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.
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