Kukla's Korner Hockey
by Paul on 08/17/09 at 11:42 AM ET
from Daniel Kaplan of the Dallas Business Journal,
The more than three dozen creditors of Hicks Sports Group, the owner of the Dallas Stars and Texas Rangers that defaulted on its debt in March, sent a letter to the NHL four weeks ago asking the league how it planned to help address their concerns, according to financial sources, but there has been no response.
At the same time, HSG owner Tom Hicks has suggested that he believes he can hold onto the Stars despite the default through August 2010, which is far later than the October deadline the creditors assumed existed for resolution of debt crisis, the sources said.
A process to sell the MLB Rangers is under way, but no such activities are believed to be occurring around the Stars. The situation could shape up as a major battle between the creditors on one side and the NHL and Hicks on the other.
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