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Tom Hicks financial position appears to be worsening as he looks set to be forced out of one of his American sports franchises.

Reports in the US are claiming that he has had to borrow millions of dollars from Major League Baseball’s money men.

“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 loan from the Royal Bank of Scotland.