Pro Baseball News

Hicks' holding company defaults on loans (AP) (sports.yahoo.com)

The company that owns baseball's Texas Rangers and hockey's Dallas Stars has defaulted on about $525 million in loans. Owner Tom Hicks said Friday he intentionally did so to help negotiate with banks. He told The Associated Press the teams won't be affected. His holding company, Hicks Sports Group, didn't pay an interest payment on syndicated bank loans.