Despite the sale of the Texas Rangers over the summer, Tom Hicks' fiscal ineptitude is hurting a Dallas based team. This time it's the Dallas Stars who have asked the NHL for a revenue advance according to Mike Heika.
The Hockey News reported Monday that the Stars have already received $8 million in future television and revenue sharing money, but the sources said the team is only in the first stages of studying how it can receive the money.
The sources again confirmed that the team is being financed by the group of lenders who are acting as the unofficial owners after Hicks Sports Group defaulted on $525 million in debt that helped purchase and run the Stars and the Rangers.The lenders are prepared to extend the team a line of credit when the monies collected over the summer run out, which is expected to occur in December or January. To help avoid falling into further debt to the lenders, the Stars have asked the NHL for an advance on revenue they would receive after the season. That money would come in a line of credit.
This could be resolved without the NHL needing to provide a revenue advance if the team is sold prior to December. A bid would have to satisfy the lenders much like with Texas Rangers over the summer.