From Hill Country News, April 9, 2009...
The Cedar Park Center is still well under way to be completed in September and the Texas Stars will still be making their debut season in October despite the announcement that the Hicks Sports Group, which owns the Stars and has given $12 million toward the CPC, defaulted on loans.
The Cedar Park Center is still well under way to be completed in September and the Texas Stars will still be making their debut season in October despite the announcement that the Hicks Sports Group, which owns the Stars and has given $12 million toward the CPC, defaulted on loans.
Late last week, news hit that Tom Hicks, owner of the Texas Rangers baseball team and Dallas Stars defaulted on $525 million in loans - an intentional move to help with bank negotiations. According to FINalternatives, Hicks failed to make the interest payments on a $350 million bank-term loan, $100 million second-lien loan and a $75 million revolving credit facility.
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