Robert Schmertz

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Robert Schmertz (November 15, 1926 – July 24, 1975) [1][2], was an American developer and sports franchise owner. He was owner or part-owner of two NBA franchises; the Portland Trail Blazers from 1970 through 1972, and the Boston Celtics from 1972 until 1975. [3]. He also owned the New England Whalers of the World Hockey Association, and the New York Stars of the now-defunct World Football League. Schmertz also founded Leisure Technology, a developer of retirement communities.[2]

In 1975, Schmertz was indicted by a New Jersey grand jury on bribery charges[4] Schmertz pled innocent to the charges. In July of that year, he suffered a stroke and died on July 24.[1] Leisure Technology would become a major developer of retirement communities, but would go bankrupt in 1991[5]

Prior to his death in New York City, Schmertz lived in Lakewood Township, New Jersey.

[edit] References

  1. ^ a b "Celtics owner dies of hemorrhage", Washington Post, 1974-07-25. Retrieved on 2007-11-12. 
  2. ^ a b "Leisure Tech stock keeps sliding as sales weaken; N.J. prospects are barren; bonds trade at deep discount", Los Angeles Business Journal, 1990-08-13. Retrieved on 2007-11-12. 
  3. ^ James P. Quirk, Rodney D. Fort (1992). Pay Dirt: The Business of Professional Team Sports. Princeton University Press. 
  4. ^ "Celtics owner indicted in New Jersey bribery", Washington Post, 1975-02-06. Retrieved on 2007-11-12. 
  5. ^ Brad Berton. "Leisure Technology reorganization goes before judge; proposal would give ownership to major bondholder", Los Angeles Business Journal, 1993-02-01. Retrieved on 2007-11-12. 
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