Tom Hicks, Former Texas Rangers Owner, Passes Away

Tom Hicks, the former Texas Rangers owner whose bold bets helped shape modern sports business in Dallas and beyond, has died at age 79.

His tenure with the Rangers from 1998 to 2010 was a roller coaster of early on-field success, record-shattering contracts, financial strain, and ultimately a sale that set the stage for the franchise’s most successful era.

This is the story of a high-stakes investor who brought Wall Street thinking to the ballpark—with all the triumphs and turbulence that came with it.

From Dr Pepper Deals to Big-League Dreams

Before Tom Hicks became a household name in Texas sports, he had already made his mark in the boardroom.

As a Dallas-based private equity powerhouse, Hicks built his fortune by spotting value where others missed it—and moving fast when he saw an opening.

In the late 1980s, Hicks struck gold with investments in soft drink brands Dr Pepper and 7 Up.

Those deals reportedly helped him amass more than $1 billion. That windfall didn’t just cement his status in finance; it gave him the financial firepower to chase a new ambition: owning major sports franchises.

Hicks Enters the Sports Ownership Arena

Hicks’s first step into professional sports came in 1995 when he bought the NHL’s Dallas Stars.

That move showed he believed Dallas could support multiple big-league winners—and that maybe he could be the one to deliver them.

Three years later, in 1998, Hicks made his most high-profile acquisition: buying the Texas Rangers from a group led by future U.S. President George W. Bush.

The transaction positioned Hicks as a central figure in the Dallas sports landscape, controlling both an NHL club and a Major League Baseball franchise.

Early Success: The Rangers Rise Under Hicks

On the field, the Hicks era started with promise.

The Rangers were competitive, exciting, and built around one of the greatest catchers the game has ever seen.

With Iván “Pudge” Rodríguez leading the way, Texas captured back-to-back AL West titles.

Fans packed the ballpark, and Hicks’s ownership initially looked like the accelerator the franchise had long needed.

A-Rod and the Biggest Contract in Baseball History

Then came 2000, a turning point marked by struggle on the field and a decision that would define Hicks’s tenure.

Hoping to jolt the franchise back to contention and make a statement across the sport, Hicks stunned baseball by signing Alex Rodriguez to a then-unthinkable 10-year, $252 million contract.

At the time, it was the largest deal in sports history. The move underscored Hicks’s reputation as a bold, swing-for-the-fences owner.

Rodriguez delivered individually—putting up MVP-caliber numbers and reminding everyone nightly why he was the game’s premier talent.

But baseball isn’t won by contracts or superstars alone. Despite A-Rod’s brilliance, the Rangers stayed stuck in the middle of the pack, unable to turn record spending into meaningful postseason success.

By 2003, the fit felt wrong on both sides. Hicks authorized the blockbuster trade sending Rodriguez to the New York Yankees.

Financial Strain and the End of an Era

Behind the scenes, the aggressive financial posture that had defined Hicks’s empire started to show cracks.

As the decade wore on, his sports holdings turned into a burden as much as a badge of prestige.

The Rangers’ payroll, the A-Rod contract fallout, and broader economic pressures piled up, leading to significant financial troubles and legal complications.

The organization, once viewed as a showcase asset, suddenly felt constrained and under scrutiny.

Sale to Nolan Ryan and Chuck Greenberg

By 2010, the situation came to a head.

In a highly watched and sometimes contentious process, Hicks sold the Texas Rangers to an ownership group led by franchise legend Nolan Ryan and attorney Chuck Greenberg.

Around the same period, Hicks moved on from his other major sports properties as well, selling Liverpool F.C. in England and the Dallas Stars.

That closed the book on his high-profile career as a multi-sport owner.

The Legacy: Foundations for a Winner

Some of the most impressive results tied to Hicks’s tenure came after he was no longer in the owner’s box.

The Rangers, led in part by personnel and infrastructure put in place during the Hicks years, surged to new heights once the ownership transition wrapped up.

Under the new regime, Texas captured back-to-back American League pennants in 2010 and 2011.

They made consecutive World Series appearances for the first time in franchise history. Many of the decision-makers and organizational pillars that supported that rise had roots in the Hicks era, underscoring his complicated but undeniable influence.

How Tom Hicks Will Be Remembered

Tom Hicks leaves behind a legacy that defies simple labels. He was a passionate, competitive owner who wasn’t afraid to spend and take risks for championships.

He also became a symbol of how ambitious financial strategies in sports can elevate a franchise—or sometimes put it at risk. From billion-dollar beverage deals to record-breaking contracts, Hicks helped shake up the business of sports in Dallas.

He left fingerprints all over the Rangers’ transformation from a regional club to a true national player. His passing at 79 closes a chapter in Texas sports history.

 
Here is the source article for this story: Former Rangers Owner Tom Hicks Passes Away