Tom Hicks Broke: Dallas Stars are Next

Surprise, Surprise Tom Hicks has less money than he led on… again! Now it looks like ol’ Tom needs to either sell the Dallas Stars or at least find some investors. The comments coming out of the Hicks camp sound very similar to those made before the sale of the Rangers.

Anyway the city of Dallas is one step closer to the possibility of having its major sports teams not owned by someone whose talent seems to be losing money and running teams into the ground.

Tom Hicks was not all bad though, he did help build rinks in the Dallas area that have allowed hockey to grow in the Dallas Metroplex. However it is clear that some bad investment decisions are handcuffing his already limited ability as a professional sports team owner.

Here are few exerpts from Mike Heika writer for The Dallas Morning News article “Tom Hicks explores possible sale of Dallas Stars”

Tom Hicks has hired an investment group to study the sale of the Stars, Hicks Sports Group announced Thursday.

“While a sale is not a certainty, it is a possibility, and Mr. Hicks has received numerous inquiries about the team,” Stars president Jeff Cogen said.

What to take out of this is that no matter what Tom Hicks or anyone from the Stars or Hicks Sports Group says, a sale or at least some new investors is imminent. It is even my belief that the Dallas Stars are probably borrowing money from the NHL.

“With the separation and pending sale of the Rangers, the Stars have seasonal cash flow needs that are being advanced from time to time by our lenders,” Hicks said in an e-mail. “We are working closely with the NHL and our lenders to examine all of our alternatives.”

All of this sounds eerily similar to the events that led up to the sale of the Texas Rangers that is getting closer and closer to being final. Hopefully this the sale of the Dallas Stars can get done sooner than later so the team can address the defense and goaltending issues.