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Hicks denies report of advance from league

Owner Tom Hicks denied a Globe & Mail report Tuesday that the Stars were one of a half-dozen teams that needed a cash advance from the league last season.

You can read the report here. And the blog post that spurred the report is here (note No. 2 at the bottom).

Hicks said via e-mail that the Stars did not receive a revenue sharing advance from the league.

“We received advances from our lenders,” Hicks said.

The report cited that the Stars joined Atlanta, Florida, the New York Islanders, Phoenix and possibly Tampa Bay in needing advances.

Hicks Sports Group has put the Stars up for sale, and Hicks said last week that the process was in the early stages as the company identifies potential owners. Hicks said there was no timetable to get a deal done. One of the potential owners is oil and gas investor Billy Quinn, who has formed a group with former Stars president Jim Lites and Stars center Mike Modano.

HSG, which defaulted on $525 million of loans last year, is also selling the Rangers and has worked to complete a deal with Rangers Baseball Express, a group headed by Pittsburgh attorney Chuck Greenberg and club president Nolan Ryan. The deal is not yet done. MLB said last week that it was in control of the process and working with HSG’s lenders to get the deal finalized with Rangers Baseball Express soon. Ryan said after last season that MLB had to loan the club money during the 2009 campaign.