Zygi Wilf
Zygmunt "Zygi" Wilf | |
|---|---|
| Born | April 22, 1950 West Berlin |
| Occupation(s) | Entrepreneur, real estate developer, sports team owner |
| Known for | Chairman and co-owner of the Minnesota Vikings; principal owner of Orlando City SC |
Zygmunt "Zygi" Wilf (born April 22, 1950) is a prominent American billionaire entrepreneur and real estate developer. He holds the positions of chairman and co-owner of the NFL's Minnesota Vikings and is the principal owner of Major League Soccer's Orlando City SC.
Early life
Wilf was born on April 22, 1950, in West Berlin to Joseph (1925–2016) and Elizabeth Wilf, who were Polish Jewish survivors of the Holocaust during Nazi occupation. In the early 1950s, the Wilf family emigrated to the United States and established their home in Hillside, New Jersey. Joseph Wilf, along with his brother Harry, transitioned from selling used cars to founding the real estate firm Garden Homes, which has since developed approximately 25,000 residential units across 39 states. Their enterprises, Garden Homes and Garden Commercial Properties, oversee about of retail and commercial real estate.
Wilf completed his undergraduate studies in economics at Fairleigh Dickinson University in 1971 and earned a J.D. degree from New York Law School in 1974. He has been honored with honorary doctorates from Yeshiva University in 2010 and from Fairleigh Dickinson University in 2012. Both Zygi and his brother Mark Wilf serve as trustees at Yeshiva University.
Career
Following a period practicing law, Wilf entered the family enterprise and assumed leadership of Garden Commercial Properties. Under his direction, the company grew from managing four shopping centers in Northern New Jersey to overseeing more than one hundred properties, including prominent shopping malls. Additionally, the Garden companies own and operate roughly 90,000 apartment units throughout the country.
Minnesota Vikings
In 2005, Wilf and five associates acquired the Minnesota Vikings NFL franchise from Red McCombs for an estimated $600 million. By 2020, Forbes appraised the team’s worth at $2.95 billion, placing it 17th among NFL franchises and 33rd within the top 50 most valuable sports organizations.
The Vikings organization and Wilf persistently contended that their previous venue, the Hubert H. Humphrey Metrodome, failed to meet modern standards and advocated for a new stadium. In May 2012, the Minnesota state senate approved a $975 million stadium financing plan heavily reliant on public funds. Following this, Governor Mark Dayton endorsed the agreement, which was narrowly ratified by the Minneapolis City Council, effectively eliminating threats of relocation. The replacement facility, U.S. Bank Stadium, officially opened in July 2016 on the site formerly occupied by the Metrodome.
Nashville SC
In August 2017, Zygi Wilf, along with his brother Mark and cousin Leonard, became minority stakeholders in Nashville SC, joining lead investor John Ingram.
Orlando City SC
On May 12, 2021, Zygi, Mark, and Leonard Wilf completed the acquisition of Orlando City SC, a club in Major League Soccer, as well as its affiliated women's team, the Orlando Pride of the National Women's Soccer League, and their home venue, Exploria Stadium. The seller was a consortium led by Brazilian entrepreneur Flávio Augusto da Silva. The transaction was valued between $400 million and $450 million. Concurrent with this purchase, the Wilf family agreed to divest their minority interest in Nashville SC.
Legal issues
In August 2013, Zygi Wilf, his brother Mark, and cousin Leonard were held accountable in New Jersey for breaching civil racketeering statutes by maintaining separate financial records to conceal shared revenue from former partners. The presiding judge likened their methods to those used by organized crime groups. Subsequently, in September 2013, plaintiffs Ada Reichmann and Josef Halpern were awarded damages totaling $84.5 million. However, an appeal in June 2018 resulted in a reduction of this sum to approximately $32 million.
Personal life
In 2011, Zygi and Audrey Wilf acquired the entire eighteenth-floor apartment at New York’s 778 Park Avenue for $19 million, a figure reduced from the initial asking price of $24.5 million. Despite this purchase, they continued to reside primarily in Springfield, New Jersey.