How Bad of Shape is Tom Hicks In?

According to Murray Chass, pretty bad:

With 99.99 percent certainty, it won’t be Hicks. “The banks and baseball would never accept him,” said the person who knows Hicks. “And he has no money. He hasn’t been paying the players. Major League Baseball has.”

Hicks has not paid interest on his bank loans since March, thus triggering a higher rate of interest. It is estimated that he owes $600 million. “Every day he waits he’s paying interest on $600 million,” said the person who knows Hicks. “He’ll never get any equity out of this. He needs about $700 million to get out of this.”


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