Red McCombs facts for kids
Quick facts for kids
Red McCombs
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|---|---|
| Born |
Billy Joe McCombs
October 19, 1927 Spur, Dickens County, Texas, U.S.
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| Died | February 19, 2023 (aged 95) San Antonio, Texas, U.S.
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| Occupation | Businessman |
| Spouse(s) |
Charline Hamblin McCombs
(m. 1950; died 2019) |
| Children | 3 |
| Relatives | John Shields (son-in-law) |
Billy Joe "Red" McCombs (October 19, 1927 – February 19, 2023) was an American businessman. He was known for starting the Red McCombs Automotive Group in San Antonio, Texas. He also helped create Clear Channel Communications, which is now called iHeartMedia.
Red McCombs was also famous for owning several professional sports teams. These included the San Antonio Spurs and Denver Nuggets basketball teams, and the Minnesota Vikings football team. The McCombs School of Business at the University of Texas at Austin is named after him because of his generous donations. He was even listed among the richest people in the world by Forbes magazine.
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Early life and nickname
McCombs was born in a rural area of Spur, Texas. This town is in Dickens County in West Texas. He got the nickname "Red" because of his hair color.
His father worked as a mechanic and earned $25 each week. Even with little money, his parents always shared what they had with others. McCombs remembered seeing them "share with those who had less." This taught him the joy of giving.
Building businesses and helping others
In 1958, McCombs moved to San Antonio with a friend, Austin Hemphill. They started a car dealership called Hemphill-McCombs Ford. This business grew into the large Red McCombs Automotive Group we know today.
McCombs believed in giving back to his community. He served as the chairman for the University of Texas's M. D. Anderson Cancer Center in Houston. He was very touched by the kindness of the hospital staff when he visited a sick friend there. In 2005, he donated $30 million to the hospital to help them continue their important work.
He also made a huge donation of $50 million to the business school at the University of Texas. Because of this gift, the school was renamed the Red McCombs School of Business. His donation helped the school get another $100 million in matching funds. This money created new teaching jobs, special programs, and scholarships for students.
McCombs was also part of the Alamo Endowment Board. This group works to protect and manage the historic Alamo Mission in San Antonio. He wanted to make sure the Alamo's story was told well for future visitors.
Owning sports teams
Red McCombs played a big part in bringing professional sports to San Antonio. He helped get the HemisFair Arena built, which was key for the San Antonio Spurs. He even talked to important people like Lee Iacocca from Ford Motor Company and U.S. President Lyndon B. Johnson to get support for the arena.
In 1973, the Dallas Chaparrals basketball team moved to San Antonio and became the Spurs. McCombs understood how important television was for sports. He saw a chance to make San Antonio famous on a national level. Under his leadership, the Spurs got their first superstar player, George Gervin, also known as "The Iceman."
After the Spurs joined the NBA, McCombs sold his share. He then bought another basketball team, the Denver Nuggets. He owned them until 1985. In 1998, he bought the Minnesota Vikings football team for $250 million. He later sold the Vikings in 2005.
McCombs also loved horse racing. For many years, he was a major partner in Walmac Farm, a well-known horse breeding farm in Lexington, Kentucky. He was also one of the first people to invest in the Circuit of the Americas, a famous racetrack in Texas. In 2020, a corner of the track was named "Big Red" in his honor.
Personal life
Red McCombs was married to Charline Hamblin for many years. She passed away in 2019. Red McCombs himself died at his home in San Antonio on February 19, 2023.
Awards and honors
- Texas Treasure Business Award for creating jobs in Texas
- Distinguished Alumnus of The University of Texas at Austin
- San Antonio Citizenship Award
- Induction into the San Antonio Business, Texas, Texas Philanthropy, and San Antonio Sports Halls of Fame
- Minnesota Business and Opportunities Magazine Man of the Year
- Texas Business Hall of Fame in 1998
- Golden Plate Award of the American Academy of Achievement in 1999
- National Football Foundation and College Hall of Fame Gold Medal in 2001
