Originally from Long Island, New York, Corbett made a fortune in the oil business by producing and selling plastic PVC piping.

He had moved to Fort Worth, Texas in 1968 and within two years had become a millionaire at the age of 32 after first securing a $300,000 Small Business Administration loan.

[3] Serving as (in effect) his own general manager, he quickly set about spending a great deal of money on free agent players.

This was during the advent of the free agency era and soon Corbett had signed such high-priced players as Bert Campaneris, Doyle Alexander, Doc Medich, Richie Zisk and Mike Jorgensen and traded for expensive talent like Bobby Bonds, Al Oliver and Jon Matlack.

[4] He cried openly after the Rangers lost on July 4, 1977[5] and told the assembled news media, "I'm selling this team because it's killing me!