Ex-Texas Rangers Owner Hicks Reaches Accord With Administrator

Tom Hicks, the former owner of the Texas Rangers, settled litigation with the Major League Baseball franchise’s post-bankruptcy plan administrator who last year accused him of misdirecting money, according to a court filing.

Administrator Alan M. Jacobs last year accused Hicks of diverting “tens of millions” of dollars from the team toward the purchase and development of parking lots near the Rangers’ Arlington ballpark.