Tom Hicks, the Texas businessman who owned Stars, Rangers and Liverpool teams, dies at 79

Texas Business Magnate and Sports Franchise Owner Tom Hicks Dies at 79

Tom Hicks, the influential Texas businessman and sports franchise owner whose investments shaped both the business and sports landscapes of Dallas, died Saturday at age 79.

According to spokesperson Lisa LeMaster, Hicks passed away peacefully in Dallas with family members at his side. His death marks the end of a career that spanned private equity innovation and high-profile sports ownership.

Hicks made his most visible mark on the Dallas sports scene through his ownership of the NHL’s Dallas Stars from 1995 to 2011. Under his stewardship, the Stars reached the pinnacle of hockey success, capturing the franchise’s first and only Stanley Cup championship in 1999. The victory cemented the team’s place in Dallas sports history and helped grow hockey’s popularity in Texas.

His sports portfolio extended beyond hockey when he acquired the Texas Rangers baseball team in 1998. During his 12-year ownership that ended in 2010, Hicks oversaw three American West Division titles and guided the franchise to a World Series appearance. His impact on the Rangers included significant investments in player development and stadium improvements that continue to benefit the organization today.

In 2007, Hicks expanded his sports interests internationally by purchasing a 50% stake in Liverpool, one of England’s most storied soccer clubs. Though his ownership of the Premier League team proved controversial among Liverpool supporters, it demonstrated his global business vision.

Dallas Cowboys owner Jerry Jones, a fellow Texas sports mogul, reflected on their relationship in a statement: “Being shoulder to shoulder with him was always about more than ballparks and stadiums. It was about personal respect, trust and friendship. We shared a lot of miles together, and I’ll miss him greatly. My heart goes out to his family.”

Before becoming a prominent sports figure, Hicks established himself as a pioneer in private equity. He co-founded Hicks & Haas in 1984 and later Hicks, Muse, Tate & Furst in 1989, firms that helped reshape investment strategies across multiple industries. His business acumen allowed him to amass the fortune that eventually funded his sports franchise acquisitions.

“Tom Hicks was an innovative businessman and a pioneer in private equity,” noted Texas businessman Ross Perot Jr. in a statement. “He combined his commitment to business and sports through his ownership of the Stars and the Rangers.”

Hicks’s contributions extended beyond business and sports. He served as a paratrooper in the Army Reserves, demonstrating his commitment to service early in his career. Later, he was appointed Commissioner of the American Battle Monuments Commission, overseeing memorials honoring American armed forces. From 1994 to 1999, Hicks also served on the University of Texas’s Board of Regents, helping guide one of the state’s premier educational institutions.

Philanthropy remained an important aspect of Hicks’s life throughout his career, with numerous charitable causes benefiting from his support, particularly in the Dallas area.

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.

In a joint statement, his children expressed their profound grief while celebrating his legacy: “Of everything he accomplished in his remarkable life, Tom Hicks’s most cherished title was, ‘Dad.’ No matter the trials and tribulations he faced in life, he was constant in his generosity and love for his family. He remains a guiding force for our family, and we are deeply honored to continue expanding his legacy. Although we are devastated by this loss, we are profoundly grateful to have been his children.”

The passing of Tom Hicks represents the end of an era in Texas business and sports, leaving behind a complex legacy that includes championship victories, business innovations, and a lasting impact on the Dallas community.