Tom Hicks, a prominent figure in sports real estate and business, died on Saturday at the age of 79. Hicks was recognized for his role in pioneering mixed-use developments centered around sports venues, which have become increasingly popular in recent years.
Hicks began his career with notable achievements in the beverage industry, including brokering the merger between Dr. Pepper and 7Up alongside business partner Bobby Haas. He later became known for his involvement in sports team ownership. Hicks owned the Dallas Stars from 1995 to 2011, during which time the team won the Stanley Cup in 1999. He also owned the Texas Rangers from 1998 to 2010 and held a significant stake in Liverpool Football Club between 2007 and 2010.
One of Hicks’ most lasting contributions was his partnership with Ross Perot Jr. to develop Victory Park, an entertainment district located across Woodall Rogers Freeway from downtown Dallas. The American Airlines Center, which opened in 2001 as part of this development, serves as home to both the Dallas Stars and the Dallas Mavericks.
Ross Perot Jr., reflecting on their collaboration, told the Dallas Morning News: “That partnership we put together in the ’90s to build the arena… truly transformed the city.”
Victory Park continues to evolve as a central business area and will soon include a new Goldman Sachs campus anchoring Hunt Realty’s NorthEnd development.
When acquiring the Texas Rangers, Hicks also purchased surrounding land with plans for another mixed-use project anchored by The Ballpark in Arlington. However, these plans did not materialize during his tenure as owner.
Financial difficulties marked Hicks’ later years of ownership; both the Stars and Rangers filed for bankruptcy—Rangers in 2010 and Stars in 2011—and were subsequently sold at auction.
Outside of sports, Hicks and his wife Cinda owned Crespi Estate in Dallas’ Preston Hollow neighborhood. Built for Italian Count Pio Crespi in 1938, this property has been one of Texas’ most expensive listings and has since passed through other notable owners.
Dallas Cowboys owner Jerry Jones commented on Hicks’ passing: “Being shoulder to shoulder with him was always more than ballparks and stadiums, though. It was about personal respect, trust and friendship.”
