Tom Hicks says he put $85 million of his own money into Hicks Sports Group to cover operating costs of the NHL's Dallas Stars and baseball's Texas Rangers over a two-year period through last March.
Hicks made that revelation Monday. It was his first public comment since Hicks Sports Group announced last week that it had retained Galatioto Sports Partners to seek new investors and a possible buyer of a majority stake in the NHL team.
An agreement was reached last month by Hicks Sports Group to sell the Rangers, a transaction that could be completed before the baseball season opens in April.
The personal loans by Hicks ended before Hicks Sports Group defaulted on $525 million in loans backed by the Stars and Rangers.
Copyright AP - Associated Press
