Robert Kraft began his business career with Rand-Whitney Group, which was a packaging company that his father-in-law owned. Kraft eventually bought the company, and he remains the company chairman. A few years later in 1972, Kraft founded International Forest Products. He combined both businesses and became the owner of the largest private packaging company in the United States.
Robert Kraft has always been a huge Patriots fan and has been a season ticket holder since 1971. In 1988, Robert Kraft successfully bought the Patriots stadium for only $22 million. In the following years, the New England Patriot organization considered moving to a new city but were unable to break the stadium lease from Kraft. In 1994, Kraft was able to purchase the team at a then record price of $172 million.
A few years later, Robert Kraft privately funded a new stadium for $350 million, which is unlike the majority of NFL stadiums that are partially financed by the public. The stadium was designed to hold 68,000 fans and became known as Gillette Stadium. Every Patriot game has been sold out, whether it was the pre-season, regular season, or the playoffs. A few years after Gillette Stadium was built, Robert Kraft created a shopping center and entertainment area on the land surrounding the stadium. It is known as Patriot Place and has contributed significantly to the franchise.
Currently, the Patriots rank as the second most valuable franchise in the National Football League at $3.4 billion. The Dallas Cowboys are ranked number one at $4.2 billion. As you can see, Robert Kraft made a great business deal when he was able to purchase the Patriots for only $22 million in 1988.
The Patriots have experienced an unparalleled amount of success under the ownership of Robert Kraft. They have competed at a high level each year, winning five out of seven Super Bowls. The Patriots have also won their division 16 times under Kraft’s ownership. Of course, none of this would be possible without hiring future hall of fame coach Bill Belichick. He has created a culture of accountability and teamwork that is a model for all NFL locker rooms. Tom Brady has also played a large part in the success of the Patriots. He has developed from an unknown quarterback from the University of Michigan to becoming one of the very best quarterbacks in the NFL. His legacy was further cemented this past Super Bowl, as he led the Patriots to an epic comeback against the Atlanta Falcons.
The Patriots have experienced an extraordinary amount of success under the ownership of Robert Kraft. He has turned a once lowly franchise into a modern day NFL dynasty. They compete each year for championships, as they have become one of the most successful NFL teams on and off the field. Robert Kraft has a built a solid foundation and culture that will help the Patriots compete for many years in the future