Sunday, 24th January 2010
Liverpool co-owner Tom Hicks has agreed to sell his controlling interest in baseball side Texas Rangers for a price of between $500-570M. All that remains is for the deal to be approved by the MLB and Hicks Sports Group’s creditors.
The news will no doubt be welcomed at Anfield as concerns grow about the debt loaded onto the Premier League club. The sale could allow Hicks to make good on his word that the summer transfer window "will be big" for Liverpool. Hicks joins fellow Liverpool co-owner George Gillett in having sold the sports team he owned when he took over the Premier League side.
Hicks position in the Anfield boardroom can only be strengthened by his sale of the Texas Rangers. He had been part of a group which purchased the baseball club in 1998 for $250M from an ownership team which included former US president George W Bush. The sale helps Hicks realise a substantial profit.
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