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Tom Hicks posts

Texas Rangers owner in a world of financial trouble

Posted May 10th 2009 3:40PM by Zac Bissonnette (RSS feed)
Filed under: Business of Sports

Tom Hicks, the owner of the Texas Rangers baseball team and the Dallas Stars NHL franchise, has defaulted on a $525 million loan related to the teams.

Hicks has downplayed the importance of the default, saying that it's just a bargaining tactic to bring the lenders back to the bargaining table to negotiate better terms. But industry experts tell The Associated Press that that's unlikely to be the full extent of it. A default on a loan is usually a sign of serious financial problems, but analysts think that Hicks has enough equity in his teams to maintain control -- even if he does end up selling minority stakes to outside investors.

Continue reading Texas Rangers owner in a world of financial trouble

Private equity's Tom Hicks has a SPAC attack

Posted Jun 15th 2007 12:15PM by Tom Taulli (RSS feed)
Filed under: Apple Inc (AAPL), Private Equity, Citigroup Inc. (C)

Thomas Hicks has been in the private equity business for about 35 years and is the cofounder of Hicks, Muse, Tate & Furst (he left in 2004). He also owns the Texas Rangers.

So his next big thing? Like Blackstone, he's going to the public markets and raising capital through a so-called "blank check" vehicle (known as a SPAC). Basically, this means he can buy whatever company he wants.

While this sounds dicey, investors are likely to trust the instincts of Hicks. In fact, it looks like he may raise about $400 million.

Over the years, there have been quite a few filings of blank-check offerings. And some have include high-profile people, such as Apple Inc.'s(NASDAQ: AAPL) co-founder, Steve Wozniak.

The underwriter on Hick's deal is Citigroup (NYSE: C) and the proposed ticker is "HICK-U."

You can find the IPO filing at the SEC Web site.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.