Legendary Owner Robert Kraft Reveals What Drove Him To Buy the New England Patriots

Most NFL owners buy teams for business reasons. Robert Kraft bought the New England Patriots because he couldn’t stop dreaming about it. That $172 million purchase in 1994 wasn’t just about saving a franchise from relocating to St. Louis. It was about a former college safety who never gave up on his biggest dream.

What Motivated Robert Kraft To Buy the Patriots in 1994?

Kraft was a football fan and a player before becoming a businessman. He played safety on lightweight football teams at Columbia University but ultimately chose business and started his career at Rand-Whitney Group, a packaging company, which laid the foundation for his success.

However, Kraft’s love for football never faded. Before the Patriots were formed in 1959, he was a New York Giants fan. While he couldn’t play professionally, Kraft started dreaming of buying a football team, and through a series of investments that worked out well, he eventually fulfilled his dream in 1994.

“I had the privilege of playing a little football in college,” Kraft recalled at Fanatics Fest in NY. “It’s the sport I loved. The Patriots weren’t created till 1960. I used to watch the New York Giants, who were like my home team, because that was televised up in Boston, and I just loved football. And I dreamt about one day trying to buy the team.

“I had a greater chance to be a starting quarterback in the NFL cause there are 32 teams than owning a team, cause you look at the Steelers, the Giants, the Bears, same family for a hundred years. So, you know, in ’85 I picked up the land. In 88, I bought the stadium out of bankruptcy. In 94, we kept the team from moving to St. Louis. And it was a great moment in my life to be able to buy that team and live a big dream.”

How Did Kraft Position Himself to Buy the Patriots?

Kraft’s path to ownership wasn’t straightforward. He bought a 10-year option for the former Foxboro Raceway (now known as Bay State Raceway) in 1985. The raceway sat near the Patriots’ old home venue of Schaefer Stadium, adjacent to the football venue. Billy Sullivan owned the stadium and the Patriots, but not the raceway. That’s when Kraft swooped in and claimed the land.

This bold move eventually positioned Kraft to buy out the stadium from bankruptcy in 1988 and later the franchise in 1994. While he didn’t expect to pay $172 million, Kraft had been a season ticket holder for several years, and his love for the team eventually convinced him to pay big. And it paid off big time.

The New England Patriots are arguably the most successful franchise of the last three decades. They are currently valued at $7.4 billion, making them the third-most valuable franchise in the NFL behind only the Dallas Cowboys and the Los Angeles Rams, per Forbes.

As the Patriots’ owner, Kraft has played a pivotal role in the franchise’s rise to global prominence. He bought it for $172 million in 1994, the highest amount spent on a franchise then, saving it from relocating to St. Louis. But that wasn’t the only motivation behind his purchase, and the team wasn’t even in a condition to justify such a high amount.

Since then, Kraft has turned New England into an iconic sports brand armed with an NFL record-tying six championships alongside the Pittsburgh Steelers.

“I say to everyone out there, especially the young people, dream big, and when it doesn’t go your way, keep coming back like the tide. And you’ll be surprised. Most people don’t persevere. And that’s part of the key to success in life,” he concluded.