Billy Joe “Red” McCombs, a longtime businessman in Texas who used to own two NBA teams and an NFL team, died at his home in San Antonio on Monday, his family said in a statement. McCombs died at 95, and his wife Charline died in 2019.
According to the statement that called McCombs “a Texas icon” –
“The entire McCombs family is heartbroken to announce that our father, grandfather and great-grandfather, Red McCombs passed away Sunday, Feb. 19, 2023.”
“Red was a visionary entrepreneur who touched many lives and impacted our community in immeasurable ways.”
“But to us, he was always, first and foremost, ‘Dad’ or ‘Poppop.’”
According to the McCombs Enterprises website, McCombs owned more than 400 businesses during his life. The McCombs School of Business at The University of Texas at Austin is named after him.
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He was the owner of the NBA’s San Antonio Spurs twice. In between, he owned the NBA’s Denver Nuggets and then the NFL’s Minnesota Vikings. In a statement, the Vikings thanked McCombs and said they were sorry for his family’s loss.
“Red embodied his famous ‘Purple Pride’ phrase and remained a staunch Vikings fan” after selling his ownership of the team, according to the statement.
The statement said –
“While Red had a clear passion for sports, it was evident what he loved the most were his children and grandchildren.”
McCombs was also a big part of the return of Formula One to the United States. He was one of the biggest investors in the Circuit of the Americas in Austin, which was the first F1 racetrack built in the U.S. and has hosted the U.S. Grand Prix since 2012.
The annual grand prix in Texas and the Texas circuit were important parts of the global racing series’ efforts to build a strong presence in the U.S. In 2023, there will be Formula One races in Austin, Miami, and the first-ever Las Vegas Grand Prix.
In the early 1950s, he worked as a car salesman in Corpus Christi, Texas. Later, in San Antonio, he set up Red McCombs Automotive, a group of dealerships.
Later, he started an oil and gas business called McCombs Energy. He also ran real estate and land development businesses, cattle ranches, and breeding operations. He also helped start Clear Channel Communications, which later changed its name to iHeartCommunications, Inc.
Jerry Jones, the owner of the Dallas Cowboys, said that McCombs was an inspiration and a “true Texas titan” in sports, media, business, and giving back to the community. Jones said –
“Red’s determination, accomplishments and positive spirit will live forever as he embodied a relentless and passionate approach to life, relationships and community.”
McCombs is survived by her daughters Lynda McCombs, Marsha Shields, and Connie McNab, as well as her eight grandchildren and eleven great-grandchildren. No word was given on funeral arrangements.
