Who is Robert Kraft?

Robert Kraft is the CEO of The Kraft Group, a company which holds diverse assets such as the New England Patriots, Gillette Stadium, New England Revolution and more. He was born on June 5, 1941, in the town of Brookline, Massachusetts. He attended Columbia University on a scholarship, graduated in 1963 and is currently a trustee emeritus.

He began working for the packaging company Rand-Whitney Group, before moving on and founding his own paper products business, International Forest Products, in the early 1970s. Today, both companies make up a huge portion of the American paper and packaging industry.

It wasn’t until 1986 that Robert Kraft began investing in television and entertainment. First, he acquired WNEV-TV, which is now known as WHDH-TV. Then he purchased several radio stations based in the Boston area.

Robert Kraft was originally a fan of the Giants, but he soon came to like the Patriots as well. In the beginning, he bought a parcel of land nearby their stadium. Only many years later was he able to purchase the stadium itself. This came about in 1988. The previous owner was suffering a bankruptcy and so it had gone up for auction. Robert Kraft outbid the other would-be buyers and purchased the stadium for $25 million.

Although Kraft owned the stadium, he did not own the Patriots team at that time. In 1992, the Patriots were owned by James Orthwein, who had purchased the team from Victor Kiam. Two years later, in 1994, Kraft purchased the team for $175 million. This price tag came as a shock to many, as the team was not nearly as popular then as it is now. It was considered to be one of the least valuable teams in the league. After the sale was announced, Patriots fans purchased nearly 6,000 tickets. Refer to this article for additional information.

 

More about Kraft on https://www.pro-football-reference.com/executives/KrafRo0.htm

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