On January 21st, 1994, professional football in New England was fundamentally changed. The Kraft Group, headed by Robert Kraft, bought the Patriots for $175 million. Looking back on the monumental development from the safe vantage point of 2014, it's easy to forget two things in particular.
First, the price tag, though it appears astronomically low by current standards, was actually the largest amount of money ever paid for an NFL team at the time . And second, the Patriots in 1994 weren't remotely similar to the on-field product that they are now.
To that first point, the supposedly high price that was paid for the team now appears a bargain, given that Forbes recently ranked the Patriots the second most valuable NFL franchise in the league, worth more than $1.8 billion.
Also, consider that in the Kraft ownership era (20 NFL seasons), they've won more games than the team did in the total team history prior to 1994 (a period of 34 years).And despite buying a team that, for the previous five seasons from 1989-1993 before their ownership, had compiled the worst five year record in the NFL, the Patriots have endured only two losing seasons since.
In that time, they've encountered and overcome a series of underrated difficulties. Take, for example, the case of Bill Parcells. The Hall of Fame coach, one of the greatest motivators in NFL history, was already installed as coach when the Krafts bought the team. A domineering personality, managing him proved difficult, even for the hands-off approach that Kraft (and later his son, Jonathan) have generally practiced in many aspects of the actual football management side of the business.
It was a difficult path to negotiate for the new owners in that period (1994-1996), considering that they were hard-pressed to stand up to the coach who was finally bringing wins to New England again.Yet, as they've never been afraid to do, the Krafts decided it was time to move on from Parcells. As history has shown, they've been vindicated in that decision.
Correspondingly, here's another underrated aspect of their tenure: Since arriving, they've only hired coaches who have won Super Bowls (a stat officially achieved as of earlier this year, when former Patriots coach Pete Carroll won with the Seahawks).
True, Carroll's tenure in New England was not ultimately successful. But he possessed an undeniable talent for motivating, much like Parcells. And the Kraft's realized that. Their eye for talent is indisputable, considering that Carroll's successor (Belichick) has established one of the NFL's modern dynasties.
On the business side, they've proven innovative and resourceful. Jonathan Kraft, now serving as President of the Kraft Group, was instrumental in solving the CBA negotiations in 2006, while Robert helped to orchestrate a bridge in the owners and the NFLPA during the lockout in 2011.
Even the installation of a new stadium was orchestrated in a professional way. Gillette Stadium, completed in 2002, was 100 percent privately funded, a remarkable achievement that few others have been able to accomplishment with such a vast project. And, as one might expect, there is a professional business plan installed for succession. With Jonathan now sitting as president of the group, it doesn't appear that the Patriots will be in ownership turmoil any time soon.
With this in mind, if you have any interest in hearing Jonathan speak about the future of the Patriots and of sports management in Boston and abroad, be sure to check out BostInno's State of Innovation forum, set for June 12 at the Westin Waterfront.
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Screenshot via Patriots.com
