Reports in the USA are claiming that Major League Baseball, baseball's governing body, have been forced to step in and loan Hicks millions of dollars to pay the wages of his Texas Rangers players.
"He won't be running the team much longer," said a source at Major League Baseball.
"Major League Baseball is helping him through this until someone else can be put in place to run the club."
Hicks's financial problems are unlikely to affect the refinancing of his and George Gillett's £350m LFC loan with the Bank of Scotland.
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