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Robert Hernreich

From Wikipedia, the free encyclopedia

Robert Hernreich is an American businessman, professional sports team owner, and philanthropist.

Hernreich is currently part-owner and club director of Swansea City, the Championship League soccer team based in Swansea, Wales,[1] as well as part-owner of Washington DC's DC United soccer club.[2] He is Chairman of the Board of Remonov + CO,[3] a real estate development firm in the Vail Valley of Colorado.

Early life and education

Hernreich was born and raised in Arkansas, before receiving a BA from Washington University in St. Louis and an MBA from Washington University's Olin Business School.

He was drafted into the Army during the Vietnam War, but was not deployed overseas.[4]

Business career

Hernreich established KAIT 8 in Jonesboro, Arkansas in 1963 with his father. After growing and acquiring a number of related media outlets throughout NW Arkansas, Hernreich sold his media group, Sigma Broadcasting, to Channel Communications in 1984 and Hearst-Argyle in 1995. At the time, Sigma was the largest media company in the state.[5]

From 1991 to 1993 Hernreich served as chairman of United States Repeating Arms, maker of Winchester rifles.[6] He is also a past director of Ride Snowboards, K2 Inc.[7] and the Miss America Organization[8]

In 1994, Hernreich founded Remonov and began developing real estate in Colorado's Vail Valley.

Sports ownership

Source[9]

As part of a new ownership group led by the Maloof family, Hernreich bought a 12% stake in the Sacramento Kings in 1999.[10] In 2013, Microsoft’s Steve Balmer and hedge fund manager Chris Hansen tried to buy the Kings and move them to Seattle,[11] but bowing to local pressure, Hernreich and the Maloofs instead sold the Kings to investors led by Vivek Ranadive for a record price, then the highest ever for an NBA franchise.[12] As a result of that sale, the team stayed in Sacramento.

As part of his Kings ownership, Hernreich was also part owner of the WNBA's Sacramento Monarchs.[12]

In 2005, Hernreich purchased the Arizona Rattlers of the Arena Football League.[13]  He sold the team in 2008.

In 2010, Hernreich bought an undisclosed stake in the Texas Rangers as part of a group led by pitcher Nolan Ryan and lawyer Chuck Greenberg.[14]

Civic life and philanthropy

Hernreich has served on the board of directors of the Vail Valley Foundation (VVF), Beaver Creek’s Vilar Center for the Arts[15] and the Eagle Valley Land Trust. He was past chairman of the Colorado Board of Parks and Outdoor Recreation.[6]

He was a founding board member of SOS Outreach (serving at-risk youth) and the Vail Youth Foundation. He served as the Administration Chairman for the 1999 World Alpine Championships in Vail.[6] Hernreich is a member of the VVF Millennium Club, a small group who have contributed in their lifetimes more than $1 million to the VVF.[16]

He has served as Trustee of his alma mater, Washington University in St. Louis, MO for 30 years.[17]

References

  1. ^ "Trust dispute Swans share sellers' claim". BBC Sport. Retrieved 2022-05-16.
  2. ^ "D.C. United announces changes to its investment group". Washington Post. ISSN 0190-8286. Retrieved 2022-05-16.
  3. ^ "OUR TEAM". Remonov + CO. Retrieved 2022-05-16.
  4. ^ Thompson, Cliff. "Leveraging an MBA into the NBA". www.vaildaily.com. Retrieved 2022-05-16.
  5. ^ Newsdesk, Region 8. "Former owner who helped build KAIT visits Region 8". kait8.com. Retrieved 2022-05-16.{{cite web}}: CS1 maint: numeric names: authors list (link)
  6. ^ a b c Colorado, Daily Staff ReportVail CO. "Hernreich named to Board of Directors of Global Action". www.vaildaily.com. Retrieved 2022-05-16.
  7. ^ "SCHEDULE 14A INFORMATION". www.sec.gov. Retrieved 2022-05-16.
  8. ^ Strauss, Robert (2003-11-23). "UP FRONT: WORTH NOTING; Miss America Looks Beyond the Boardwalk". The New York Times. ISSN 0362-4331. Retrieved 2022-05-16.
  9. ^ "Affordable Housing in Edwards Hits a Roadblock". Vail-Beaver Creek Magazine. Retrieved 2022-05-16.
  10. ^ "Time To Sell?". Inside Sacramento. 2021-03-28. Retrieved 2022-05-16.
  11. ^ "Seattle relocation group has deal for Kings". ESPN.com. 2013-01-21. Retrieved 2022-05-16.
  12. ^ a b "Maloof Family Transfers Ownership of Sacramento Kings to Sacramento Investor Group". Sacramento Kings. Retrieved 2022-05-16.
  13. ^ "Rattlers sold to Bobby Hernreich". OurSports Central. 2005-07-01. Retrieved 2022-05-16.
  14. ^ Postins, Matthew. "Rangers History Today: Greenberg & Ryan Purchase The Franchise". Sports Illustrated Texas Rangers News, Analysis and More. Retrieved 2022-05-16.
  15. ^ Roberts, Ken Schwencke, Mike Tigas, Sisi Wei, Alec Glassford, Andrea Suozzo, Brandon (2013-05-09). "VAIL VALLEY FOUNDATION INC - Form Form 990 for period ending Sep 2012 - Nonprofit Explorer". ProPublica. Retrieved 2022-05-16.{{cite web}}: CS1 maint: multiple names: authors list (link)
  16. ^ "Vail Valley Foundation annual report" (PDF).
  17. ^ "Emeritus Trustees | Board of Trustees | Washington University in St. Louis". boardoftrustees.wustl.edu. Retrieved 2022-05-16.
This page was last edited on 8 January 2024, at 03:57
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