Robert Hernreich

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

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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]

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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. 1 2 3 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. 1 2 "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.
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