Edgar Kaiser, Jr
| Edgar Kaiser Jr. | |
|---|---|
| Born |
Edgar Fosburgh Kaiser Jr. July 5, 1942 Portland, Oregon, U.S. |
| Died | January 11, 2012 (aged 69) |
| Occupation | financier |
| Parent(s) | Edgar Kaiser, Sr |
| Relatives |
Henry 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. He was born in Portland, Oregon on July 5, 1942 and is the grandson of shipbuilding industrialist Henry J. Kaiser. He earned a BA degree from Stanford University and an MBA degree from Harvard University. 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. He became a Canadian citizen in 1980. He died on January 11, 2012.
Kaiser purchased the Broncos from the Gerald Phipps’ family in 1981. Kaiser sold his 60.8% share of the Broncos to current owner Pat Bowlen in 1984. 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 percent of the Broncos using the identical purchase terms offered to Elway. 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.
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.
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