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The Patriots have plaved in two AFC Championship Games on January 21, but for newsworthy is today being the 32nd anniversary of Bob Kraft buting the team, and 33rd anniversary of Bill Parcells being hired to replace **** MacPherson as head coach.
Friday, January 21, 1994
Robert Kraft purchases the New England Patriots from James Orthwein.
As a point of reference, as of September 2025 Forbes placed the franchise value at $9 billion.
(Note: the Business Insider article above was written in 2014, so those numbers have vastly changed since then.)
Today in Patriots History
Paper & Packaging executive Robert Kraft
becomes fourth owner in franchise history
Buys team from James Orthwein
Paper & Packaging executive Robert Kraft
becomes fourth owner in franchise history
Buys team from James Orthwein
Friday, January 21, 1994
Robert Kraft purchases the New England Patriots from James Orthwein.
Kraft Anniversary Historic Event For Patriots | PatsFans.com
To fully appreciate the Patriots, you have to know the entire history. All 58 years.
www.patsfans.com
Monday, January 21st marks the 25th anniversary of Robert Kraft, who at the time owned Schaefer/Sullivan/Foxborough Stadium, purchasing the Patriots from James Busch Orthwein. Fearful that Orthwein would move the Patriots to his hometown of St. Louis, Kraft used his ownership of the stadium and the lease he made the Patriots sign as leverage to buy the team. He paid $172 million for the team, stupid money at the time which sent his late wife Myra into a fit of anger.
Robert Kraft's Gutsy Investment In The New England Patriots Has Paid Off Big Time
Robert Kraft purchased the Patriots for $175 million.
www.businessinsider.com
In 2000, the Patriots were considered just a slightly above average team with a value of $464 million compared to the average NFL team ($423 million). Since then, the value of the Patriots has increased 460% while the average NFL team has increased 237%.
As a point of reference, as of September 2025 Forbes placed the franchise value at $9 billion.
(Note: the Business Insider article above was written in 2014, so those numbers have vastly changed since then.)
Patriots sold, will stay in New England - UPI Archives
James B. Orthwein announced Friday he has sold the New England Patriots to Robert Kraft, the owner of the stadium in Foxboro, Mass., where the team now...
www.upi.com
The sale assures that the Patriots will remain in New England and ends months of speculation that the team would be moving to another state. Groups in Baltimore, St. Louis and Connecticut had sought to buy the team. The Patriots enjoyed a resurgence of local interest after they finished the season with four straight victories.
Orthwein purchased the team from razor manufacturer Victor Kiam in May, 1992, at a time when he said the Patriots were viewed generally as losing franchise. 'We changed all of that,' Orthmwein told reporters.
Orthwein said he tried to do 'what was right' for the team and the fans. Among other things he pointed to was the hiring the coach Bill Parcells and thesigning of rookie Drew Bledsoe, who Orthwein said will be the next superstar quarterback in the NFL.
Orthwein, who had hoped to get an expansion team for St. Louis, put the Patriots up for sale in December. Orthwein considered moving the Patriots to St. Louis, but said he preferred to sell the team outright to a local owner who would keep it in New England. 'As much as I wanted the team for St. Louis, this community showed how much it wanted to keep the team here.'
Just what the sale means as to the proposed megaplex, which is to be a sports stadium and convention center in downtown Boston, remains to be seen. Some said the prospects for the megaplex to be built are actually improved by the sale to Kraft. Orthwein said legislative leaders have assured him they will continue to support the megaplex proposal.
'I have been assured the megaplex plan will go on' and the 'long term viability of the Patriots will be assured.'
Kraft recalled how bad he felt when the Braves left Boston in 1948, and how sad his friends in New York were when they lost the Dodgers and Giants, and he did not want that to happen here again. 'This was a unique opportunity to fulfill a dream and I hope serve part of the best interest of the community,' Kraft said. 'Some people think it is silly to spend so much money for a team, but this team really impacts the psyche of the community, and it would not have been the same if the team had left here.'
Robert Kraft and the Patriots: From Fan to Owner, From Losers to Dynasty, in 25 Years
Monday will mark a quarter-century since Robert Kraft bought the Patriots, turning around a franchise’s fortunes and changing NFL history.
www.si.com
Robert and Jonathan completed the sale in a conference room in St. Louis in 1994, before hustling to the airport. They had to fly home to tell Myra that they’d spent $172 million, or more than anyone had paid for a team in NFL history, before the news broke. Kraft, his son says, had to bribe airline officials to get them on the next flight back to Boston, and they had to slide some extra cash to their fellow passengers to obtain two seats next to each other. When they got home, the phone rang. It was a lawyer offering Kraft three times the money that he had paid six years earlier for the stadium lease; they wanted to move the team out of Massachusetts. Kraft thought back to the heartbreak he felt as a kid when the Boston Braves were uprooted to Milwaukee, and he refused. Myra was livid.
Startin’ Somethin’: Robert Kraft, Purchasing the Patriots and The Jacksons?
One of pop music’s most famous families played an unwitting, yet pivotal role in Robert Kraft’s purchase of the Patriots.
www.si.com
As both a successful and savvy businessman, Kraft had purchased a 10-year option on Foxboro Raceway, a horse-racing track adjacent to the stadium. Knowing the Sullivans owned the stadium but not the surrounding land, his purchase became the catalyst for Kraft to purchase not only the stadium, but also the team and the Patriots.
Conversely, Sullivan's family was in need of financial relief, reeling from a series of bad investments — one of their most high-profile fiscal misfires being The Jacksons 1984 Victory Tour, for which they had to pledge Sullivan Stadium as collateral. Those problems ultimately forced Sullivan to sell controlling interest in the team in 1988, while the stadium lapsed into bankruptcy.
Kraft outbid several competitors to buy the stadium out of bankruptcy court for $22 million later that same year. The purchase also included the stadium's lease to the Patriots, which ran through 2001. Though he also placed a bid on controlling interest in the franchise, Kraft lost the bidding to entrepreneur Victor Kiam.
Kiam, in conjuction with Sullivan, almost immediately explored a potential move of the team to Jacksonville, Florida. However, Kraft refused to let the team owners break the lease. Kiam, who also was wrought with financial difficulty from previously unsuccessful investments, was unable to sustain a prolonged legal battle. As a result, he and Sullivan sold the Patriots to businessman James Orthwein in 1992.
Orthwein, a native of St. Louis, Missouri, had designs on re-locating the Patriots after the 1993 season. In fact, exploratory measures were already in motion to re-name the team the St. Louis Stallions.
As with the Kiam-Sullivan accord, Kraft’s control of the stadium’s lease was Orthwein’s primary roadblock. Despite the then-owner’s offer of $75 million to buy out the remainder of the team's lease at Foxboro Stadium. Kraft turned it down. Unable to relocate, and uninterested in operating the team in New England, Orthwein ultimately decided to sell his relatively newly-purchased franchise.
What pro tennis taught Robert Kraft about owning the Patriots
Friday marked the 25th anniversary of one of the most pivotal days in Patriots history. On Jan. 21, 1994, Robert Kraft formally transitioned from Patriots season-ticket holder to Patriots owner, though he was far from just another yahoo sitting on Foxboro Stadium’s classic metal bleachers by...
www.boston.com
“I’d rather finish first with no superstars than finish last [with them],” Kraft told the Globe after the 1976 season. “Big names are necessary to the gate, but a winning team is more important than a superstar. … We have a tremendous product to sell. It’s just a matter of having people taste it.”
And it was likely with that in mind when Kraft made his next big moves. Kraft hired 12-time Grand Slam singles winner Roy Emerson as the Lobsters’ player-coach for 1977, giving the Australian full control to choose his team, then paid $50,000 to acquire the rights to Martina Navratilova, then just 20 but already the No. 2 women’s player in the world.
“She made a big difference. When we switched to Roy Emerson as a coach, he knew how to bring out the best in her. She won a Wimbledon championship while she was part of the Boston Lobsters,” Kraft told Howe. “To enhance our gate in the summertime, we used to play a few matches down in Cape Cod because our family was there. It was pretty cool. I remember her coming from Wimbledon on global TV to the Cape Cod Coliseum. I had a chance to get close to her, and I realized how important it is to have a marquee star. The combination of the business aspect, the coaching and the star, I learned from World Team Tennis.”
Remembering when the Patriots almost became the St. Louis Stallions
Sunday marked the 30th anniversary of Robert Kraft’s purchase of the New England Patriots. Kraft purchased the franchise on January 21st, 1994 from then owner James Busch Orthwein. Kraft had …
nefootballjournal.com
Robert Kraft reflects on 25th anniversary of becoming Patriots owner
As the Pats prepare for their 14th AFC championship game Sunday under Kraft, he discusses his motivation to buy the team and the legacy he's created.
www.espn.com
VIDEO: Throwback Thursday - The Day Robert Kraft Bought The New England Patriots | PatsFans.com
A look back at Robert Kraft's purchase of the New England Patriots 27 years ago today.
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