Ryan: Hicks' Cash Problems Won't Affect Rangers
Rangers president says no restrictions are in place
By DAVID JIMENEZ and KEN SINS
Updated 9:30 AM CST, Sat, Jul 4, 2009
Texas team president Nolan Ryan said Friday that the club is not hamstrung by owner Tom Hicks' financial difficulties, a day after a report that Major League Baseball loaned millions to the team owner.
"There haven't been any restrictions put on us," Ryan said. "I just think as we get closer to the trade deadline, we'll see what we might be able to be put together. If we think it is in our best interest, then obviously we'll take it to Tom."
Yahoo! Sports, citing a major league source, reported Thursday a loan was made to Hicks Sports Group and that the amount was believed to be for less than $15 million.
Hicks said in May he was willing to sell controlling interest in the franchise. Earlier this year, Hicks Sports Group defaulted on $525 million in loans backed by the Rangers and the NHL's Dallas Stars, the other U.S. sports franchise Hicks owns.
Hicks was out of town and unavailable for comment. Texas vice president of communications John Blake said the team would not comment on the Yahoo! story.
"I don't expect to see anything happen during the course of the season," said Ryan, who has been rumored to be part of a group expressing interest in purchasing Rangers ownership. "If there's an ownership change, I think it'll be in the offseason or the spring. That will be my expectation."
Texas began the season with a payroll of $68.6 million, 22nd among the 30 big league teams.
The Rangers entered play Friday a game behind in the Los Angeles Angels in the American League West.
"I don't look into it much because it's not my problem," Texas reliever Eddie Guardado said. "I was told by a veteran player when I was young not to worry about the things you can't control."
Two years ago, Hicks combined with Montreal Canadiens owner George Gillett Jr. to buy Liverpool of the English Premier League through a different entity, Kop Football (Holdings) Ltd. It has been negotiating to refinance $574 million of debt before a July 24 deadline.
Gillett agreed last month to sell the Canadiens, the Gillett Entertainment Centre and the Bell Centre.
Copyright Associated Press
First Published: Jul 4, 2009 9:19 AM CST
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