McCombs would marry his wife Charline in 1950. During his early career, Red worked as a salesman at George Jones Ford in Corpus Christi. Using lessons learned from his time there, McCombs would move to San Antonio in 1958 and lay the foundation for what would eventually become the Red McCombs Automotive Group.
While McCombs' business career has been successful, Red has always been incredibly generous with his time and gifts. One of the areas McCombs has been most involved is sport.
Over his sports career, Red has been the owner of the San Antonio Spurs, the Denver Nuggets and the Minnesota Vikings. McCombs was also the primary backing for bringing Formula One to Austin, Texas with the Circuit of the Americas. Red has also worked with other sporting projects around the state and continues to be actively involved with the University of Texas' Athletics Department
In 2006, McCombs became the Inaugural recipient for the TSHOF's Lamar Hunt Lifetime Achievement Award.
The award established was established to honor an individual who has achieved special acclaim by being influential in enhancing Texas sports and Texas sports history. The criteria include having had, through the course of one’s life, a significant and positive impact on the landscape of Texas sports.
In 2014, the Texas Sports Hall of Fame Great Hall was named the Red & Charlene McCombs Great Hall for their generous contributions to Texas Sports History.