MBA Exec MBA Texas BBA Bus. Three of the state's most prominent professional sports team owners tackled topics ranging from player salaries to public financing of stadiums in a panel discussion at the University of Texas business graduate school Wednesday. Rangers and Stars owner Tom Hicks predicted that the number of Major League Baseball teams will be reduced because of lack of support in various markets. San Antonio resident and Minnesota Vikings owner Red McCombs, who wants a new stadium, said Baltimore Ravens owner Art Modell was right to move the team from Cleveland years ago for lack of local financial support.
Sport is a business of passion.
The discussion was part of the MBA Executive Lecture Series at the university's McCombs School of Business named after panelist McCombs. Both men are major UT benefactors. Somebody was going to pay him and we locked him up for 10 years. And it works within our business model. Even with the deal accounting for about one-fourth of the Rangers' payroll this year, Mr. Hicks said, player salaries will take up about half of total revenue and still allow a 10 percent to 15 percent return.