Former Liverpool co-owner Tom Hicks has died at the age of 79.

The American, who owned the club alongside George Gillett from 2007 to 2010, died surrounded by family at his home in Dallas, Texas.

"Of everything he accomplished in his remarkable life, Tom Hicks' most cherished title was 'Dad'," read a statement from Hicks' six children.

"No matter the trials and tribulations he faced in life, he was constant in his generosity and love for his family.

"He remains a guiding force for our family, and we are deeply honoured to continue expanding his legacy.

"Although we are devastated by this loss, we are profoundly grateful to have been his children."

Hicks and Gillett sold Liverpool to Fenway Sports Group after encountering financial difficulties.

They were widely unpopular with Liverpool fans, running up debts of about £237m and failing to deliver on promises to renovate Anfield or build a new stadium.

In a statement, Liverpool said they send their condolences "to the Hicks family and Tom's friends at this difficult time".

Hicks also owned an ice hockey team, the Dallas Stars, from 1995 to 2011 and a baseball team, the Texas Rangers, from 1998 to 2010.

Under Hicks' ownership, the Stars won consecutive Central Division titles between 1996 and 1998 and the Stanley Cup in 1999.

The Rangers won three American League West Division titles and were runners-up in the 2010 World Series.

Hicks is survived by his wife of 35 years, Cinda.