Tom Hicks, the American businessman whose controversial co-ownership of Liverpool Football Club plunged the historic team into financial turmoil and fan unrest, has passed away at the age of 79. A family spokesperson confirmed he died on Saturday in Dallas, surrounded by his loved ones.
A Family Man and a Business Titan
In an emotional statement released after his death, Hicks' family remembered him first as a devoted father. "Of everything he accomplished in his remarkable life, Tom Hicks' most cherished title was, 'Dad,'" the statement read. They highlighted his constant generosity and love, describing him as a guiding force whose legacy they are honoured to expand.
Before his fateful foray into English football, Hicks built a significant reputation in American sports. He owned the NHL's Dallas Stars, who clinched the Stanley Cup in 1999, and MLB's Texas Rangers, a team that won three American West Division titles under his stewardship.
The Anfield Era: Debt, Discord, and Fan Fury
Hicks' involvement with Liverpool began in 2007 when he and fellow American investor George Gillett acquired the club. Their three-and-a-half year tenure, however, quickly became synonymous with crisis.
The period was marked by mounting debts exceeding £200 million, explosive internal conflicts involving then-chief executive Rick Parry and manager Rafael Benítez, and a glaring lack of on-pitch success with no major trophies. Benítez was eventually replaced by Roy Hodgson in an appointment that failed to revive the club's fortunes.
Fan discontent reached a boiling point, with widespread protests against the ownership. The situation was severely aggravated when Hicks' son, Tom Jr., sent a notorious expletive-laden email insulting a supporter, an act for which he later apologised. The co-owners were even labelled 'asset strippers' in the UK Parliament by MP Steve Rotheram.
A Costly Exit and a Diminished Fortune
The relentless controversies forced a sale. In 2010, Hicks and Gillett sold Liverpool to Fenway Sports Group (FSG) for a reported £300 million. While this was about £80 million more than their initial purchase price, the enormous debt meant the duo recorded a staggering loss of nearly £150 million on their investment. Hicks had initially sought a valuation as high as £1 billion.
This failed venture contributed to a significant decline in Hicks' personal wealth, once estimated at $1 billion, following a series of other unsuccessful investments later in his life.
Tom Hicks is survived by his wife, Cinda Cree, and his six children. His passing closes a contentious chapter in Liverpool FC's history, remembered by fans for its strife but by his family for the man they called Dad.
