Posts Tagged ‘Tom Hicks

19
Jun
09

Bush Participates in Naming Ritual For Hicks’ Box

Bush1-thumb-547x410-1259791Former President George W. Bush stopped by to take in the Rangers/Astros battle for Texas last night. W, who prior to becoming Governor of Texas was the principal owner of the Rangers was honored before the game by current Rangers owner — and recent defaulter of loans leading him to seek out new partners to buy 49% of the team from him — Tom Hicks who renamed the owner’s box to the President George W. Bush Owner’s Box.

Prior to the game, Bush also visited the Astros clubhouse, stopping in to congratulate Ivan Rodriguez on setting the new record for all-time games caught. Rodriguez who was on the Rangers when W was in command gave the former C-in-C one of his bats from the record-setting game.

Another Astros player, pitcher Tim Byrdak asked Bush if he could get a hug, a request Bush granted, Byrdak then yelled out to his teammates, “And you said it couldn’t be done!”

Bush responded with, “Just as long as he didn’t kiss me.”

It’s times like this that remind me how if only Bush had become the Commissioner of baseball instead of Governor of Texas how much better this entire world would have been. It’s not often you can say you would have changed the world, but no Bush presidency would have made everything better. Sigh.

[Tag Lines]

07
Apr
09

Rangers’ Owner Defaults on Bank Loans

84579878It must be tough being Texas Rangers and Dallas Stars owner Tom Hicks, after all, he is only the 701st richest person in the world and that type of thing can really stick in your craw. So, maybe that’s the reason why his holding company, which controls the Rangers and Stars has defaulted on loans totaling $525 million.

Hicks insists the move was deliberate, as a business strategy to get the banks to change the lending agreements and provide access to reserve accounts and a revolving line of credit. He also said that the whole thing is a “nonevent for the teams, fans, sponsors and vendors.” Of course, this news comes after rumors that Hicks has been actively seeking selling as much as a 49% minority stake in both teams. “We are simply asking the lenders to be reasonable. “Hicks said in an issued statement, “They need to understand that these important assets must be managed with long-term perspective and a commitment to winning.” That’s an interesting strategy, one the Rangers have eschewed since about 1999…

[Bloomberg and Luxist]




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