Bill Wirtz
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William W. Wirtz (October 5 1929 – September 26 2007), nicknamed "Dollar Bill", born in Detroit, Michigan, was the chief executive officer and controlling shareholder of the family-owned Wirtz Corp, as well as owner of the Chicago Blackhawks of the National Hockey League.
Wirtz died at Evanston Hospital on September 26, 2007, after a brief battle with cancer. Overall, he served as the Blackhawks' team president for over four decades. [2]
Wealth
Wirtz Corp. is most notable as owner of the Chicago Blackhawks; Wirtz Realty, a large real estate owner in Chicago; and Judge & Dolph Ltd., a major liquor distributor selling over 33% of all liquor in Illinois. It also has interests in banking and insurance. Wirtz also co-owns the United Center with Jerry Reinsdorf. Crain's Chicago Business in 2004 estimated the company's 2003 revenues as US$1.3 billion. Overall, it is estimated that Wirtz's holdings (including stock in several companies, including Alberto-Culver and Firstar Bank) are worth about US$3 to 4 billion.
Blackhawks ownership
Bill Wirtz managed the Blackhawks for 41 years, and served as Chairman of the Board of Governors of the NHL for 18, helping to merge the NHL and the World Hockey Association during the 1970s. Wirtz had a lifelong love for hockey, and his team, the Chicago Blackhawks.[1]
Still, Wirtz had a reputation for stubbornness and frugality. He was vilified by Blackhawks fans for forbidding Blackhawks home games to be shown on TV and for allowing Bobby Hull to leave the Blackhawks. Wirtz was also blamed for the loss of both Dominik Hasek and Ed Belfour, the sacrilegious trade of Chris Chelios to Detroit (In actuality, Chelios asked to be traded and gave approval to then-General Manager Bob Murray when told Detroit was the most interested team), the lopsided trade of Jeremy Roenick and lastly the 1967 trade of a young Phil Esposito. Bobby Hull and Stan Mikita are so embittered by Wirtz's cheapness that they will have nothing to do with the franchise. Wirtz was also blamed for the Blackhawks Stanley Cup drought, which is the longest in the NHL and the longest in team history.[2]
Under the ownership of Wirtz, the Chicago Blackhawks were named by ESPN in 2004 as the worst franchise in sports.[3]
ESPN has ranked Wirtz as the 3rd greediest owner in all of sports.
Wirtz was inducted into the United States Hockey Hall of Fame in 1985. He had five children and seven grandchildren.
Wirtz was given the nickname "Dollar Bill" by Chicago Tribune columnist Bob Verdi as a sarcastic reference to his frugality in compensating his players.
The "Wirtz Law"
According to the Chicago Reader, in 1999 the Illinois legislature passed The Wine and Spirits Fair Dealing Act, colloquially known as the "Wirtz Law". The bill was passed after over $700,000 was contributed to politicians by liquor distruibutors according to the Illinois Campaign for Political Reform. According to the Reader:
The law was on the books for less than three years before a U.S. district court judge struck it down on the grounds that it violated the commerce clause of the Constitution. Newspaper editorials at the time often called the Wirtz Law a corrupt document, and it has since become a case study for campaign finance reform. But what has gone largely unnoted is that it only applied the same strictures to wineries and distilleries that already apply to breweries.[4]
See also
References
- ^ "missing". Chicago Tribune. Retrieved 2007-09-26.
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"missing". Fox News. Retrieved 2007-09-26.
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Peter Keating (2004). "Blackhawks: Worst franchise in sports". ESPN. Retrieved 2007-09-26.
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