Former Liverpool owner Tom Hicks d!es aged 79

Tom Hicks, the controversial former co-owner of Liverpool Football Club, has died at the age of 79.

The American businessman, whose three-and-a-half year tenure at Anfield was marked by turmoil and fan protests, passed away on Saturday in Dallas surrounded by his family, a spokesperson confirmed.

Hicks’ family issued an emotional statement following his death;

“Of everything he accomplished in his remarkable life, Tom Hicks’ most cherished title was, “Dad,”‘ the family said. ‘No matter the trials and tribulations he faced in life, he was constant in his generosity and love for his family. He remains a guiding force for our family, and we are deeply honoured to continue expanding his legacy. Although we are devastated by this loss, we are profoundly grateful to have been his children.’

Hicks’ involvement with Liverpool began in 2007 when he acquired a 50 per cent stake in the club alongside fellow American investor George Gillett.

Before his time with the Reds, Hicks had significant success in American sports ownership, including the NHL’s Dallas Stars, who secured the Stanley Cup in 1999, and MLB’s Texas Rangers, which won three American West Division titles under his control.

However, his spell at Liverpool was defined by mounting huge debts at the club and explosive in-fighting involving key figures like former chief executive Rick Parry and manager Rafael Benítez.

During the co-ownership, Liverpool failed to secure a major trophy, and Benítez was eventually replaced by the ill-fated appointment of Roy Hodgson.

The constant controversies led to intense fan revolts. The situation was aggravated when Hicks’ son, Tom Jr., sent a widely publicised expletive-laden email calling a Liverpool fan an ‘idiot,’ for which he later apologised.

The internal conflict and public furore eventually led Hicks and Gillett to sell the club to Fenway Sports Group (FSG) in 2010.

Hicks, along with Gillett, had been famously labelled an ‘asset stripper’ in Parliament by MP Steve Rotheram.

While Hicks had initially sought a massive valuation of between £600 million and £1 billion, FSG ultimately completed the takeover for a reported fee of £300 million.

Although this was approximately £80 million more than the original purchase price, the former owners recorded a significant loss. Due to the over £200 million of debt accumulated under their watch, Hicks and Gillett ended up losing nearly £150 million on their investment.

Hicks, whose personal wealth was once estimated at $1 billion, saw his fortune significantly diminish following a string of failed investments.
He is survived by his wife, Cinda Cree, and his six children.