The Stars are one of the NHL's most successful franchises of recent years.

The following year, they reached the NHL's showpiece series again, going down 4-2 to the New Jersey Devils.

Hicks, who also owns baseball's Texas Rangers, has hired JP Morgan Securities to explore and manage the sale of the Stars.

He said: "As much as I love hockey and the Stars, I have met and exceeded the goals I set six years ago.

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"After much thought and private discussion with my family, I have decided this is an appropriate time to become a one-team owner rather than a two-team owner.

"We will take as long as needed to explore a sale, and if the right owner does not step forward, I won't sell."

His announcement comes just over two months after he paid out $45m over five years to sign prized free agent Bill Guerin away from the Boston Bruins.

The Stars missed the play-offs last season for the first time under Hicks' ownership, which led to the firing of coach Ken Hitchcock midway through the campaign.

Hicks' Southwest Sports Group purchased the Stars in 1996 for $84m.

JP Morgan refused to specify a proposed sale price, saying only that the Stars are among the NHL's leading franchises.