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Dallas Stars’ Cash Problems

From Eric Morath in the Wall Street Journal:

The Dallas Stars hockey team was hemorrhaging cash in the years leading up to Thursday’s bankruptcy filing.

Over the past three years, the Stars lost $91.5 million and are projected to lose another $31 million during the season that starts next month, according to papers filed with the U.S. Bankruptcy Court in Wilmington, Del.

Those papers said the team has suffered financially since 2004, the year in which a season-long lockout of the players by the owners began.

To stem the bleeding, Stars owner Tom Hicks’s HSG Sports Group pumped $150 million into the team over the past 10 years, court papers said.

continued…

Filed in: NHL Teams, Dallas Stars, | KK Hockey | Permalink
  Tags: hsg+sports+group, tom+hicks

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

 

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