Rangers/Stars Owner Tom Hicks and his business
interests were profiled by Yung & Egerton of the DALLAS
MORNING NEWS, who wrote that Hicks has battled back from
being "nearly broke" in the '80s to becoming "one of the
most powerful forces in American business and sports."
Though Hicks operates the Rangers and the Stars like his
other business holdings and "expects eventual profit," he
says that the teams don't need to earn as much money as
quickly. Both teams are losing money, but he expects the
Stars "to turn the financial corner" once the American
Airlines Center opens in 2001. Hicks, on the teams: "I
really view it as a long-term asset, perhaps
multigenerational. It all depends on what happens with the
media thing in the next ten years." While Hicks wants to
model his Southwest Sports Group after N.Y.-based sports
media company MSG Network, he has put on "hold" plans to
sell a third of the company through a public offering.
Though some investors say that he could "complete his
empire" by acquiring the Mavericks, Hicks has said he's "not
sure" he wants the team. But Hicks has had "preliminary
discussions" about acquiring the MLS Burn, and would like a
soccer-only stadium for the team (DALLAS MRN NEWS, 7/11).
TEXAS SON-RISE: In N.Y., Allen Myerson profiled Mavs
Owner Ross Perot Jr. and his project for turning about 19
blocks in downtown Dallas into "Victory," consisting of
office buildings, apartments, shopping concourses and the
American Airlines Center that "will give the city its own
Times Square." Hicks, who has partnered with Perot for the
arena, is "on the verge of extending" his partnership with
Perot to the entire project (N.Y. TIMES, 7/11).
UPTOWN GUY: Former Rangers President Tom Schieffer
talked with the ARLINGTON MORNING NEWS of his development
plan to create an "Uptown Arlington" for the Dallas suburb
near the Rangers' ballpark. Schieffer: "The goal is to
create a sense of center, a focus. A place for civic events
to occur" (ARLINGTON MORNING NEWS, 7/11).
