A Lengthy Profile of Tom Hicks in Which He Discovers Sports Teams Are Not Soft Drinks
Which has been Hicks's plan all along, he tells Schoenfeld in the 5,100-word profile. "This was never going to be a dynastic asset," he insists, meaning: He always bought with the intention of selling.
Grab your coffee. It's a long read, but worth every word -- very Fake Tom Hicks. Need proof? An excerpt:
What matters most to Hicks is the ultimate feedback of a big black number on his financial statement, and all three of his investments in sports franchises are primed to pay him handsome returns. That goes a long way toward mitigating the carping and criticism. "I've been doing high-risk, high-return investment since 1977," he said, leaning back in a chair at his home after a steak lunch cooked by his private chef. "It's all I've ever done. So I'm used to having some deals be great and some not work out. I don't get devastated because, at the end of the day, whatever happens, it's a deal. These are sports teams, so I have to read about it in the newspaper. That's the only difference."