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Tom Hicks May Sell Up To 49 Percent of Rangers and Stars

SURPRISE, Ariz. - Rangers/Stars owner Tom Hicks on Wednesday confirmed InsideCorner’s report that he is seeking investors to buy a significant chunk of his U.S. sports operations.

Hicks currently controls 95 percent of the teams, but said he is willing to relinquish up to 49 percent of the Rangers and Stars. He said few major market clubs are completely controlled by one owner.

“I look at it as a way to improve things in a bad economy,” Hicks said. “It’s something we’ve been looking at quietly for the last couple of months. I don’t think it’s a big deal.”

Hicks said the deal would not have any impact on the teams’ payrolls.

But he is looking at adding some heavy hitters – and some big time arms. He acknowledged that he’d like for club president Nolan Ryan to get “more involved.” Ryan recently hosted his minor league franchise ownership partner Don Sanderes in Surprise.

And Wednesday, Hicks hosted Dallas real estate investor Ray Washburne, who is in the process of closing a $150 million deal to buy Highland Park Village shopping center.

Hicks said, however, he is not seeking an investment from former U.S. President George W. Bush, a former Rangers partner and current Hicks neighbor.

“The guys I’m looking for have really, really deep pockets,” Hicks said. “We just want [President Bush] to be a fan and show up at as many games as he can.”

Hicks said he anticipates retaining between 51 and 60 percent of the two teams. Selling off 40 percent of the Rangers alone could be worth $200 million. Hicks declined to discuss his estimated value of the club, but it could exceed $500 million. According to Forbes magazine, the Rangers were worth $412 million last year and ranked 16^th of the 30 MLB franchises. San Diego, which was just sold for more than $500 million, was ranked 19^th in the same survey.

Any deal for part of the Rangers or Stars would not include any portion of Hicks’ 50-percent control of Liverpool Football Club, the English Premier League soccer team in which he shares ownership with Montreal Canadiens owner George Gillett. Locked in a standoff with his partner, Hicks can’t afford to sell any portion of the team or risk turning himself into a minority owner.

Pursuing a deal for parts of the Rangers and Stars may simply return Hicks to the status he held when he first purchased the Rangers in 1998 to go along with his control of the Stars. Hicks said at that time that he held only 55 percent of the two teams.