- Tom Hicks
Thomas O. Hicks, Sr. (born 1946 in
Dallas, Texasbut 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 Rodeoand also owns fifty percent of the English football team Liverpool FC. He is the uncle of the late comedian Bill Hicks.
The son of a
Texas radio stationowner, 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 degreein Finance from the University of Texasin 1968, and his MBA from the University of Southern Californiain 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 capitalgroup. 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 drinkmakers, including Dr Pepperand 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 & Furstwith former PrudentialSecurities 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, 2004to spend more time with his family and his sports teams.Fact|date=March 2008
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
*started a new venture with DirecTV selling bundled TV-telecom services to condos
*landscaping materials in the Midwest
*pet food in
*Gammaloy - an oil field rental outfit he bought from his wife's family, paying approximately $20 million in the 1990s.
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 Schoolin 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 ] ] .
Hicks moved from the business pages to the sports section in December 1995 when he bought the
National Hockey League Dallas Starsfor $82 million [http://www.cbsnews.com/stories/1998/01/08/archive/main69.shtml Stars owner Hicks to buy Rangers for $250 million, - CBS News ] ] .
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 Finalsand the 1999 Stanley CupChampionship 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] ]
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 Divisioncrown 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.
February 1, 2007, it was made known through the English press that he was involved in a consortium with one-time friend and Montreal Canadiensowner George N. Gillett Jr.to purchase English Premiershipclub Liverpool F.C; this takeover proposal was believed to be the front runner after Dubai International Capitalwithdrew 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 Leagueclub to be acquired by U.S. businessmen, the others being Aston Villaand 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.
* [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]
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