Liverpool owner makes u-turn on US$600 million sale
18 August 2009 | By James Emmett
Liverpool co-owner Tom Hicks appears to have made a u-turn in his quest to sell his Texas Rangers MLB franchise.
Hicks has been trying to sell the franchise since he was forced to dissolve the Hicks Sports Marketing Group at the beginning of July but a buyer for the US$600 million-valued majority stake in the baseball team has been unforthcoming.
Hicks' financial woes were such that Major League Baseball is reported to have made US$15 million available to the Rangers to help pay operating costs, including player wages.
Speaking on Sunday after attending a Rangers win over Boston game, however, Hicks now seems determine to hold on to the vastly improving team.
There is a way [to keep the team], and I’m working on that," Hicks said. "So we’ll see."
Indeed, Hicks dismissed out of hand the notion that his financial situation was such that he had to sell immediately. Let’s not talk about that. We’re not going to talk about that," Hicks said. "I’ve always said I hoped to stay involved in a significant way with the Rangers because I want to be here to watch this plan finally happen."
George Gillett, co-owner of Liverpool with Hicks, recently agreed to sell his Montreal Canadiens NHL franchise for more than US$500 million.