Thomas O. Hicks Jr. was a streak hitter at the helm of private equity firm Hicks, Muse, Tate & Furst, but as a professional sports team owner, his average is poor.
He's even striking out on his side bet: owning and investing in his teams' stadiums and nearby multiuse projects.
Here's a rundown of the woes plaguing the three sports teams owned by Mr. Hicks:
• The Texas Rangers Baseball Partners, which is owned by his family office, is in Chapter 11 bankruptcy protection. One of the club's largest creditors is All-Star third-baseman Alex Rodriguez, to whom Mr. Hicks is on the hook for $25 million of a $252 million contract signed in 2000. Mr. Rodriguez no longer plays for the Rangers, having been traded to the New York Yankees in 2007. Other current and former Rangers players on the creditors lineup include pitcher Kevin Millwood of the Baltimore Orioles, owed $12.9 million; Ranger third-baseman Michael Young, $3.9 million; and Los Angeles Dodger pitcher Vicente Padilla, $1.7 million, according to Rangers bankruptcy court filings. The club is expected to be auctioned through the bankruptcy court.
• The Dallas Stars hockey team, which is solely owned by Mr. Hicks, is on the market. The team is on a cost-cutting run, letting its most famous player, Mike Modano, go into free agency. Mr. Modano, 40, who has spent his entire career with the Dallas Stars and its predecessor, the Minnesota North Stars, is being wooed by the Detroit Red Wings. Also, goalie Marty Turco was cut from the roster, saving the team $5.5 million.
• Liverpool Football Club, the storied English Premier League soccer team, is jointly owned by Mr. Hicks and George Gillett, former owner of the Montreal Canadiens. Both have put their share up for sale. Under their tenure, the team has fallen from perennial favorites to win the UEFA Champions League, Europe's soccer Super Bowl, to ending last season in seventh place in the EPL, only qualifying for the second-tier UEFA Europa League. Team manager Rafael Benitez has since fled to coach F.C. Internazionale Milano in Italy, and several Liverpool players who played for Spain in the 2010 FIFA World Cup are at risk of bolting to other clubs for more money.
All told, HSG Sports Group, which owns the Rangers and Stars and is part of Mr. Hicks' family office, Hicks Holdings LLC, has defaulted on $525 million in debt, said Mark Semer, spokesman for Hicks Holdings in an e-mail in response to inquiries. Liverpool's holding company, Kop Football Holdings, is £237 million ($358 million) in debt, Mr. Semer said.
Repeated attempts to reach Mr. Hicks for comment were unsuccessful.