Robert Schmertz

Robert Schmertz (November 15, 1926 – July 24 1975) cite news|title=Celtics owner dies of hemorrhage|work=Washington Post|date=1974-07-25|accessdate=2007-11-12] , was an American developer and sports franchise owner. He was owner or part-owner of two NBA franchises; the Portland Trail Blazers from 1970 through 1972, and the Boston Celtics from 1972 until 1975. cite book|title=Pay Dirt: The Business of Professional Team Sports
author=James P. Quirk, Rodney D. Fort|publisher=Princeton University Press|date=1992|accessdate=2007-11-12] . He also owned the New England Whalers of the World Hockey Association, and the New York Stars of the now-defunct World Football League. Schmertz also founded Leisure Technology, a developer of retirement communities.cite news
url=http://www.encyclopedia.com/doc/1G1-9397685.html|title=Leisure Tech stock keeps sliding as sales weaken; N.J. prospects are barren; bonds trade at deep discount|work=Los Angeles Business Journal|date=1990-08-13|accessdate=2007-11-12]

In 1975, Schmertz was indicted by a New Jersey grand jury on bribery charges [cite news|title=Celtics owner indicted in New Jersey bribery|work=Washington Post|date=1975-02-06|accessdate=2007-11-12] Schmertz pled innocent to the charges. In July of that year, he suffered a stroke and died on July 24. Leisure Technology would become a major developer of retirement communities, but would go bankrupt in 1991 [cite news|url=http://www.thefreelibrary.com/Leisure+Technology+reorganization+goes+before+judge%3B+proposal+would...-a013614637
title=Leisure Technology reorganization goes before judge; proposal would give ownership to major bondholder|work=Los Angeles Business Journal|date=1993-02-01|author=Brad Berton|accessdate=2007-11-12]

Prior to his death in New York City, Schmertz lived in Lakewood Township, New Jersey.

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