Last Hicks Team To Be Sold

Nov 18 2011 | 2:29am ET

The final piece of private equity legend Tom Hicks' sporting empire is set to be sold off today.

The National Hockey League's Board of Governors has approved the sale of Hicks' Dallas Stars to Canadian businessman Tom Gaglardi. Gaglardi had already made peace with Monarch Alternative Capital, which took over the Hicks Sports Group in the wake of its default on $525 million in debt.

The prepackaged bankruptcy plan submitted by Monarch is expected to be approved by a judge today.

Monarch wreaked havoc on Hicks' plans to sell the Texas Rangers baseball team. Hicks has also been forced to sell his interest in British soccer team Liverpool Football Club.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of