Jack Hayward

Sir Jack Arnold Hayward OBE (born June 14, 1923) is an English property developer and philanthropist.

Biography

Hayward was born in Wolverhampton. He was educated at Northaw Preparatory School and Stowe School in Buckingham. In 1941, during the Second World War, he joined the Royal Air Force, receiving flight training in Clewiston, Florida. He served as an Officer Pilot in the Royal Air Force 671 Squadron S.E. Asia Command and in 1946 was demobilised as a Flight Lieutenant.

His father, Sir Charles Hayward CBE, began the family involvement with the Bahamas in the 1950s, after relocating his business from the United States. Sir Jack arrived in Grand Bahama in 1956, and became a Vice President of The Grand Bahama Port Authority which helped promote the development of Freeport. Sir Jack took over his father's interests in the Bahamas, and continues to this day to play a role in developments in Freeport - where the [http://www.jackhaywardhighschool.org Jack Hayward High School] is named after him.

The 2008 Sunday Times Rich List placed him as Britain's 501st richest with an estimated £160million fortune.

Wolverhampton Wanderers F.C.

Hayward became the owner and chairman of his boyhood football team Wolverhampton Wanderers after buying the club in May 1990 for £2.1million. Some have estimated that he has spent £60m of his personal fortune on redeveloping their Molineux Stadium and players for the club during the 17 years for which he was owner - more moderate figures appear to run from £20m to £40m. The club's training ground (opened in 2005), although named after him, was not financed by Hayward. He also has a street - "Sir Jack Hayward Way" - beside Molineux named in his honour (retitled from "Molineux Way" in 2003).

Hayward's 17-year ownership had been relatively successful, but on taking the club over he had hoped to re-establish them as one of England's leading sides. His reign saw seven different managers employ his resources in attempts to make the club a top flight side. In the event, they only managed one season at the highest level (2003/04), despite his riches having enabled Wolves to invest in many players who would normally have been beyond the financial reach of most non-Premier League clubs. In May 2007, it was announced that he has sold control of the club to businessman Steve Morgan for a nominal £10 fee, in exchange for the promise of £30m of investment in the club. Hayward had originally offered the club for sale in September 2003, but had struggled to find suitable takers. Morgan's takeover was formally completed on 9 August 2007.

By the time he left Molineux, Hayward was recognised as one of a select group of football benefactors who had spent huge fortunes of money on rescuing their hometown club from obscurity. Other such benefactors include Jack Walker (Blackburn Rovers), Lionel Pickering (Derby County), Steve Gibson (Middlesbrough) and Dave Whelan {fc|Wigan Athletic).

Although now a non-board member, Hayward remains the life president of Wolves.

Charity

Hayward was knighted in 1986 - adding to his 1968 OBE award - for his charitable actions, having previously donated money to buy Lundy Island (for the National Trust), the SS "Great Britain" and, more recently, £500,000 to the Vulcan to the Sky fund. [ [http://news.bbc.co.uk/1/hi/england/leicestershire/5308448.stm BBC NEWS | England | Leicestershire | Club's owner was 'mystery' donor ] ] He also put funds into repair the King Edward VII Memorial Hospital on the Falkland Islands after the Falklands War.

Family

Hayward married Jean Mary Forder in 1948 and has two sons, Rick and Jonathan, and a daughter Susan. Both his sons have also been involved with Wolves. Jonathan joined the board upon Sir Jack's takeover in 1990 and later served as chairman, before resigning in 1997. In 1999, his father controversially sued him for £237,000, claiming he was responsible for financial irregularities. The matter was settled out of court in favour of Sir Jack. His elder son Rick later became chairman of the club in 2003, taking over from Sir Jack himself, but stepped down in 2006. His grandson Rupert joined the board in the reshuffle following Steve Morgan's takeover but resigned a year later.

References