Ex-Rangers owner Hicks settles over failed project
Former Texas Rangers owner Tom Hicks has settled a pair of lawsuits related to a failed multimillion-dollar development project near Rangers Ballpark in Arlington
The lawsuits were brought by companies involved in the plans for a 75-acre shopping and restaurant district dubbed GloryPark Town Center. It was envisioned as a destination for visitors to Rangers Ballpark in Arlington and neighboring Cowboys Stadium, as well as a draw outside of games.
After several years of work, Hicks had to place the project on hold in 2008 due to problems with financing.
The two lawsuits sought more than $21 million in restitution for already completed work as well as damages. The lawsuits accused Hicks of not being clear about financing problems while work was being done and not following through with a commitment to transfer land for the project, land now used as parking lots for Rangers games.
Hicks once also owned the NHL's Dallas Stars and the Liverpool soccer team of the English Premier League. Financial problems eventually forced the Dallas developer to sell all three teams.
His attorney, Lewis LeClair, confirmed the GloryPark settlements Wednesday but declined to comment on details.
''Tom Hicks is trying to move on from the Texas Rangers and get things cleaned up,'' LeClair said. ''And he's satisfied with the settlement.''
One lawsuit, brought by the architecture firm RTKL Associates and construction company VCC, was dismissed Sept. 4 following a settlement, according to online court records. RTKL and VCC said they worked on the rezoning necessary for the city of Arlington to approve GloryPark as well as two parking garages for the development.
The other lawsuit, brought by developer Steiner & Associates, was settled earlier this month, an attorney for Steiner said. That lawsuit sought more than $14 million in restitution for work that wasn't reimbursed.
Both settlements were first reported by the Fort Worth Star-Telegram.
Darrell Adkerson, one of the attorneys involved, also declined to discuss details of the settlements.
Under Hicks' ownership, the Rangers filed for bankruptcy two years ago and have since been sold to a group that includes team president Nolan Ryan.