Peter Bynoe

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Peter Bynoe
Born
Peter Charles Bernard Bynoe

(1951-03-20) March 20, 1951 (age 73)
CEO
Board member of
  • Signature Group Holdings
  • Spouse
    Linda Jean Walker
    (m. 1987)

    Peter Charles Bernard Bynoe (born March 20, 1951) is a Chicago attorney and businessman, formerly the only African-American equity partner in the Chicago office of DLA Piper.[1] In 1989, he and his business partner Bertram Lee were the first African-Americans to buy a controlling interest in a National Basketball Association (NBA) team, when they purchased a 37.5% share of the Denver Nuggets basketball team,[2] and he is among the most influential minority figures in sports law and management.[3][4]

    Bynoe kept the

    U.S. Cellular Field). He has become a negotiator for professional sports teams' venues. In addition, he was involved in the development of the 1996 and 2012 Summer Olympics
    . Bynoe serves on several boards of directors.

    Personal background

    Born in

    Bynoe attended William Lloyd Garrison Elementary School, and graduated from Boston Latin School in 1968.[10] He credited his parents with instilling high standards and expecting him to achieve in school.[5] 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.[11]

    Bynoe's entire post-secondary education was at

    real estate broker in Illinois.[12]

    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.[13]

    Business career

    U.S. Cellular Field to keep the Chicago White Sox
    from leaving Chicago.

    Bynoe began his professional career in 1976 at Citibank.[2] 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.[14] By 1982, Bynoe passed the Illinois bar examination.[15] 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

    New Comiskey Park for the Chicago White Sox, which was completed as scheduled and well within its budget.[12] 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.[16][17][18][19][20]

    In November 1989, Bynoe and Bertram Lee purchased the Denver Nuggets. 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.

    $65 million needed to purchase the Nuggets.[23]

    Bynoe was hired in 2008 by Chicago-based Loop Capital Markets LLC.[24] Bynoe serves as managing director of Corporate Finance.[25]

    In August 2013, Bynoe left his executive role at Loop Capital Markets LLC to become CEO of Rewards Network, a company controlled by investor Sam Zell that offers loyalty programs for restaurants.[26]

    Other achievements

    Bynoe consulted on the development of Centennial Olympic Stadium, which eventually was converted into Turner Field, shown here.

    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

    CNA Insurance.[12] Bynoe also was involved in the 2012 Summer Olympics, and was a backer of Barack Obama.[6]

    In addition, Bynoe is a Director of Frontier Communications Corporation,

    Honors

    Bynoe has been designated an Illinois "Super Lawyer" for 2005 and 2006 based on research jointly conducted by Law & Politics and

    Notes

    1. ^ Kantzavelos, Maria (July 2007). "Diversity matters as minority students aim for the big firms". Chicago Lawyer. p. 219.
    2. ^ a b c "Peter Bynoe Biography". The HistoryMakers. March 28, 2000. Archived from the original on January 22, 2016. Retrieved November 1, 2007.
    3. ^ "The Ivy Dozen". ivyleaguesports.com. May 23, 2003. Archived from the original on April 30, 2007. Retrieved October 31, 2007.
    4. ^ "Fortune Announces 2005 Diversity List". Time Warner. August 8, 2005. Archived from the original on November 11, 2006. Retrieved November 1, 2007.
    5. ^ a b "Black Biography: Peter C. B. Bynoe". Answers.com. Answers Corporation. Retrieved September 2, 2008.
    6. ^ a b c d Picher, Keith, Leading Lawyers Network, "Peter Bynoe: When It Comes to Sports Stadiums, He Takes The Ball And Runs With It," September 2007
    7. Chicago Defender
      . January 7, 1950. p. 1.
    8. Boston Globe
      . August 13, 1994. p. 19.
    9. Boston Globe
      . July 11, 1989. p. 61.
    10. Boston Globe
      . p. 14.
    11. Boston Globe
      . p. 1.
    12. ^ a b c d e f g h "Our People: Peter C.B. Bynoe, Partner". DLA Piper. Archived from the original on April 23, 2006. Retrieved October 31, 2007.
    13. New York Times
      . October 4, 1987. p. 66.
    14. ^ a b Merrion, Paul (August 14, 1989). "Energetic Bynoe aims for stardom in 'big leagues'". Crain's Chicago Business. p. 13.
    15. ^ "Lawyer Search: Attorney's Registration and Public Disciplinary Record for Peter Charles Bernard Bynoe". Attorney Registration & Disciplinary Commission of the Supreme Court of Illinois. May 16, 2008. Archived from the original on September 24, 2015. Retrieved May 18, 2008.
    16. ^ Drell, Adrienne (March 24, 1995). "Leading Normal Life Comes With Practice". Chicago Sun-Times. p. 30.
    17. Boston Globe
      . p. 47.
    18. The Financial Post
      . p. 43. 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.
    19. ^ "Economic Lessons". The New York Times. July 16, 1989. p. 7.
    20. Christian Science Monitor. Associated Press
      . July 12, 1989. p. 7. 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 was the executive director of the Illinois Sports Facilities Authority, which is building the new home of the Chicago White Sox.
    21. ^ Wayne, Jamie (July 12, 1989). "Blacks Get Executive Suite Toe-Hold". Toronto Financial Post. p. 43.
    22. ^ Cooper, Barry (May 11, 1991). "Nuggets Part Owner Evicted From His Boston Apartment". Pittsburgh Courier. p. 6.
    23. ^ "Johnson will be NBA's first black majority owner". ESPN.com. December 18, 2002. Retrieved November 2, 2007.
    24. ^ Shields, Yvette (August 7, 2008). "New Hires at Loop Capital Markets". The Bond Buyer. Retrieved January 6, 2010.
    25. ^ "Loop Capital Markets, LLC". Bloomberg L.P. Archived from the original on June 2, 2008. Retrieved January 6, 2010.
    26. ^ "Zell-controlled firm names Peter Bynoe CEO". August 29, 2013. Retrieved December 16, 2015.
    27. ^ a b "Peter C.B. Bynoe, Director". Archived from the original on May 16, 2008. Retrieved November 1, 2007.
    28. ^ "Peter C Bynoe". Forbes. Retrieved October 31, 2007.[dead link]
    29. ^ a b "Peter C Bynoe". Forbes. 2007. Retrieved November 1, 2007.[dead link]
    30. ^ Smith, Brigid (July 30, 2007). "Citizens Communications Appoints Peter C.B. Bynoe to Board of Directors" (PDF). Citizens Communications. Archived from the original (PDF) on October 29, 2008. Retrieved November 1, 2007.