myself up I think . . .
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Offline southern scouse

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #812 on: April 20, 2009, 11:44:32 AM »
No, the gut buckets still own us so we're discussing the molecular structure of cells and having a group hug - the way one does.

 ;D ;D ;D

Hit the tickle bone that did.

between SE, SP, Fry this thread is in threat of becoming really intellectual, and for a Monday morning, come on guys stop it please.


Online HarryLabrador

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #813 on: April 20, 2009, 12:03:48 PM »
No, the gut buckets still own us so we're discussing the molecular structure of cells and having a group hug - the way one does.

It is very refreshing hearing from you again Sean and No666, this group hug does warm the cockles as they say :D.

Back to Hicks, his SPAC company Hicks Acquisition is fast fading. This could explain that joint legal document issued earlier in the year between Hicks and Blackstone Group, that they are each entitled to act as separate entities regarding the future ownership of Graham Packaging. One would assume Hicks would have to return much of the $540m to the private investors.The clock for Hicks continues to tick.

For those of you with much time on your hands, here is that document.
http://www.blackstone.com/news/press_releases%5C1-28-2009.pdf

=================================================================
Economic downturn shrinks fortunes of Dallas area's super rich

11:14 PM CDT on Sunday, April 19, 2009
By BRENDAN M. CASE and GARY JACOBSON/ The Dallas Morning News

..edited

Buyout pioneer and sports team owner Tom Hicks was a partner with Hillwood in those Victory buildings, but he sold his one-third interest to Hillwood three years ago when the German investors became involved.

Separately, Hicks has delayed plans for the Glorypark development in Arlington. He also says he's open to selling large minority stakes in both the Rangers and the Stars in an effort to diversify his investments and reduce debt. He's negotiating with his lenders after the teams' default on $525 million in debt earlier this month.

He is also trying to refinance his Liverpool FC soccer team he owns half and find the money to build a new stadium there. Hicks and his partner in the Liverpool deal, George Gillett, are trying to refinance about $360 million.

His so-called blank-check company, Hicks Acquisition, warned in a recent regulatory filing that it may not complete a previously announced deal for Graham Packaging, or any other deal, before a Sept. 28 deadline.

At that time, the blank check company, which held $540 million in trust at the end of 2008, must cease existence and begin liquidating. Asked if he was confident a deal would get done, Hicks said he couldn't comment beyond the filing.

....

http://www.dallasnews.com/sharedcontent/dws/news/localnews/stories/042009dnbusbillionaires.3e1b276.html
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Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #814 on: April 20, 2009, 12:05:30 PM »
It is very refreshing hearing from you again Sean and No666, this group hug does warm the cockles as they say :D.

Back to Hicks, his SPAC company Hicks Acquisition is fast fading. This could explain that joint legal document issued earlier in the year between Hicks and Blackstone Group, that they are each entitled to act as separate entities regarding the future ownership of Graham Packaging. One would assume Hicks would have to return much of the $540m to the private investors.The clock for Hicks continues to tick.

For those of you with much time on your hands, here is that document.
http://www.blackstone.com/news/press_releases%5C1-28-2009.pdf

=================================================================
Economic downturn shrinks fortunes of Dallas area's super rich

11:14 PM CDT on Sunday, April 19, 2009
By BRENDAN M. CASE and GARY JACOBSON/ The Dallas Morning News

..edited

Buyout pioneer and sports team owner Tom Hicks was a partner with Hillwood in those Victory buildings, but he sold his one-third interest to Hillwood three years ago when the German investors became involved.

Separately, Hicks has delayed plans for the Glorypark development in Arlington. He also says he's open to selling large minority stakes in both the Rangers and the Stars in an effort to diversify his investments and reduce debt. He's negotiating with his lenders after the teams' default on $525 million in debt earlier this month.

He is also trying to refinance his Liverpool FC soccer team he owns half and find the money to build a new stadium there. Hicks and his partner in the Liverpool deal, George Gillett, are trying to refinance about $360 million.

His so-called blank-check company, Hicks Acquisition, warned in a recent regulatory filing that it may not complete a previously announced deal for Graham Packaging, or any other deal, before a Sept. 28 deadline.

At that time, the blank check company, which held $540 million in trust at the end of 2008, must cease existence and begin liquidating. Asked if he was confident a deal would get done, Hicks said he couldn't comment beyond the filing.

....

http://www.dallasnews.com/sharedcontent/dws/news/localnews/stories/042009dnbusbillionaires.3e1b276.html

if thats a direct quote, or a factual one it could be a very telling moment

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #815 on: April 20, 2009, 12:47:32 PM »
if thats a direct quote, or a factual one it could be a very telling moment
Its not like hicks not to comment, something must be up. 
Disclaimer: The above post may not be based on facts even if stated as fact.

Offline will2003

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #816 on: April 20, 2009, 12:48:07 PM »
A little late for us but interesting to see if it happens..

http://www.metro.co.uk/sport/football/article.html?MPs_warn_Liverpool_and_United_to_curb_ludicrous_debts_after_year-long_inquiry&in_article_id=627029&in_page_id=43

English football could face meltdown, warn MPs after year-long inquiry

A parliamentary report has accused heavily indebted Premier League clubs Manchester United, Chelsea and Liverpool of engaging in 'financial doping'.
In 27 recommendations at the end of a yearlong inquiry, legislators urged England's football authorities to curb ;ludicrous levels of borrowing; and the use of profits to service large debts.

The All Party Parliamentary Football Group is calling for heavy scrutiny of business plans ahead of any club takeovers, echoing the agenda of world governing body FIFA.

The group also backed FIFA's 'six-plus-five rule' that would impose limits on foreign players, urging the British government to lobby the European Union to overlook its treaties on free movement.

The key warning in the report is that while football appears to be weathering the initial impact of the recession, the meltdown in the markets that has claimed major financial institutions operating risky business models should serve as a warning to the clubs.

'The financial world has learnt a serious lesson in the last year that living by the old adage, 'If it ain't broke, don't fix it' can lead to catastrophic results,' said governing Labor Party legislator Alan Keen, who chaired the inquiry.

'There is a real danger that English football could go the same way. Corrective action needs to be taken now to address serious weaknesses in the governance of the game as well as severe financial imbalances.

'Lack of proper governance and financial instability are the two fundamental vulnerabilities to the success that English football has enjoyed in recent times. Our report includes tough measures to improve the way the game is run and to combat 'financial doping' whereby short term success can be bought at the expense of long term financial stability.'

Key reccomendations


- strengthening the 'Fit & Proper Persons Test' including that prospective new owners cannot leverage debts on the club for their takeover.

- loans by owners or directors to their clubs also be considered debt leveraging.

- testing the financial fitness of new owners' business plans.

- strengthening the Football Regulatory Authority and make the body responsible for the adjudication of reformed 'Fit and Proper Persons Test'.

- introduction of a licensing system along UEFA lines for all clubs from the Conference upwards including clubs' expenditure being limited by revenue.

- appointment of more independent members on the FA Board, the Premier League board and the Football Regulatory Authority.

- fans' representatives elected to the boards of all 92 Football League and Premier League clubs; - introduction of FIFA's 6+5 rule into English football to help nurture domestic talent.

"We gave the fans their pride - again. We fought for the fans, we fought for the club and we fought for our players." - Legend

Offline west_london_red

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #817 on: April 20, 2009, 12:48:13 PM »
Of course  ;D

Im going to watch the Liverpool / Man Utd game again to cheer myself up I think . . .

which one? ;D

Offline caronia

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #818 on: April 20, 2009, 01:29:35 PM »
No direct link no, but any work they do and studies they do can help and affect what we do, but we are looking currently at single molecules and their structure and structure change, rather than looking at their function and functional change.

We are however attempting to link the two.

Where is she doing it?


She's at Durham.

Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #819 on: April 20, 2009, 01:32:19 PM »

She's at Durham.

Ah fair enough, wont have bumped into her then when over in the Bio labs

Good luck to her for it

Offline caronia

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #820 on: April 20, 2009, 01:53:26 PM »
Ah fair enough, wont have bumped into her then when over in the Bio labs

Good luck to her for it

You're at Durham too?
« Last Edit: April 20, 2009, 01:59:21 PM by caronia »

Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #821 on: April 20, 2009, 01:58:49 PM »
You're at Durham too?

no, Liverpool, if i was at Durham i might have

Offline No666

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #822 on: April 20, 2009, 02:00:48 PM »
Guys, I know not a lot is going on with Liverpool owner Hicks's attempts to sell Texas Rangers shares et al but do you two want to pm each other on the strictly off-the-topic personal stuff?

Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #823 on: April 20, 2009, 02:04:23 PM »
Its not like hicks not to comment, something must be up. 

thats what I mean, it is a very odd answer and, as i read it, shows a lot of weakness, when there would have been many better ways to answer the question and show less weakness....

Offline caronia

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #824 on: April 20, 2009, 02:08:12 PM »
no, Liverpool, if i was at Durham i might have

Good luck to you too.
She is in the first year of her Phd and enjoying it hugely.
For fear of being told to bring the subject back to football,I think we should leave the merits of further educations at this point.  ;)

Offline Something Else

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #825 on: April 20, 2009, 02:12:33 PM »
Good luck to you too.
She is in the first year of her Phd and enjoying it hugely.
For fear of being told to bring the subject back to football,I think we should leave the merits of further educations at this point.  ;)

Indeed, this thread needs to get back to speculation on speculation otherwise people may miss writing crap ;)



Any direct comments from the yanks on Kenny.

Also, any ITK's on the yanks know any important dates coming up?

Anyone actually know anything concrete?

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #826 on: April 20, 2009, 02:14:19 PM »
that's what I mean, it is a very odd answer and, as i read it, shows a lot of weakness, when there would have been many better ways to answer the question and show less weakness....
exactly, we all know he is an accomplished liar so why admit uncertainty unless he is very close to folding his hand.
Disclaimer: The above post may not be based on facts even if stated as fact.

Offline west_london_red

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #827 on: April 20, 2009, 02:25:57 PM »
You're at Durham too?


You trying to hook your daughter up with Something else? ;D

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #828 on: April 20, 2009, 02:28:36 PM »
You trying to hook your daughter up with Something else? ;D
lol
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Offline No666

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #829 on: April 20, 2009, 02:28:45 PM »
Why would he be unable to complete that deal, I wonder? He has the money because it has to be held in trust, no? It's very odd. And all these reports must weaken him substantially in the eyes of RBS/Wachovia/other sources.

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #830 on: April 20, 2009, 02:31:05 PM »
Why would he be unable to complete that deal, I wonder? He has the money because it has to be held in trust, no? It's very odd. And all these reports must weaken him substantially in the eyes of RBS/Wachovia/other sources.
I think it has gotten to the point where hicks and gillettes futures at the club will come to an end in the summer.  Not I'm starting to worry more about who will buy us. 
Disclaimer: The above post may not be based on facts even if stated as fact.

Online HarryLabrador

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #831 on: April 20, 2009, 03:03:13 PM »
Why would he be unable to complete that deal, I wonder? He has the money because it has to be held in trust, no? It's very odd. And all these reports must weaken him substantially in the eyes of RBS/Wachovia/other sources.

I don't know what has gone wrong for Hicks with this deal, but the actual purchase price of Graham Packaging is $3.2 billion. There were plans to go public through the $3.2 billion transaction with Hicks Acquisition in partnership with the Blackstone Group and the Graham Group. That has not happened and according to reports will not. This is obviously the biggest deal Hicks has been involved in, I believe. I am posting the original article in June 2008 when the acquisition was first reported and you can see there is a great deal more money required.

---------------------------------------------------------------------------------

Monday, June 30, 2008
Hicks Acquisition to buy Graham Packaging in $3B deal
Dallas Business Journal

Hicks Acquisition Co. Inc., a special purpose acquisition company founded and headed by Tom Hicks, is buying Graham Packaging Holdings Co. and partnering with The Blackstone Group and Graham Group to take the company public in a deal worth $3.2 billion.

Dallas-based Hicks Acquisition said the deal is the largest ever between a special purpose acquisition company and an industrial company.
 
The combined enterprise will be renamed Graham Packaging Co. and will apply for listing on the New York Stock Exchange.

Under the agreement, stockholders of Graham Packaging will receive $350 million of cash held in trust, 35 million common shares and 2.8 million warrants. The purchase consideration includes a transfer of value to the current Graham equity holders of 2.8 million founder's shares and warrants. In exchange, the Hicks-led sponsor will retain earnout units, the shares of which have a trigger price of $13.75 and the warrants of which will become exercisable at a strike price of $10 and a trigger price of $15.

After the transaction is completed, Hicks and Hicks Acquisition's (Amex: TOH) stockholders will own 66 percent of Graham's common shares. Current Graham equity holders, led by Blackstone, will remain the company's largest shareholder, with 34 percent of the common shares outstanding. Blackstone (NYSE: BX) has agreed to maintain the largest ownership stake for at least two years and guide the company strategically and operationally.

The existing management, including Chairman and Chief Executive Warren Knowlton and Chief Operating Officer and Chief Financial Officer Mark Burgess, will continue to lead the company.

Founded in 1972, York, Penn.-based Graham Packaging makes plastic containers used for juice drinks, sports drinks, drinkable yogurt and smoothies, nutritional supplements, wide-mouth food, condiments, beer, liquid laundry detergent and motor oil. The company had sales of $2.5 billion in 2007 and operates 83 manufacturing plants in North America, Europe and South America.

"With the support of our new ownership group and our strong free cash flow from operations, we will continue to invest in and grow our business, pay down debt, accelerate our earnings growth, and meet the needs and expectations of our employees, customers, suppliers and stockholders," Knowlton said in a statement.

"After considering more than a hundred possible transactions, we're tremendously pleased to have identified Graham Packaging as the right transaction for Hicks Acquisition, and to be partnering with Blackstone, whose senior partners I have had close business relationships with for many years, and the other Current Graham Equity Holders," Hicks said.

The deal is expected to close later this year, subject to clearing antitrust regulations and Hicks Acquisition stockholder approval.

Hicks Acquisition was launched in October 2007 in an initial public offering that was at the time, at $552 million of gross proceeds, the largest special purpose acquisition company IPO. It was founded by Hicks for the purpose of acquiring, or acquiring control of, businesses or assets.

http://dallas.bizjournals.com/dallas/stories/2008/06/30/daily2.html
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Online HarryLabrador

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #832 on: April 20, 2009, 03:17:43 PM »
For what it's worth, there is an article from Sports Business Journal, which unfortunately requires a subscription fee, talking about a downgrading of Hicks' debt. The downgrading of  debt makes it more difficult for Hicks to obtain additional financing. This is all I have access to:


Hicks Sports debt was downgraded in 08, finance sources say

By DANIEL KAPLAN
Staff writer
Published April 20, 2009

A federal bank regulator last summer, before the credit markets imploded, downgraded the $515 million of debt carried by Hicks Sports Group, which owns the Texas Rangers and Dallas Stars, financial sources said, signaling that the problems at the financially troubled company predated last   :butt

http://www.sportsbusinessjournal.com/index.cfm?fuseaction=article.preview&articleid=62246
« Last Edit: April 20, 2009, 03:23:10 PM by HarryLabrador »
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Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #833 on: April 20, 2009, 03:33:15 PM »
For what it's worth, there is an article from Sports Business Journal, which unfortunately requires a subscription fee, talking about a downgrading of Hicks' debt. The downgrading of  debt makes it more difficult for Hicks to obtain additional financing. This is all I have access to:


Hicks Sports debt was downgraded in ’08, finance sources say

By DANIEL KAPLAN
Staff writer
Published April 20, 2009

A federal bank regulator last summer, before the credit markets imploded, downgraded the $515 million of debt carried by Hicks Sports Group, which owns the Texas Rangers and Dallas Stars, financial sources said, signaling that the problems at the financially troubled company predated last …  :butt

http://www.sportsbusinessjournal.com/index.cfm?fuseaction=article.preview&articleid=62246
Two week free trial..... lol  It sounds like this article is suggesting that hicks was struggling before credit crunch?
Disclaimer: The above post may not be based on facts even if stated as fact.

Online HarryLabrador

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #834 on: April 20, 2009, 03:39:15 PM »
Two week free trial..... lol  It sounds like this article is suggesting that hicks was struggling before credit crunch?

Yes, I signed up for it once, trial that is, and that has now lapsed.
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Offline west_london_red

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #835 on: April 20, 2009, 03:41:26 PM »
Fry, you might as well do the honours then and sign up ;)

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #836 on: April 20, 2009, 04:23:04 PM »
Fry, you might as well do the honours then and sign up ;)
ahh ok then.  If i get spammed  >:(
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Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #837 on: April 20, 2009, 04:29:05 PM »
ok signed up, wont let me login, im guessing there will be an activation e-mail sent.  Nothing in the inbox so its a waiting game now.
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Offline No666

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #838 on: April 20, 2009, 04:37:21 PM »
yeah, i just did the same thing - bloody irritating - and had to give them a US style phone number. Cultural imperialists!

Offline fry

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Re: Liverpool owner Hicks selling Texas Rangers shares
« Reply #839 on: April 20, 2009, 04:46:39 PM »
yeah, i just did the same thing - bloody irritating - and had to give them a US style phone number. Cultural imperialists!
i put in a mates mobile number and seemed to work.
Disclaimer: The above post may not be based on facts even if stated as fact.