Robert Kraft Bought the Patriots in 1994
Robert Kraft bought the New England Patriots in 1994 for $172 million from James Orthwein, acquiring the franchise, Sullivan Stadium, and a package of NFL television rights. The purchase was finalized on January 21, 1994, and Kraft immediately began modernizing the team's business operations and stadium strategy, a move documented by Forbes in its franchise valuation reports Forbes NFL valuations.
Before the Patriots acquisition, Kraft built his fortune through paper and packaging conglomerates, founding International Forest Products in 1972 and later building the Kraft Group, which spans real estate, private equity, and sports holdings. The Patriots purchase became the cornerstone of his sports portfolio, which also includes ownership of the New England Revolution of MLS and multiple other sports and entertainment assets.
Patriots Value and Kraft's Net Worth
The New England Patriots are currently valued at approximately $7.1 billion, ranking among the most valuable NFL franchises, according to the latest Forbes NFL franchise valuations Forbes NFL valuations. The franchise has won six Super Bowls under Kraft's ownership, generating sustained revenue from media deals, ticket sales, and merchandise.
Robert Kraft's net worth is estimated at over $12 billion by Forbes, driven by the Patriots' appreciation, the Kraft Group's diversified holdings, and his private equity and real estate investments. His ownership structure centers on Kraft Group Properties, which manages the team, Gillette Stadium, and surrounding development projects in Foxborough, Massachusetts.
Ownership Structure and Recent Developments
Kraft Group and Corporate Holdings
The Kraft Group, controlled by Robert Kraft, holds the Patriots through a layered corporate structure that includes limited liability companies registered in Delaware and operating entities based in Massachusetts. This setup is typical for NFL ownership and provides asset protection, estate planning flexibility, and clear governance for the franchise's business operations.
Robert Kraft remains the principal owner and controlling figure of the Patriots, with the team's governance documented in NFL ownership filings and periodic disclosures to the league office. The franchise continues to operate as a central pillar of the Kraft Group's sports and entertainment division, alongside investments in logistics, real estate, and private equity SEC Edgar filings.