Kraft in December 2008
|Born||Robert K. Kraft
June 5, 1941
Brookline, Massachusetts, U.S.
|Residence||Brookline, Massachusetts, U.S.|
|Alma mater||Columbia University
Harvard Business School
|Occupation||Chairman and CEO of The Kraft Group|
|Known for||Ownership of the New England Patriots and New England Revolution|
|Net worth|| US $ 4 billion
Board member of
|The Kraft Group, Viacom|
|Spouse(s)||Myra Kraft (1963–2011; her death; 4 children)|
|Children||Jonathan, Daniel, Joshua, David|
Robert K. Kraft (born June 5, 1941) is an American business magnate. He is the Chairman and Chief Executive Officer of The Kraft Group, a diversified holding company with assets in paper and packaging, sports and entertainment, real estate development and a private equity portfolio. His sports holdings include the National Football League's New England Patriots and Major League Soccer's New England Revolution, and Gillette Stadium.
Early life and career
Kraft grew up in an apartment on Fuller St. in Brookline, Mass. He attended the Edward Devotion School on Harvard Ave. before moving on to Brookline High School where he graduated in 1959. He is a 1963 graduate of Columbia University, which he attended on scholarship, and received an MBA from Harvard Business School in 1965. While at Columbia, Kraft joined Zeta Beta Tau Fraternity  and made the school's freshman football team. However due to Sabbath restrictions, he was forced to quit the team and eventually played on Columbia's lightweight football team.
He began his professional career with the Rand-Whitney Group, a Worcester-based packaging company he obtained in 1967 in a leveraged buyout from his father-in-law Jacob Hiatt. He still serves as this company's chairman. In 1972, he founded International Forest Products, a trader of physical paper commodities. The two combined companies make up the largest privately held paper and packaging companies in the United States. International Forest Products is consistently among the top 100 US exporters/importers and in 2011 was No. 27 on the Journal of Commerce's list in that category.
In 1986, Kraft helped a minority business group acquire WNEV-TV, a CBS affiliate in Boston (now NBC affiliate WHDH-TV). He continued his investment in the entertainment field by buying several Boston radio stations. He is a member of a private equity group, which funded film, theatre, and television producer Scott Sanders' company, "Scott Sanders Productions."
Ownership of the Patriots
In 1985, Kraft bought an option on the parcel adjacent to the stadium. The option would be the first in a series of steps which would culminate nearly a decade later in his eventual ownership of the team. Later, in 1988, Kraft outbid several competitors to buy the stadium out of bankruptcy court from Billy Sullivan for $25 million. The purchase included the stadium's lease to the Patriots – which would later provide Kraft leverage in purchasing the team.
In 1992, St. Louis businessman, James Orthwein, purchased the Patriots from Victor Kiam, who was facing bankruptcy and owed Orthwein several million dollars. For the next two years, rumors of a Patriots move to St. Louis were rampant, based on the fact that Orthwein wanted to return the NFL to his hometown, which had lost the Cardinals to Arizona in 1988.
In 1994, Orthwein offered Kraft $75 million to buy out the remainder of the team's lease at the Foxboro Stadium, which, if Kraft agreed, would free Orthwein to move the Patriots to St. Louis. However, Kraft rejected the offer and made a counter-bid—a then NFL-record $175 million for the outright purchase of the Patriots (a surprising move in that the Patriots were, at the time, among the least valuable franchises in the NFL), an offer Orthwein accepted.
The day after the NFL approved the sale on February 22, 1994, Patriots fans showed their appreciation by purchasing almost 6,000 season tickets en route to selling out every game for the first time in the team's 34-year history. Every home game—regular season, postseason, and even preseason—has been sold out since. The Patriots responded by putting together a seven-game winning streak to end the 1994 season, making the playoffs for the first time since 1986. In 1996 Kraft founded the New England Revolution, a charter member of Major League Soccer which began playing alongside the Patriots at Foxboro.
After the failure of a number of stadium plans that included either revamping the area in Foxboro or relocating to Boston or a town near Boston, the Patriots nearly moved to Hartford, Connecticut, in 1999. Plans were also discussed about moving the team to Providence, Rhode Island (where the Providence Place Mall now stands). They reached an agreement with then–Connecticut Governor John Rowland to move to a new stadium intended to be the cornerstone of downtown redevelopment. After Rowland lobbied the Connecticut legislature to approve state funds for the stadium the Patriots were given another opportunity to resume negotiations with the Massachusetts legislators who had initially balked on paying for site improvements for a new stadium in Foxboro. At the last minute the Massachusetts legislature approved the subsidies and hurdles were cleared for what became Gillette Stadium in the Patriots' longtime home of Foxboro. The $350 million stadium, privately financed by Kraft, opened in 2002 as CMGI Field, before financial difficulties for CMGI resulted in Gillette taking over naming rights.
In 2007, Kraft announced plans to develop the land around Gillette Stadium, creating a $375 million open-air shopping and entertainment center called Patriot Place. The development opened in stages through 2007, 2008, and 2009 and included "The Hall at Patriot Place presented by Raytheon", a multi-story museum attached to the stadium, and the "CBS Scene", a CBS-themed restaurant.
The Patriots appeared in Super Bowl XX under their original owners, the Sullivans. Yet, this was one of only six playoff appearances in 33 years. However, since Kraft bought the team, they have made the playoffs 15 times in 20 years. They have also appeared in more playoff games (27) than in the team's first 34 seasons combined (10). The team won AFC East titles in 1996, 1997, 2001, 2003, 2004, 2005, 2006, 2007, 2009, 2010, 2011, 2012, 2013 and 2014; they represented the AFC in the Super Bowl in 1996 (lost), 2001 (won) 2003 (won) 2004 (won) 2007 (lost) 2011 (lost) and 2014 (pending). The Patriots finished the 2003, 2004, and 2010 seasons with identical 14–2 regular-season records, and also finished the 2007 regular season undefeated before losing to the New York Giants in Super Bowl XLII.
Kraft was principally involved in the 2011 NFL labor negotiations. He was credited for being a bridge-builder who brought the two sides closer together and a catalyst in negotiating a historic 10-year agreement. The deal was announced on Monday, July 25, 2011, while Kraft was still mourning the death of his "sweetheart", Myra Kraft, his wife of 48 years, who had died only five days before. In what became an iconic image of the CBA resolution, NFLPA representative and Indianapolis Colts center Jeff Saturday praised Kraft for his role in the negotiations, stating, "without him, this deal does not get done ... He is a man who helped us save football."
In Kraft's first 18 seasons as team owner the Patriots have won 193 regular season games and 19 playoff games (including Super Bowls XXXVI, XXXVIII and XXXIX). The team reached a milestone 200th win (encompassing regular season and playoffs) under Kraft ownership with their third win of 2011, a 30–19 win against the Oakland Raiders.
In 2005, a minor international incident was caused when it was reported that Russian President Vladimir Putin had taken one of Kraft's three Super Bowl rings. Kraft quickly issued a statement saying that he had given Putin the ring out of "respect and admiration" he had for the Russian people and Putin's leadership. Kraft later said his earlier statement was not true, and had been issued under pressure from the White House. The ring is on display with state gifts at the Kremlin.
After selling 3.5 million tickets for the 1994 FIFA World Cup, the Kraft family saw a business opportunity to invest in the new professional soccer league Major League Soccer. In 1995, Kraft became the investor / operator of the New England Revolution from Major League Soccer. The team had a successful run from 2002 to 2007, with four MLS Cup appearances in six years. Kraft attended in person for three of the four appearances, opting for a regular season New England Patriots game instead of attending the 2006 MLS Cup between his Revolution and the Houston Dynamo.
In November 2005, Kraft met with Rick Parry, the Chief Executive of English Premier League team Liverpool. Kraft was rumored to be interested in investing money into the 2004–05 European Champions. Kraft told BBC Radio 5 Live: "Liverpool is a great brand and it's something our family respects a lot. We're always interested in opportunities and growing, so you never know what can happen." Eventually, however, the club was sold to American duo George Gillett and Tom Hicks. Liverpool was eventually sold to another local sports ownership in 2010, New England Sports Ventures, owners of the Boston Red Sox.
The Krafts have donated over $100 million to a variety of philanthropic causes including education, child and women issues, healthcare, youth sports and American and Israeli causes. In 2011, the Krafts pledged $20 million to Partners HealthCare to launch the Kraft Family National Center for Leadership and Training in Community Health, an initiative designed to improve access to quality healthcare at community health centers throughout New England. Among the many institutions the Krafts have supported are Columbia University, Harvard Business School, Brandeis University, The College of the Holy Cross, Boston College, Tufts University, the Belmont Hill School, the Boys & Girls Clubs of Boston, and the Dana Farber Cancer Institute in Boston. One of their most distinctive projects is supporting American Football Israel, including Kraft Family Stadium in Jerusalem and the Kraft Family Israel Football League. In 2007, in recognition of a gift of $5 million in support of Columbia's intercollegiate athletics program, the playing field at Columbia's Lawrence A. Wien Stadium at the Baker Field Athletics Complex was named Robert K. Kraft Field.
He has received numerous honorary degrees from several colleges and universities and was awarded the NCAA's highest honor when he received the Theodore Roosevelt Award, "presented annually to a distinguished citizen of national reputation and outstanding accomplishments."
In 2012, he became the first NFL owner in the 43-year history of the honor to be selected for the George Halas Award by the Pro Football Writers of America. The award is presented annually to the NFL player, coach or staff member who overcomes the most adversity to succeed.
In June 1963, Kraft married Myra Nathalie Hiatt, a 1964 graduate of Brandeis University and the daughter of the late Worcester, Massachusetts businessman and philanthropist Jacob Hiatt. She died from cancer, aged 68, on July 20, 2011. The Krafts were members of Temple Emanuel in Newton, Massachusetts. In her memory, all Patriots players wore a patch on their uniforms bearing Kraft's initials (MHK) throughout the 2011–12 season. They had four sons:
- Jonathan A. Kraft is president of The Kraft Group and the New England Patriots.
- Daniel A. Kraft is president of International Forest Products founded in 1972 by his father.
- Joshua Kraft is president and CEO of the Boys & Girls Clubs of Boston.
- David Kraft
Awards & Recognition
In 2012, ExecReps ranked Robert Kraft as the #3 CEO on ExecRank's Top Chief Executive List.
- "Forbes 400 Richest Americans (2014): #122 Robert Kraft". Forbes. October 5, 2014. Retrieved 2014-10-05.
- Jspace Staf (February 4, 2012). "Jewish Owners Face Off in Super Bowl XLVI". Jspace.
- Andrew Gershman (January 23, 2012). "Bob Kraft: New England Patriots’ Jewish owner". Jewish Journal. Retrieved September 13, 2012.
- Massachusetts Live: "For New England Patriots owner Robert Kraft, an off-season of personal tragedy, professional triumph" By HOWARD ULMAN September 6, 2011
- Notable Alumni
- International Forest Products LLC website: "IFP ranked 27th among largest U.S. exporters and first among New England exporters" May 29, 2012
- Pincus-Roth, Zachary (2007-03-21). "Color Purple Producer Sanders Partners With Disney on Film and Theatre Company". Playbill. Retrieved 2009-09-19.
- Reiss, Mike, "Saturday: Kraft helped save football", July 25, 2011, ESPNBoston.com
- "Super Bowl ring has 124 diamonds". ESPN. Associated Press. 2005-06-30. Retrieved 2009-09-19.
- Smith, Michael David (June 15, 2013). "Putin said 'I can kill someone with this', took Kraft's Super Bowl ring". NBC Sports. Retrieved 2013-06-15.
- Farrar, Doug (June 15, 2013). "Robert Kraft says that Vladimir Putin stole his Super Bowl ring, which the Kremlin denies". Shutdown Corner (Yahoo! Sports).
- Eshchenko, Alla; Karimi, Faith (June 16, 2013). "Russian president: I did not steal Super Bowl ring". CNN.
- Swaine, Jon (June 16, 2013). "Vladimir Putin 'stole a $25,000 ring from New England Patriots owner'". The Telegraph.
- Spokesman for Putin denies he stole Kraft’s Super Bowl ring
- "Kraft admits Liverpool interest". BBC Sport. 2005-11-14. Retrieved 2009-09-19.
- "American Academy of Arts and Sciences to induct 231st Class of Members" (Press release). American Academy of Arts and Sciences. 2011-09-27. Retrieved 2012-09-02.
- Breech, John (April 16, 2013). "Robert Kraft donating up to $100,000 to Boston Marathon victims". CBS Sports. Retrieved April 17, 2013.
- "Myra Kraft, wife of Patriots owner, dies". Yahoo! Sports. July 20, 2011. Retrieved July 21, 2011.[dead link]
- Gershman, Andrew (January 23, 2012). "Bob Kraft: New England Patriots'Jewish owner". The Jewish Journal of Greater Los Angeles.
- "Pats' season, dedicated to Myra Kraft, continues to Super Bowl". National Football League. January 22, 2012.
- "Philanthropist Myra Kraft dies". ESPN July 20, 2011
- Boston Business Journal: "Josh Kraft: Someone to look up to" by Mary Moore November 17, 2008
- Shanahan, Mark; Goldstein, Meredith (September 10, 2012). "Bob Kraft, Ricki Noel Lander hit US Open". The Boston Globe.
- Shanahan, Mark; Goldstein, Meredith (July 12, 2012). "Robert Kraft and girlfriend Ricki Noel Lander arm in arm Thursday at Sun Valley media conference". The Boston Globe.
- May, 2013 ExecRank Top CEOs http://execrank.com/2013/04/top-private-ceos/
|Wikimedia Commons has media related to Robert Kraft (businessman).|
- New England Patriots biography
- New England Revolution biography
- The Kraft Group
- Forbes 2011: The 400 Richest Americans: #263 Robert Kraft
- Forbes 2008: The 500 Largest American Private Companies: #326 The Kraft Group
- Forbes 2011: The World's Billionaires: #833 Robert Kraft
|Theodore Roosevelt Award (NCAA)
|New England Patriots Principal Owner