Find out about the New England Patriots' ownership and history throughout its establishment as an NFL franchise.
The New England Patriots is one of the top names when it comes to the NFL franchise and is known for its competitiveness throughout its history. The team is currently a member of the American Football Conference East division and was founded in 1959 as the Boston Patriots before a name change was adopted in 1971 following the relocation to Foxborough.
Today, the Patriots are one of the most successful NFL franchises historically, having won over six Super Bowls, most of which were lifted between 2001 and 2019.
As of February 2025, the New England Patriots are owned by Robert Kraft, who purchased the team for $172 million in 1994.
New England Patriots ownership history explained
Billy Sullivan (1959–1988)
Billy Sullivan was the first owner and founder of the New England Patriots. He was an American businessman who owned the team then as the Boston Patriots from their inception in the American Football League (AFL, 1960–1969) until their sale, as the New England Patriots of the National Football League (NFL), to Victor Kiam in 1988. (Wikipedia).
According to Wikipedia, Sullivan requested a National Football League franchise in Boston in 1959 but was turned down, which was due to previous failed attempts to introduce a franchise in the Boston region.
Sullivan joined the AFL after he led a syndicate that was awarded the league's eighth and final team for their inaugural season in 1960 as the Boston Patriots. A $25,000 franchise fee was paid. Later in 1966, he played a key role in the AFL–NFL merger.
Billy Sullivan changed the team's name from the Boston Patriots to the New England Patriots in March 1971 following the team's move to Schaefer Stadium in Foxborough, Massachusetts. This was also made to blend with all of New England.
Sullivan later sold the team to a syndicate headed by Remington Products owner Victor Kiam for $83 million.
Victor Kiam (1988–1992)
Victor Kiam was the second owner of the New England Patriots NFL franchise. He was an American entrepreneur and TV spokesman for Remington Products. In 1988, he bought the New England Patriots from founder Billy Sullivan.
James Orthwein (1992–1994)
James Orthwein was the third majority owner of the New England Patriots. He was an American business executive. He purchased the team from Victor Kiam in 1992 for around $106 million.
Robert Kraft (1994-present)
Robert Kraft purchased the team for $172 million in 1994.
Robert Kenneth Kraft is an American businessman who owns the Kraft Group holding company with assets in diverse areas such as sports and entertainment, real estate development, and a private equity portfolio, etc. According to figures from Forbes, he has a net worth of around $11.8B.
Some of the subsidiaries in the Kraft Group include:
New England Revolution (MLS): The MLS franchise was founded by Robert Kraft as one of the charter clubs of the league.
New England Patriots (NFL): Robert Kraft purchased the team for $172 million in 1994. Today, the team has a rich history throughout his ownership of the team. He also brought investment to the Gillette stadium as well as management and player transfers.
The New England Patriots is currently ranked among the most successful franchises in the National Football League following its impressive run of six Super Bowls in seventeen years.
What is the New England Patriots valuation?
The New England Patriots is ranked as one of the most valuable teams in the NFL with an estimated valuation of $7.4B, according to figures from Forbes.
Stadium
The Patriots plays its home games at the Gillette Stadium located in Foxborough, Massachusetts. It was built in 2000 and opened in 2022 at a cost of $325 million.