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Edgar Kaiser Jr.

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Edgar Kaiser Jr.
Born
Edgar Fosburgh Kaiser Jr.

(1942-07-05)July 5, 1942
Portland, Oregon, U.S.
DiedJanuary 11, 2012(2012-01-11) (aged 69)
Toronto, Ontario, Canada[1]
OccupationFinancier
ParentEdgar Kaiser Sr.
RelativesHenry J. Kaiser (grandfather)
Henry Kaiser (cousin)

Edgar Fosburgh Kaiser Jr. (July 5, 1942 – January 11, 2012) was an American-Canadian financier and a former owner of the Denver Broncos American football team.[2]

Biography

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Kaiser was born in Portland, Oregon, on July 5, 1942, and was the grandson of shipbuilding industrialist Henry J. Kaiser.[3]

He earned a BA degree from Stanford University and an MBA degree from Harvard University.[4]

Kaiser served as a White House Fellow and as a Special Assistant to President Lyndon B. Johnson, President Richard M. Nixon, and as a Special Assistant to U.S. Secretary of the Interior Walter J. Hickel.[4]

He became a Canadian citizen in 1980.[3]

He died on January 11, 2012.[5]

Denver Broncos

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Kaiser purchased the Broncos from the Gerald Phipps’ family in February 1981 for $29 million.[6][7] He sold his 60.8% share of the Broncos to Pat Bowlen in March 1984 for $78 million.[8] He then sued Bowlen for violating the original sales’ agreement, which he contended granted him right of first purchase of any sale of shares in the team. Kaiser claimed Bowlen violated this agreement by offering former Broncos quarterback John Elway a 10% stake of the company that holds ownership of the team. In 2004, a jury ruled in favor of Kaiser, and a federal judge decreed that Kaiser was entitled to purchase back 10% of the Broncos using the identical purchase terms offered to Elway.[9] Bowlen appealed the original verdict that ruled in favor of Kaiser and won the appeal, as the appellate court ruled that the structure of the Bowlen-Elway deal did not violate the original agreement.[8]

Business career

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Kaiser held several corporate positions during his life, including chief executive officer of Vancouver-based Kaiser Resources Ltd, the family holding company. Kaiser Resources' coal assets were sold to British Columbia Resources Investment Corporation and Ashland Oil Canada to Dome Petroleum.[3][10]

Kaiser served as Chairman and CEO of the Bank of British Columbia from 1984 until the bank's 1986 demise.[4] He also served on the board of directors of several large Canadian companies.

The Kaiser Foundation

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In 1985, Edgar Kaiser Jr. established the Kaiser Foundation (unrelated to the American Henry J. Kaiser Family Foundation). It is a North Vancouver, British Columbia-based organization established as a Canadian national organization, operated separately from other ventures of the Kaiser family, with the goal of promoting the understanding and importance of mental health and addictions as health issues.[11] It has also established the Kaiser Mental Health and Addictions Awareness Foundation and the Aboriginal Peoples' Health Initiative.

References

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  1. ^ "Edgar Kaiser Jr. Dies at 69; Owned Denver Broncos". New York Times. January 23, 2012.
  2. ^ "Lawsuit could force change in Broncos ownership". Sportsillustrated.cnn.com. July 19, 2003. Archived from the original on 2012-07-15. Retrieved January 14, 2012.
  3. ^ a b c "Edgar Kaiser Jr". Canadian Encyclopedia. Archived from the original on February 3, 2013.
  4. ^ a b c "Our Founder". KaiserFoundation.ca. Archived from the original on 2011-07-06. Retrieved 2011-04-13.
  5. ^ Kirk Mitchell (2010-09-14). "Former Denver Broncos owner Edgar Kaiser dies". The Denver Post. Retrieved 2012-01-14.
  6. ^ "Broncos sold to industrialist". Deseret News. (Salt Lake City, Utah). Associated Press. February 27, 1981. p. 2D.
  7. ^ "Broncos Verdict". Archived from the original on 2008-02-29. Retrieved 2014-09-17.
  8. ^ a b [1][dead link]
  9. ^ James Paton (October 2, 2008). "Clock runs out for ex-Broncos owner". Rocky Mountain News. Denver, Colorado. Archived from the original on 2013-02-01. Retrieved 2009-10-09.
  10. ^ "Mergers and Acquisitions". Oiltrash.com. Archived from the original on 2012-03-22. Retrieved 2012-01-14.
  11. ^ "Foundation". KaiserFoundation.ca. Archived from the original on 2007-10-11. Retrieved 2011-04-13.
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