Forbes Magazine (one of the most respected business magazines) published the list of 400 wealthiest Americans and one of them still is Liverpool Co-Owner Tom Hicks.
Last year Hicks was ranked at No. 355 with a net worth of $1.4 billion now he is at No. 371 with a net worth of $1 billion.
This is what Forbes had to say about Hicks.
“Debt may force buyout titan to give up his sports empire. In April company he controls defaulted on $525 million debt held against Texas Rangers (baseball) and Dallas Stars (hockey); Rangers said to be for sale. Also owns Liverpool Soccer Club with partner after $440 million purchase in 2007; recently refinanced $480 million team debt. Inked $31 million annual licensing deal; Standard Chartered logo will now appear on team’s jerseys. Deejay in high school; earned M.B.A. from University of Southern California. Founded buyout firm Hicks Muse in 1989, renamed Hicks, Muse, Tate & Furst in 1994. Left in 2004, launched Hicks Acquisition 3 years later; agreed to buy oil outfit Resolute Natural Resources in August for $582 million. Fellow residents of ritzy Preston Hollow neighborhood include former President George W. Bush, Michael Dell.”
I love the part which says “Debt may force buyout titan to give up his sports empire.”, hopefully he will listen.