Texas Businessman Tom Hicks Dies at 79

Tom Hicks, the Texas businessman and former co-owner of Liverpool Football Club, died Saturday at the age of 79 in Dallas, surrounded by family members.

A spokesperson for the family, Lisa LeMaster, confirmed that Hicks passed away peacefully. His children released a joint statement expressing their grief and admiration. "Of everything he accomplished in his remarkable life, Tom Hicks's most cherished title was, Dad," the statement read. "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 honored to continue expanding his legacy. Although we are devastated by this loss, we are profoundly grateful to have been his children."

Hicks built a prominent career in business and sports ownership. He co-founded the private equity firm Hicks & Haas in 1984 and later established Hicks, Muse, Tate & Furst in 1989, both of which influenced investment strategies in the sector. Fellow Texas businessman Ross Perot Jr. described him as "an innovative businessman and a pioneer in private equity" who effectively combined his interests in business and athletics.