A prominent Texas businessman, philanthropist, and one of Major League Baseball’s most influential investors, passed away Saturday at the age of 79, surrounded by family. Hicks was widely recognized for his ownership of two major Texas sports franchises and his transformative impact on professional baseball.
Early Life and Career
Born in Port Arthur, Texas, Hicks earned a bachelor’s degree in finance from the University of Texas at Austin and an MBA from the University of Southern California. He also served as a paratrooper in the Army Reserves. Hicks began his career at First National Bank of Dallas before co-founding the investment firm Hicks & Haas with Robert Haas in the 1980s. The company owned several beverage brands, including Dr Pepper and 7 Up, turning an $88 million investment into $1.3 billion. He later co-founded Hicks, Muse, Tate & Furst and established Hicks Holdings, which managed his real estate and sports investments.
Major League Baseball Ownership and Investments
Hicks became a key figure in MLB as the owner of the Texas Rangers from 1998 to 2010. Under his leadership:
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The Rangers won multiple American League West Division titles.
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He signed Alex Rodriguez to a groundbreaking 10-year, $252 million contract in 2001, one of the largest in professional sports history.
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He hired key personnel, including GM Jon Daniels, manager Ron Washington, and team president Nolan Ryan.
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He invested heavily in infrastructure, including Riders Field, the home of the Double-A Frisco RoughRiders, and the Surprise Recreation Complex, where the Rangers conduct spring training.
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Tom Hicks
Through these moves, Hicks became recognized as one of MLB’s top investors and sponsors, supporting the development of teams, player pipelines, and facilities that strengthened the league overall.
Hicks also owned stakes in minor league and development systems affiliated with the Rangers, helping modernize farm systems and youth baseball development in Texas.
Other Sports and Civic Contributions
Beyond MLB, Hicks owned the Dallas Stars from 1995 to 2011, guiding the team to its only Stanley Cup in 1999. He was instrumental in the development of the American Airlines Center, which serves as home for the Stars and the Dallas Mavericks, and supported grassroots hockey initiatives across the region.
He also held a 50% stake in Liverpool FC from 2007 to 2010 and contributed to major civic projects in Dallas, including the Margaret Hunt Hill Bridge, designed by Santiago Calatrava.
Legacy and Family
Hicks is survived by his wife, Cinda, and six children: Thomas Jr., Mack Hardin, John Alexander, Robert Bradley, William Cree, and Catherin Forgrave. The family released a statement honoring his life:
“Of everything he accomplished in his remarkable life, Tom Hicks’s most cherished title was, ‘Dad.’ No matter the trials and tribulations he faced, 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.”
The Texas Rangers, Dallas Stars, and MLB community released statements recognizing Hicks as a transformative figure in professional sports, praising his investments, leadership, and long-lasting contributions to baseball at every level.
