Comments on: Club Officials Go Silent Over Chatter Major League Baseball Has Loaned Texas Rangers Money

By: HubZ

HubZ — Wed, 15 Jul 2009 14:32:07 +0000

HICKS~ yes, it’s called being “incorporated”… it protects his personal assets, duh! His budgets for his sports teams are hurting with cash flow. In other words, he needs to fill seats. His business approach seems steady(USA), but his rapport with fans are out of touch. He has a way of stepping on his own tongue in press. He seems to shy from, “Build it, they will come” mentality. The opposite seems more in reality. Not fan friendly, Mr. Hicks. Rangers need a B-12 shot and visionary leadership… untie the ropes that bind. Daniels and Ryan can only do so much, with a cracker jack payroll. Now go water your lawn TH & dream of a “Croquet League” in your own backyard. Can you imagine a $20mm grounds keeper being the catalyst? Oh my, now what to charge best friends at your $45mm homes gate? Don’t forget the Patio Furniture “Best Sale” at CHAIR KING in Plano… see Ron.

By: Hicks comeuppance

Hicks comeuppance — Fri, 03 Jul 2009 12:47:34 +0000

Hicks has saddled all the 3 franchises with a ton of debt. They are all up for sale but each one is for sale at much more than market value – he cannot sell for any less because it does not cover the debt. In other words, he’s between a rock and a hard place. His leveraged kingdom is crumbling while he has his personal assets ring fenced and untouchable.

By: Jon

Jon — Fri, 03 Jul 2009 01:47:38 +0000

My point is this.

There is no way that this team with this payroll with this attendance should have to borrow to make payroll.

I am a long-time CFO. I have a feel for this stuff.

So if it isn’t operations what does that leave?

Knowing Hicks the only answer is debt.

I have no detailed knowledge of what is leveraged against what, but that has to be the root of the problem.

I love the way the rich dude is “prettying up” the rangers by firing a bunch of people in order to make the cash flow look better to some prayed for buyer. Like they aren’t going to look at longitudinal data.

I just hope that Nolan gets them.

Soon.

By: A nonymous

A nonymous — Thu, 02 Jul 2009 21:32:54 +0000

I know for a fact that things have been odd for awhile. Speaking to the previous comment regarding CJ having to deposit his check, HSG randomly switched banks after a long relationship with Chase, and still distribute paper checks to everyone. There is still no direct deposit, and people were told to expect that for forseeable future.

By: franco

franco — Thu, 02 Jul 2009 19:34:31 +0000

Jon, you wrote
“Basically I suspect that he has looted the organization by taking cash and leaving the Texas Rangers holding the debt for his most recent acquisiton on the othe side of the pond.”

You may wanna go look up what Hicks has done w/ Liverpool since he took over because he’s basically ladled the club with so much debt that really all the club has going for it is it’s name. Failure to qualify for the European Champions league would be a disaster for them and for Hicks.

Hicks should not be running a sports franchise anywhere.

By: Hicks in hock

Hicks in hock — Thu, 02 Jul 2009 17:50:47 +0000

[...] The Rangers’ financial woes continue: Amid increased internet chatter Wednesday that Tom Hicks’ sports group – Hicks Sports Group – financial woes are deepening and that the club has borrowed money from MLB’s rainy-day fund, team officials took a strange approach. [...]

By: Did Rangers have to borrow money from MLB to make payroll?

Did Rangers have to borrow money from MLB to make payroll? — Thu, 02 Jul 2009 17:07:13 +0000

[...] of Rangerfans, who went home after hearing the segment and blogged about what was said. From there, Evan Grant of D Magazine and Maury of Brown from The Biz of Baseball sprang into action and reported a flurry of no [...]

By: Rossometown

Rossometown — Thu, 02 Jul 2009 16:57:50 +0000

Rick, I like what the express has done here, but JD started the plan and Nolan backed it when he got here, it wasn’t Nolan’s great plan. He started out with fan relations and what not and then after seeing what was going on did he start giving his opinions on baseball relations.

By: Dallas Blog, Daily News, Dallas Politics, Opinion, and Commentary FrontBurner Blog D Magazine » Blog Archive » Hicks Sports Group Borrows $15 Million From MLB

Thu, 02 Jul 2009 16:51:42 +0000

[...] Grant has the scoop on the Rangers’ off-the-field efforts to keep the ship sailing. FrontBurner® [...]

By: Fred

Fred — Thu, 02 Jul 2009 16:22:58 +0000

@Beer Guy-
I, too, am very concerned–especially with 2 over slot top draft choices and the Latin players dangling.