The roots of the HCSB can be traced back as early as 1984, when Arthur Farstad, general editor of the New King James Version of the Bible, began a new independent translation project.
In 1998, Farstad and LifeWay Christian Resources (the publishing arm of the Southern Baptist Convention) came to an agreement that would allow LifeWay to fund and publish the completed work. Farstad died shortly thereafter, and leadership of the editorial team was turned over to Dr. Edwin Blum, who had been an integral part of the team. The death of Farstad resulted in a change in the Greek New Testament text underlying the HCSB, although Farstad had envisioned basing the new translation on the same texts used for the original King James Version and New King James Version.
After Farstad's death, the editorial team replaced this text with the Greek New Testament as established by modern scholars.[2] The editions of the United Bible Societies and of Nestle-Aland's Novum Testamentum Graece were those primarily utilized, along with readings from other ancient manuscripts when the translators felt the original meaning was not clearly conveyed by either of the primary Greek New Testament editions.
http://en.wikipedia.org/wiki/HCSB