Former Rangers Owner Tom Hicks Passes Away at 79: Reflecting on a Complex Legacy in Texas Sports
The Texas Rangers announced Monday morning that former team owner Tom Hicks has passed away at the age of 79. A Dallas-based businessman with a deep footprint in both sports and finance, Hicks' time with the Rangers was marked by bold moves, big swings, and a legacy that continues to stir conversation in North Texas baseball circles.
In a statement released by the club, the Rangers honored Hicks as “a passionate and competitive owner and Texas Rangers fan,” extending condolences to his wife, Cinda, his six children, and the rest of his family.
Hicks made his fortune in private equity, notably striking gold in the late 1980s with a partnership that merged Dr. Pepper and 7 Up-an investment that netted over $1 billion.
But it was in sports where Hicks carved out a more public legacy. He entered the ownership game in 1995 with the NHL’s Dallas Stars before acquiring the Rangers in 1998 from an investment group that included future U.S.
President George W. Bush.
Nearly a decade later, he added Liverpool F.C. to his sports empire, expanding his reach overseas.
Early Success and a Swing for the Fences
Hicks’ arrival in Arlington coincided with an early wave of success. The Rangers won back-to-back AL West titles in his first two seasons at the helm, powered by the likes of Ivan “Pudge” Rodriguez, who would go on to earn a plaque in Cooperstown.
But the momentum didn’t last. By 2000, the team had slipped into a downturn, and Hicks responded the way many ambitious owners do-by making a splash.
That splash came in the form of a 10-year, $252 million contract for Alex Rodriguez during the 2000-01 offseason. At the time, it was the largest deal in professional sports history, and it sent shockwaves through the baseball world.
A-Rod delivered on the field, slashing .305/.395/.615 with 156 homers and 27.0 fWAR over three seasons in Texas. But the supporting cast around him couldn’t keep up.
The Rangers lost 90, 91, and 89 games during those years, and despite Rodriguez’s individual brilliance-including an MVP award in 2003-the team never sniffed the postseason.
The A-Rod Trade and a Franchise in Flux
After three frustrating seasons, Hicks pulled the trigger on one of the biggest trades in franchise history, sending Rodriguez to the Yankees ahead of the 2004 season. In return, Texas received Alfonso Soriano and a young infielder named Joaquin Arias. New York took on $112 million of the $179 million still owed to A-Rod, and the move marked a turning point for both franchises.
Rodriguez would go on to win two more MVPs in the Bronx and help the Yankees capture the 2009 World Series. Meanwhile, the Rangers managed an 89-win season in 2004 but still finished third in a loaded AL West. The team remained stuck in neutral for much of the next half-decade.
Financial Struggles and the Beginning of the End
By 2009, the Rangers were finally showing signs of life again. A young core featuring Ian Kinsler, Nelson Cruz, and rookie Elvis Andrus helped the team to 87 wins, just shy of a postseason berth. But behind the scenes, financial trouble was brewing.
That same year, the Rangers failed to sign first-round draft pick Matt Purke, despite a verbal agreement on a $6 million signing bonus. Hicks claimed the team simply didn’t want to spend that much on the 14th overall pick. But team president Nolan Ryan later indicated that Major League Baseball was monitoring the franchise’s finances and had nixed the deal.
The writing was on the wall. In January 2010, Hicks announced he had agreed to sell the Rangers to a group led by Ryan and Chuck Greenberg.
But the process was anything but smooth. Hicks Sports Group filed for bankruptcy in May, and the sale dragged on through the summer before culminating in a public auction in August.
The Ryan-Greenberg group emerged victorious, officially ending Hicks’ run as owner. He would go on to sell Liverpool later that year and the Stars in 2011.
A Complicated Legacy
Hicks’ tenure with the Rangers was anything but ordinary. It was filled with ambition and risk, from the record-setting A-Rod deal to the high-profile acquisitions and eventual financial unraveling. But even as the franchise faced turbulence off the field, the infrastructure laid during Hicks’ ownership helped set the stage for one of the most successful stretches in club history.
After the sale, the leadership team of Nolan Ryan, GM Jon Daniels, and manager Ron Washington guided the Rangers to back-to-back AL pennants in 2010 and 2011. With stars like Josh Hamilton and Adrian Beltre leading the way, Texas became a powerhouse in the American League-proof that the seeds planted during Hicks’ era, however rocky, eventually bore fruit.
Tom Hicks leaves behind a legacy that’s layered and complex, much like the game he invested in. He was a bold owner who wasn’t afraid to take big swings-some connected, others missed-but his impact on the Rangers and the broader Texas sports landscape is undeniable.