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Multi-event sport surges in popularity Chrissie Wellington of Great Britain rolls over the finish line to claim victory in the 2008 Ironman World Championship in Kailua-Kona, Hawaii. Topix.netHicks says creditors won`t get Rangers, Stars after reported default By ANDREA AHLES and RANDY GALLOWAY Hicks Sports Group, which owns the Texas Rangers and Dallas Stars, has failed to make an interest payment on $525 million in loans, according to a report Friday morning.A financial website, FINalternatives, cited a source who said Hicks defaulted on a $350 million bank term loan, a $100 million second-lien loan and a $75 million revolving credit facility.Dallas investor Tom Hicks, who runs the professional baseball and hockey teams through Hicks Sports Group, announced earlier this week that he’s looking to sell up to 46 percent of his 95 percent stake. In an e-mail Friday morning to the Star-Telegram, he responded to the published report that the teams were in default.'There is no possibility of banks owning the teams,' Hicks wrote. 'I am working closely with both leagues to find quality partners that share my long term vision of building these two great franchises. I will continue to fund the teams’ operations. I am the largest creditor Star TelegramAnything less than a title equals disappointment for UNC North Carolina is good. But the Tar Heels need to be great and to do that, they must get to the national title game and win. If not, this talented team will be known for its failure, Gary Parrish says. CBS NewsThe Firms Wave A Great New Piece Of Exercise Equipment A new piece of equipment to the exercise market is the Firm Wave which can be used both in the gym and in the comfort of your own home The design of the Firm Wave is uncomplicated but clever; it is a small unit that can be carried easily and put away practically anywhere One side of the Wave is stable and the other isn't Article GallerySwimmers tear up pool to qualify for Rome Michael Jack is ready to knock off New Zealand's greatest ever swimmer.Jack and Andrew McMillan have qualified for July's world championships in Rome after setting qualifying times in the 200 metres f... bignewsnetwork.comFagan challenges Tergat in Dublin Emerging Irishman Martin Fagan will hope to upset Paul Tergat in Sunday's Great Ireland Run in Dublin. BBCBarloworld all set for Ronde (Own Correspondent) The Tour of Flanders, or the Ronde Van Vlaaderen as it is known in Belgium, includes 16 nasty climbs, sections of pave, wind and totally unpredictable weather. They are the perfect ingredients for one of cycling's true great races, one of the so-called five monuments of the sport. Cycling NewsWendell breaks Bronco hearts Brisbane 12 St George Illawarra 25WAYNE Bennett's return to Brisbane as the new face of the enemy may have created all the headlines in the lead-up to last night's match, but when the match was on the line, one of the game's greatest showmen stepped up to centre stage. The AustralianBarel heads up classy DH field (Own Correspondent) Former two-time world champion, Fabien Barel (Subaru) of France and former World Cup champion, Tracy Moseley (Trek) of Great Britain, top the early entry list for Round 4 of the MTN National Cup Downhill Mountain Bike series, in association with MiWay, which takes place in Pietermaritzburg on Sunday. Cycling NewsReport: Hicks Sports Group defaults on loans By Andrea Ahles and Randy Galloway Hicks Sports Group, which owns the Texas Rangers and Dallas Stars, has failed to make interest payments on $525 million in loans, according to a report Friday morning.A financial website, FINalternatives, cited a source who said Hicks defaulted on a $350 million bank term loan, a $100 million second-lien loan and a $75 million revolving credit facility.Dallas billionaire Tom Hicks, who runs the professional baseball and hockey teams through HSG, announced earlier this week that he was looking to sell up to 46 percent of his 95 percent stake. In an e-mail Friday morning, he responded to the news that the teams were in default.'There is no possibility of banks owning the teams,' Hicks said. 'I am working closely with both leagues to find quality partners that share my long term vision of building these two great franchises. I will continue to fund the teams' operations. I am the largest creditor to HSG and need 51 percent of the banks to agree with my Star Telegram1 2 |
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