Peter Bynoe

Infobox Person


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name = Peter Bynoe
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birth_date = birth date and age|1951|3|20
birth_place = city-state|Boston|Massachusetts
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residence = city-state|Chicago|Illinois
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education = J.D., Harvard Law School
M.B.A., Harvard Business School
B.A., Harvard College
employer = DLA Piper Rudnick Gray Cary US, LLP
occupation = Lawyer, businessman
title = Partner
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boards = Citizens Communications, Rewards Network, Danielson Holding Corporation
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spouse = Linda Walker (1987–)
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parents = Ethel M. Stewart and Victor C. Bynoe
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Peter Charles Bernard Bynoe (born March 20, 1951) is a Chicago attorney and businessman, the only African-American equity partner in the Chicago office of DLA Piper. [cite news|title=Diversity matters as minority students aim for the big firms|author=Kantzavelos, Maria|work=Chicago Lawyer|date=July 2007|page= 219] In 1989, he and his business partner Bertram Lee were the first African-Americans to buy any part of an National Basketball Association (NBA) team, when they purchased a 37.5% share of the Denver Nuggets basketball team,cite web|url=http://www.thehistorymakers.net/biography/biography.asp?bioindex=4|accessdate=2007-11-01|publisher=The HistoryMakers|title=Peter Bynoe Biography|date=2000-03-28] and he is among the most influential minority figures in sports law and management. [cite web|url=http://www.ivyleaguesports.com/article.asp?intID=2408|accessdate=2007-10-31|title=The Ivy Dozen|date=2003-05-23|publisher=ivyleaguesports.com] [cite web|url=http://www.timewarner.com/corp/newsroom/pr/0,20812,1091282,00.html|accessdate=2007-11-01|title=Fortune Announces 2005 Diversity List|date=2005-08-08|publisher=Time Warner]

Bynoe kept the Chicago White Sox from leaving Chicago by developing a New Comiskey Park (now known as U.S. Cellular Field). He has become a negotiator for professional sports teams' venues. In addition, he is involved in the development of the 2012 Summer Olympics and hopes to be involved in the 2016 Summer Olympics planning. Bynoe serves on several boards of directors.

Personal Background

Born in city-state|Boston|Massachusetts,cite web|url=http://www.answers.com/topic/peter-c-b-bynoe|title=Black Biography: Peter C. B. Bynoe|accessdate=2008-09-02|publisher=Answers Corporation|work=Answers.com] Bynoe came from a well-respected family. His father Victor C. Bynoe, had emigrated from his native Barbados at age 14, and after graduating from Northeastern University with degrees in Civil Engineering and Law, became a successful attorney. (At one point, he represented Boston Celtics star Bill Russell.) At a time when few blacks were being promoted to important positions in government, Victor Bynoe was named to Boston Mayor John B. Hynes' cabinet in 1950, serving on the Street Commission. [cite news|title=Gets High City Post in Boston|work=Chicago Defender|date=1950-01-07|page=1] He later became commissioner of Veterans' Services in Boston, and served on the board of the Boston Housing Authority. [cite news|title=Victor C. Bynoe, 80, Was Lawyer, Engineer, Boston Public Servant.|work=Boston Globe|date=1994-08-13|page=19] Peter's mother Ethel was American.; she was praised by the black newspapers for her community involvement and volunteerism. Peter also had an uncle John Bynoe, who was active in the fight for civil rights, serving as the regional civil rights director for the United States Department of Health, Education and Welfare. [cite news|title=Boston's Lee Gets Nuggets|work=Boston Globe|date=1989-07-11|page=61]

Bynoe attended William Lloyd Garrison Elementary School, and graduated from Boston Latin School in 1968. [cite news|title=Class Acts: Most Likely To...|author=Tong, Betsy Q.M. |work=Boston Globe|date=1994-06-12|page=14] He credited his parents with instilling high standards and expecting him to achieve in school. He also had a love of sports, growing up as a regular Boston Celtics and Boston Red Sox fan; but although both teams had black players, racial relations in Boston at that time were still tense, and black fans like Bynoe were hesitant to attend the games. [cite news|title=In Racism's Shadow|author=Fainaru, Steve |work=Boston Globe|date=1991-08-04|page=1]

Bynoe's entire post-secondary education was at Harvard University in city-state|Cambridge|Massachusetts. He obtained his bachelor's degree cum laude at Harvard College in 1972. cite web|url=http://www.dlapiper.com/peter_bynoe/|accessdate=2007-10-31|publisher=DLA Piper|title=Our People: Peter C.B. Bynoe, Partner] He then received his master's degree, an M.B.A. in 1976, with an emphasis on finance and marketing, from Harvard Business School. His Juris Doctor from Harvard Law School had a focus on corporate planning and regulation. In addition to being admitted to the practice of law before the Illinois State Bar, Bynoe is a licensed real estate broker in Illinois.

In late November 1987, he married Linda Jean Walker, who was then vice-president of the fixed-income division of Morgan Stanley in New York. [cite news|title=Wedding Planned by Linda Walker|work=New York Times|date=1987-10-04|page=66]

Business Career

Bynoe began his professional career in 1976 at Citibank. After deciding he didn't like working for a large corporation, he left New York and moved to Chicago in 1977. He was hired by James Lowry, a management consultant whom he had met at Harvard. While with Lowry's firm, Bynoe made a name for himself as someone who could break down racial barriers and get diverse groups to work together. He also became known for his work in minority business development.cite news|title=Energetic Bynoe aims for stardom in 'big leagues'|author=Merrion, Paul |work=Crain's Chicago Business|date=1989-08-14|page=13] By 1982, Bynoe passed the Illinois bar examination.cite web|url=http://www.iardc.org/ldetail.asp?id=437883198 |title=Lawyer Search: Attorney's Registration and Public Disciplinary Record for Peter Charles Bernard Bynoe |publisher=Attorney Registration & Disciplinary Commission of the Supreme Court of Illinois |date=2008-05-16 |accessdate=2008-05-18] He left Lowry and Associates in 1982, at which time he founded and managed Telemat Ltd., a business consulting firm.

His career path changed in 1987 when Harold Washington, whose election campaign he had worked for and contributed to, called Bynoe to inform him that the Chicago White Sox were threatening to leave Chicago.Picher, Keith, "Leading Lawyers Network", "Peter Bynoe: When It Comes to Sports Stadiums, He Takes The Ball And Runs With It," September 2007] From March 1988 to June 1992, Bynoe served as the Executive Director of the Illinois Sports Facilities Authority, a joint venture of the City of Chicago and State of Illinois, which gave him complete supervisory, planning and executing responsibility for the $250 million construction of New Comiskey Park for the Chicago White Sox, which was completed as scheduled and well within its budget. He also became known in Chicago for his business relationships with such influential sports stars as Michael Jordan, a former client with whom he remained friends. [cite news|title=Leading Normal Life Comes With Practice|author=Drell, Adrienne |work=Chicago Sun-Times|date=1995-03-24|page=30]

Having been a sports fan since childhood, Bynoe was eager to get into team ownership, and in 1989, he joined a small group of African-American entrepreneurs who were attempting to purchase the Denver Nuggets basketball team. Among the participants were Chicago and Boston businessman Bertram Lee, tennis legend Arthur Ashe and Democratic National Committee Chairman and future US Secretary of Commerce Ron Brown.cite web |url=http://espn.go.com/nba/news/2002/1217/1478643.html |accessdate=2007-11-02 |publisher=ESPN.com |title=Johnson will be NBA's first black majority owner |date=2002-12-18] The media were generally unaware of the rest of the group, and focused almost entirely on Bynoe and Lee. [cite news|title=Lee, Bynoe Seek New Era in Denver|author=MacMullan, Jackie |work=Boston Globe|date=1989-07-19|page=47] [cite news|title=Blacks Get Executive-Suite Toehold: Nuggets purchase could start wave of minority-owned teams|author=Wayne, Jamie |work=The Financial Post|date=1989-07-11|page=43|quote=You have Probably never heard of Bertram Lee and Peter Bynoe, but they have earned a spot in sports history alongside Jackie Robinson, the first black man admitted to major league baseball. The duo head a group of black investors that bought the Denver Nuggets of the National Basketball Association for US$65 million, breaking down the color barrier to sports executive suites. The Nuggets are now the first minority-owned major league professional franchise in the U.S.] [cite news|title=Economic Lessons|work=The New York Times|publisher=The New York Times Company|date=1989-07-16|page=7|url=http://query.nytimes.com/gst/fullpage.html?res=950DE0D91F39F935A25754C0A96F948260] [cite news|title=Denver Nuggets Become First Pro Sports Team Owned By Blacks|work=Christian Science Monitor|date=1989-07-12|page=7|publisher=Associated Press|quote=Bertram Lee and Peter Bynoe became the first black owners of a major professional sports franchise by purchasing the Denver Nuggets basketball team. Former Nuggets owner Sidney Shlenker on Monday acknowledged the $65 million sale, which must be confirmed by National Basketball Association owners. Mr. Lee owns television and radio stations in Washington, D.C., Utah, and Nebraska and is also chairman of BML Associates Inc., an investment holding company in Boston. Mr. Bynoe is the executive director of the Illinois Sports Facilities Authority, which is building the new home of the Chicago White Sox.] Lee and Bynoe had worked together in Boston years earlier, and Bynoe thought of Lee as a mentor. They had kept in touch, and were involved in several real estate dealings together. But the Nuggets deal was problematic from the start. In fact, it almost fell through because Lee did not have the resources everyone, Bynoe among them, thought he had. Media reports depicted Lee as a wealthy and successful businessman who was a financier with offices in two cities, and formerly part owner of a Boston's WNEV-TV. [cite news|title=Blacks Get Executive Suite Toe-Hold|author=Wayne, Jamie |work=Toronto Financial Post|date=1989-07-12|page=43] But Lee and Bynoe were unable to meet the deadline to purchase the team from then-owner Sidney Shlenker. It would later be revealed that Lee had problems raising the needed capital.cite news|title=Nuggets Part Owner Evicted From His Boston Apartment|author=Cooper, Barry |work=Pittsburgh Courier|date=1991-05-11|page=6] It was Bynoe, with the assistance of David Stern, Jay Pritzker, and Jerrold Wexler, who salvaged the transaction over the course of six months. The mainstream media reported that Lee and Bynoe were now the first two blacks to own a major sports team, but several of the black newspapers pointed out that the two men were actually managing general partners rather than owners, because the revised agreement to purchase the team meant they owned only a 37.5% stake in the team. [cite news|title=On the Money: The Deal is Done|work=Pittsburgh Courier|date=1989-11-04|page=6] But ultimately, the team turned out to be a poor investment, and with rumors flying that Lee was not making his share of the payments, Bynoe finally sold his interest in the franchise in August 1992. Communications Satellite Corporation's (COMSAT) Video Enterprises subsidiary put up 62.5% of the $65 million needed to purchase the Nuggets.

Other Achievements

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Bynoe served as a consultant to the Atlanta-Fulton County Recreation Authority and the Atlanta Committee to Organize the Olympic Games to plan the 85,000 seat Centennial Olympic Stadium within a $210 million construction budget. The stadium has been converted to the 45,000 seat Turner Field baseball stadium for the Atlanta Braves who use it under a lease agreement Bynoe negotiated. Bynoe became a partner at DLA Piper Rudnick Gray Cary US, LLP in 1995 when he joined the firm and is now a member of the firm's Executive Committee. Bynoe as head of DLA Piper's Sports Facilities Practice Group has negotiated new facilities for the Cincinnati Reds and Bengals, Miami Heat, Washington Redskins, Milwaukee Brewers, and Columbus Blue Jackets. He specializes in infrastructure projects and represents institutional clients such as: The Boeing Company, Sara Lee Corporation, Essence Communications, and CNA Insurance. Bynoe is currently involved in the 2012 Summer Olympics, hopes to be involved in a successful Chicago 2016 Olympic bid, and was a backer of Barack Obama.

In addition, Bynoe is a Director of Rewards Network, and Danielson Holding Corporation. Bynoe has chaired the Chicago Commission Landmarks, the Chicago Plan Commission, and the Illinois Sports Facilities Authority. He is Chairman of the Executive Committee of the Goodman Theatre, a Trustee of the Rush University Medical Center, and a Director of The CORE Center for the Prevention, Care and Research of Infectious Diseases. Bynoe has been a director of Covanta since 2004. [cite web|url=http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=935191|accessdate=2007-10-31|title= Peter C Bynoe |publisher=Forbes.com LLC] cite web|url=http://www.covantaholding.com/site/management/peter-cb-bynoe.html|accessdate=2007-11-01|title=Peter C.B. Bynoe, Director] On July 30 2007, Bynoe was announced as a director (effective October 1) for Citizens Communications. In the past, Bynoe has been a member of the Harvard Board of Overseers. [cite web|url=http://myway.frontiernet.net/downloads/BynoePR.pdf|accessdate=2007-11-01|title=Citizens Communications Appoints Peter C.B. Bynoe to Board of Directors|publisher=Citizens Communications|date=2007-07-30|author=Smith, Brigid|format=PDF] He has also served as a director for Uniroyal Technology Corporation, Jacor Communications (acquired by Clear Channel Communications), J&G Industries, Huffman-Koos, Inc., the River Valley Savings Bank, and Blue Chip Broadcasting (acquired by Radio One, Inc).

Honors

Bynoe has been designated an Illinois "Super Lawyer" for 2005 and 2006 based on research jointly conducted by "Law & Politics" and "Chicago magazine"s.cite web|url=http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=1124435|accessdate=2007-11-01|publisher=Forbes.com LLC|title=Peter C Bynoe|year=2007]

Notes


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