Tom Hicks said Monday he lent $85 million of his own money to Hicks Sports Group over a two-year period that ended March 31, 2009, and that the Stars must operate under a tight budget if they want to be viable going forward.

Hicks, who controls Hicks Sports Group, was overseas last week when it was announced HSG would seek possible new ownership for the Stars, spoke to the media Monday for the first time since the announcement. He said that HSG, which owns the Stars and is in the process of selling the Rangers, took on too much debt because teams spent more than the budget allowed. He now has to monetize the sports assets to pay down the debt, he said.

Hicks said while the public perception seems to be that an owner either wants to put money into a team or doesn't, the reality is teams are businesses that have to be run on a budget.

"Whoever the new owner is, he is not going to go to the cap," Hicks said. "If he does, it's all going to come out of his pocket. We're losing money where we are now. These are organizations, and nobody in their right mind is going to write checks to cover big, big losses every year."

The Stars were No. 1 in the NHL in revenue produced in the arena in 2002 after moving into American Airlines Center, Hicks said. This season, he said, they are 19th because the economy has made it difficult to sell tickets and signage to corporations.

Stars president Jeff Cogen said that in the early 2000s, the most expensive tickets were always the first sold. Now, he said, the Stars are planning to cut prices for next season on their most expensive tickets to get more people in the building.

"Revenue streams have dropped materially. The ability to sell the highest-priced tickets is more difficult," Cogen said. "Our holes are in the most expensive seats, and I have convinced the boss that we need to roll back those prices. We'll take a step back to grow in the long term, which is the way we built this franchise."

Of course, there is a good chance Hicks will not be the boss next season. Hicks Sports Group enlisted the services of Galatioto Sports Partners to seek potential buyers for the Stars, and Hicks said to meet the demands of HSG creditors, the window for a possible sale is about six months.

Cogen said the dropping revenue is just a reality of the current economic situation. He added that if the Stars were really spending to the model of what is produced by ticket sales, the payroll could be as low as $33 million.

Dallas has an internal cash budget of $45 million. The NHL salary cap is $56.8 million this season and the salary floor is $40.8 million.

Eighteen teams have salary cap hits that are $55 million or more, including Carolina, Anaheim, Florida and San Jose, but Hicks said the model will not support that kind of spending in the Sunbelt.

"Essentially, every team south of Pennsylvania has realized that they can't go to the cap. If they do, they'll lose money," Hicks said. "So we're all adjusting, trying to get younger, faster and more skilled."

Hicks said while Galatioto will broker the sale, he and HSG will make all of the final decisions. Hicks said he has not been made aware of any potential suitors and does not know if he or his family will retain any role in future ownership. He made it clear that the lenders to whom HSG defaulted on $525 million worth of loans on March 31, 2009, must be satisfied.

Hicks said he is unsure how the sale of the Rangers might affect the potential sale of the Stars.

"The Stars need to be monetized," he said. "I would like to be part [of the team], but like we've seen with the Rangers, sometimes you just can't predict how it is going to work."

Cogen added that the team would remain in Dallas no matter who buys it.

"The Dallas Stars aren't going anywhere," Cogen said. "We are in the fourth-largest market in the country, we are the pride of the NHL Sunbelt, and still are in spite of the present state. We have a non-location agreement with American Airlines Center, and we're not going anywhere. I just want to get that on the record."