Tom Hicks, Pioneering Texas Businessman and Sports Owner, Dies at 79

Sports and Business Icon Passes Away

Tom Hicks, the Texas businessman and philanthropist who owned two Dallas-area professional sports franchises and an English Premier League soccer team, died Saturday at the age of 79. According to a spokesperson, Hicks died peacefully in Dallas surrounded by family. His passing marks the end of an era for Texas sports and American private equity, as Hicks was instrumental in reshaping both industries during his remarkable career.

A Pioneer in Private Equity

Before entering sports ownership, Hicks co-founded Hicks & Haas in 1984 and Hicks, Muse, Tate & Furst in 1989, helping reshape private equity and investing strategy. Among the most notable of those was the Dr Pepper/7Up merger. His innovative approach to leveraged buyouts and corporate mergers established him as a legend in finance. “Tom Hicks was an innovative businessman and a pioneer in private equity,” fellow Texas businessman Ross Perot Jr. said in a statement.

Sports Ownership Legacy

Hicks formerly owned the Dallas Stars from 1995-2011 and the Texas Rangers from 1998-2010. The team won its lone Stanley Cup in 1999. Under Hicks’ ownership, the team signed shortstop Alex Rodriguez to a then-record-setting 10-year, $252 million deal. He negotiated pioneering TV deals for the Stars and Rangers, which he simultaneously held from 1998-2010. He also acquired 50% ownership of Liverpool.

Community Impact and Development

The role he played in the development of American Airlines Center, where the Dallas Mavericks currently play, was instrumental in helping anchor Uptown as one of the city’s hottest areas, billionaire magnate Ross Perot Jr. told The News in an interview on Sunday. His vision extended beyond sports, transforming Dallas’s urban landscape and creating lasting community assets that continue to benefit the region today.

Remembering a Family Man

Hicks is survived by his wife of 35 years, Cinda Cree Hicks, and his six children — Thomas Ollis Hicks Jr., Mack Hardin Hicks, John Alexander Hicks, Robert Bradley Hicks, William Cree Hicks and Catherine Forgrave Hicks. Dallas Cowboys owner Jerry Jones said in a statement: “Tom was a close friend and a great partner. He dreamed big and watching him bring the Stanley Cup here to Dallas was something that I will always cherish.” His legacy as a transformative businessman, sports owner, and devoted father will continue to influence Texas and beyond for generations to come.