Liverpool co-owner Tom Hicks is inching toward selling his Major League Baseball franchise, Texas Rangers, in what appears to be a move to free up funds to ease the Reds’ financial concerns.
The Merseyside giants are heavily in debt; a situation that has hardly been helped by their on-field problems, in particular their early exit from the Champions League.
This latest development comes in light of Hicks and his partner, George Gillett, allegedly being denied entry into Anfield for the game against Arsenal last weekend.
Hicks has now reportedly selected a group from a number of bidders who were interested in buying his baseball team.
A statement on Texas Rangers’ official website reads: “Our family has chosen to negotiate with the group we believe will be best to protect and ensure the long-term positive future of this franchise.
“We understand that this is more than a transaction. You never really own a baseball team; you just have the right to be the trustee of a public institution.”
The Hicks family will reportedly retain a small share of the Rangers, and while no figures have been revealed, it has been speculated that the deal could be worth up to £300 million.
Adithya Ananth, Goal.com UK