Baseball team up for sale

Liverpool owner Hicks selling Texas Rangers shares

March 26, 2009

Liverpool co-owner Tom Hicks is looking to sell part of his share in Major League Baseball team Texas Rangers.

Hicks, who co-owns Liverpool with George Gillett and also owns NHL side Dallas Stars, currently has a 95% stake in the Rangers.

Hicks, who is trying to sell minority shares in the Stars as well, revealed his intentions at Rangers' spring training complex.

"I've been quietly looking for minority investors to come back into the ownership of the Rangers as a way to be prudent in a bad economy," Hicks said on mlb.com.

"I'm doing the same thing with the Stars. At the end of the day, I'll still have 51-to-60% of the ballclub and have new partners. That doesn't change anything.

"I own 95% of the Rangers. I started out owning 55% and over the past 10 years I've been slowly buying out partners that wanted to sell. There's no reason to own 95%. There aren't many owners who own 95%."

Earlier this week it was reported Gillett was considering selling some of his sporting assets, which also include the Montreal Canadiens NHL franchise.