Thursday, February 4, 2010
Stars getting 'For Sale' signs ready?
By Richard Durrett
Hicks Sports Group confirmed Thursday that it has hired a firm to explore the possibility of generating new investors or selling majority stake in the Dallas Stars.
We'll have a bunch of thoughts on this as the days, weeks and months continue, but a few quick ones:
* This is similar to what happened as Hicks Sports Group decided to sell the Rangers. But it differs in one key point: Hicks is saying off the bat that he's considering selling a majority stake in the club. On the Rangers deal, he tried to sell minority stake first. When no one was interesting in investing in the club without having control, Hicks decided to sell a majority stake. And he's in position to do that now with a deal in place with Rangers Baseball Express, Chuck Greenberg's group.
* It's remarkable to consider that Tom Hicks' tenure as a major sports owner in Dallas could be coming to a close. He could end up selling a minority stake in the Stars, but doesn't the same thing apply to the Rangers? Who would want to invest without control? To sell the Stars, you'd think Hicks would have to sell majority stake. Maybe he could end up with a minority share. With the Rangers, Hicks will have little to do with the club once it's sold. The same thing could happen with the Stars or he could end up with a little more. We'll see.
* We've talked all season about the Stars being in a tight budget. Clearly, that's still the case. But, like the Rangers, maybe a new owner would bring an infusion of cash that could allow the team to spend closer to the salary cap.
* Say what you want about Hicks, but he's been a good owner overall for the Stars. He spent big bucks to get key players and the Stars won a Stanley Cup on his watch. Missing the playoffs last year and not spending money this season can cloud the big picture. Overall, I think he's been good for this franchise.