Sunday, January 31, 2010

Ex-Hicks partner sues over Rangers property sale

FORT WORTH, Texas — Dallas businessman Tom Hicks is being sued by a former development partner as the Texas Rangers owner seeks to sell the team and some land.

The dispute involves 45 acres near Rangers Ballpark in Arlington, land that Steiner & Associates of Columbus, Ohio, claims it has the right to develop.

A planned shopping, hotel and entertainment district known as Glorypark never materialized.

The lawsuit was filed Jan. 21 in Fort Worth, two days before Hicks announced a deal to sell the Rangers.

Hicks, who has informed Major League Baseball and the partnership group buying the Rangers about the legal action, says the lawsuit has no merit.

Steiner seeks $14.5 million, plus its stake in Glorypark. Steiner spokesman Jason Stanford says Hicks "does not have the right to sell the land without dissolving the partnership."


Information from: Fort Worth Star-Telegram,

1 comment:

blueberry said...

That's a big amount of million dollars. So much surprises on both parties regarding this issue.