Tom Hicks

Thomas O. Hicks, Sr. (born 1946 in Dallas, Texas but later moved to Port Arthur, Texas), is a Dallas businessman. According to Forbes Magazine 2008, Tom Hicks has an estimated wealth of $1.3 billion USD.

Hicks co-founded the investment firm, Hicks, Muse, Tate & Furst, and is chairman of Hicks Holdings LLC, which owns and operates Hicks Sports Group, the company that owns the Texas Rangers, the Dallas Stars, Mesquite Championship Rodeo and also owns fifty percent of the English football team Liverpool FC. He is the uncle of the late comedian Bill Hicks.

Biography

The son of a Texas radio station owner, Hicks graduated from Thomas Jefferson High School, class of 1964 in Port Arthur, Texas. Hicks, as a brother of Sigma Phi Epsilonhttp://www.texasifc.org/famousalums.htm] , received his Bachelor's degree in Finance from the University of Texas in 1968, and his MBA from the University of Southern California in 1970http://www.dallasstars.com/stars/bio-hicks.jsp] .

Hicks became interested in leveraged buyouts as a member of First National Bank's of Austin venture capital group. Hicks and Robert Haas formed Hicks & Haas in 1984; the next year that firm bought Hicks Communications, a radio outfit run by Hicks' brother Steven - the first of many media companies bought or created by the buyout firm, often with Steven Hicks' involvement.Fact|date=March 2008

Hicks & Haas' in the mid-1980s bought several soft drink makers, including Dr Pepper and 7 Up. The firm took Dr Pepper/7 Up public just 18 months after merging the two companies. In all, Hicks & Haas turned $88 million of investor funding into $1.3 billion. The pair split up in 1989; Hicks wanted to raise a large pool to invest, but Haas preferred to work deal by deal.Fact|date=March 2008

In 1989, Hicks co-founded the investment firm, Hicks, Muse, Tate & Furst with former Prudential Securities banker John Muse. The firm raised $250 million, with early investments including Life Partners Group (life insurance, 1990; sold 1996). In 1991 Morgan Stanley's Charles Tate and First Boston's Jack Furst became partners. Hicks was chairman from 1989 to 2004, Hicks, Muse, Tate & Furst raised $12 billion of private equity funds, consummated over $50 billion of leveraged acquisitions, and was one of the most active private investment firms in the country.Fact|date=March 2008

But the business hit a rough patch by the early 2000s, when investors in Equity Fund IV were burned by a $1.2 billion plunge into telecom investments in 1999. Hicks announced that he would leave the firm on March 8, 2004 to spend more time with his family and his sports teams.Fact|date=March 2008

Retirement

Hicks formed Hicks Holdings, a vehicle for his billion-dollar sports and real estate empire, and then started buying companies again in the $10-million to $250-million level, including [cite web | url=http://www.businessweek.com/magazine/content/06_26/b3990073.htm | title=This Buyout Game Ain't Over Yet | work=Business Week | publisher=The McGraw-Hill Companies | date=2006-06-26 | accessdate=2008-04-28 | last=Morrison | first=Mark ] :
*electronics firm with 1,000 employees in China
*started a new venture with DirecTV selling bundled TV-telecom services to condos
*landscaping materials in the Midwest
*pet food in Argentina
*Gammaloy - an oil field rental outfit he bought from his wife's family, paying approximately $20 million in the 1990s.

Politics

Hicks was recently a member of the political action committee for the 2008 presidential election campaign for former Republican Mayor of New York City, Rudy Giuliani [http://www.greatdreams.com/2008/rudolph_giuliani.htm RUDOLPH GULIANI FOR PRESIDENT - 2008 ] ]

Tom Hicks Elementary School

Tom Hicks Elementary School in Frisco, Texas, part of the Lewisville Independent School District, was given its name after Hicks donated the necessary land for the school [http://www.greatschools.net/modperl/browse_school/tx/8845 Tom Hicks Elementary School - Frisco, Texas - TX - school overview ] ] .

ports

Hicks moved from the business pages to the sports section in December 1995 when he bought the National Hockey League Dallas Stars for $82 million [http://www.cbsnews.com/stories/1998/01/08/archive/main69.shtml Stars owner Hicks to buy Rangers for $250 million, - CBS News ] ] .

Dallas Stars

Seven Division Championships, three Western Conference crowns, two Presidents' Trophies as the team with the best regular season record, two consecutive trips to the Stanley Cup Finals and the 1999 Stanley Cup Championship are the highlights of the Dallas Stars' rapid ascent in the 11 years since Thomas O. Hicks contracted to purchase the hockey club in December 1995. Mr. Hicks serves as the Stars' Chairman of the Board and the club's representative on the NHL Board of Governors, and also played an instrumental role in the development and planning of American Airlines Center. [http://www.dallasstars.com/stars/bio-hicks.jsp] ]

Texas Rangers

In June 1998, Hicks became the Chairman and Owner of the Texas Rangers Baseball Club of the Major League Baseball’s American League. Under Hicks ownership, the Rangers won the American League West Division crown in 1998 and 1999, but failed to deliver a World Series. After retirement from Hicks Muse Tate and Furst, and with the Rangers finished in last place in its division in 2003, Hicks promised to rebuild the team, shipping Alex Rodriguez ($252 million over 10 years) to the New York Yankees. Hicks serves on the Board of Directors of MLB Advanced Media, the internet-based subsidiary of Major League Baseball.

Liverpool F.C.

On February 1, 2007, it was made known through the English press that he was involved in a consortium with one-time friend and Montreal Canadiens owner George N. Gillett Jr. to purchase English Premiership club Liverpool F.C; this takeover proposal was believed to be the front runner after Dubai International Capital withdrew their bid. [http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/6318091.stm BBC SPORT | Football | My Club | Liverpool | Consortium pulls out of Reds bid ] ] . On February 6, 2007, Hicks & Gillett's joint offer for Liverpool was formally accepted, valuing the club at £218.9m ($432.9m) (£5,000 per share and £44.8m in debt). [http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/6323037.stm BBC SPORT | Football | My Club | Liverpool | US pair agree Liverpool takeover] ] . Liverpool became the third FA Premier League club to be acquired by U.S. businessmen, the others being Aston Villa and Manchester United. After the bid was accepted, Hicks stated his foremost priority was gaining silverware, and vowed to build a new stadium for the club at Stanley Park Stadium.

References

External links

* [http://www.nndb.com/people/529/000052373/ Tom Hicks at Notable Names Database]
* [http://stars.nhl.com/team/app?service=page&page=NHLPage&bcid=sta_bio-hicks Bio at Dallas Stars]
* [http://www.hicksholdings.com Hicks Holdings Official Website]
* [http://www.hickssportsgroup.com Hicks Sports Group Official Website]
* [http://www.hickssportsmarketing.com Hicks Sports Marketing Official Website]
* [http://www.hicksequitypartners.com Hicks Equity Partners Official Website]
* [http://www.hicksrealestatepartners.com Hicks Real Estate Partners Official Website]
* [http://www.htap.com Hicks Trans American Partners Official Website]