American Entrepreneur Robert Kraft

Robert Kraft is an American businessman and sports personality. Born in 1941 in Massachusetts, the entrepreneur established the Kraft Group in 1998. The firm serves as a holding corporation for a variety of businesses. He also owns the New England Patriots, one of the flourishing teams in the National Football League (NFL).

Kraft did his degree at Columbia University before proceeding to Harvard Business School for his M.B.A., completed in 1965. He worked at his father-in-law’s packaging company before buying half of it in 1968 and taking over in 1972. In 1972, Robert Kraft established International Forest Goods, that would deal in forest products. His Kraft Group company would act as a holding firm for his other businesses and diverse family ventures in various sectors.

Kraft’s first sports purchase was in 1975 when he bought the Bolton Lobsters, a team that played in the World Team Tennis (WTT) league. However, the team went under in 1978. Robert Kraft then bought the Bolton Lobsters in 1994, paying almost $172 million to acquire the franchise. At that time, this was the record price for an NFL team. The previous owner had purchased the club in 1992 but could not develop them as his efforts to relocate the team to St. Luis were not successful.

The Patriots displayed significant improvement in the 1994 season, qualifying for their first-ever playoff in almost eight years. Two years later, the team participated in the Super Bowl, having done so only once before. Kraft’s decision to recruit Bill Belichick as the head coach paid off as he transformed the club into one of the most formidable NFL sides, winning the Super Bowl six times between 2002 and 2019.

With this success, Robert Kraft relocated the team from Foxboro Stadium to Gillette Stadium. He also built an entertainment and business complex next to the club’s new home. See this page for related information.

 

More about Kraft on https://www.patriots.com/team/front-office-roster/robert-kraft