Hicks asks MLB for bailout

It appears as if the Texas Rangers, and by extension, the Dallas Stars are in a financial pickle.

It was reported on Yahoo News earlier today that Rangers' owner Tom Hicks had to borrow $15 million from Major League Baseball to, "meet financial obligations."

Neither Hicks or any front- office personnel would comment on the Rangers financial woes, but a MLB source speaking on the condition of anonymity said that, "He [Tom Hicks] won't be running the team much longer."

The surprise announcement comes a few months after it was revealed that Hicks Sports Group defaulted on a $525 million loan, and thus an announcement was made by Hicks that he was looking to sell his baseball club.

So what does this mean for the Rangers and the Stars?

For the Rangers who are already in the bottom third of player salaries, it likely means that they will not make any major moves to bring in a big ticket player before the trade deadline, thus making it harder to compete for a long awaited playoff berth.

Another year of the Rangers looking outside the playoff bubble will continue to erode the Rangers' fan base, which is already fed up with Hicks.

Bottom line... this could do some serious damage to the organization in the long run if they don't get sold quickly.

As for the Dallas Stars...

Well, they are in the unusual spot of not spending up to the cap as they have in previous years, and it is widely reported that the Stars have set an internal budget of $46 million.

After the second day of free agency, the Stars watched other teams pick up some marquee names, while Dallas made a small move picking up veteran d-man, Karlis Skrastins, and resigning Stars' lifer Jere Lehtinen to an incentive laden one year deal. They are still waiting on a decision on whether or not Swedish goalie Jonas Gustavvsson will sign with them, or go to Toronto.

With such a tight budget, it is difficult to imagine that the Stars will be able to re-sign Sergei Zubov.


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Texas Rangers by the numbers according to Forbes:

Texas had the 15th highest revenue in the MLB in 2008, raking in $176 million in revenue.

Current team value: $405 million (Hicks purchased the team in 1998 for $250 million)

Operating Inc: $17.4 million

Player Expenses: $91 million

Gate Receipts: $36 million


All values/graphics according to Forbes
http://www.forbes.com/lists/2009/33/baseball-values-09_Texas-Rangers_337656.html