Who was Sir Jack Petchey? Former Watford owner and chairman dies aged 98

Sir Jack Petchey CBE, a prominent English businessman and philanthropist, died on June 27, 2024, at the age of 98.

Born on July 19, 1925, in Plaistow, Essex, Petchey leaves behind a legacy in business, philanthropy, and football. The cause of his death has not been disclosed.

Early Life and Career

Raised in a working-class family in the East End of London, Petchey left school at the age of 13. He embarked on his entrepreneurial journey by starting a car hire and car sales business. With the profits from this venture, he invested in property and timeshare, ultimately building a business empire valued at over half a billion pounds by 2007. Dubbed the grandfather of timeshare, Petchey’s marketing acumen both in the UK and abroad was instrumental in his success.

His resort in Albufeira, Portugal, was a key site for the timeshare boom, which lasted until the late 2000s when he sold his extensive leisure businesses conglomerate.

In 1969, Petchey ventured into property development, becoming one of Britain’s most successful businessmen.

 Involvement with Football

Petchey’s foray into football began in 1978 when he was appointed a director of West Ham United. His influence in the sport expanded when he purchased Watford Football Club from Elton John in 1987. Petchey served as Watford’s chairman until March 1994, when he resigned and sold the club back to the iconic singer.

Watford FC is currently owned by Gino Pozzo.

Family and Personal Life

Jack Petchey was born to Stanley James Petchey and Dorothy Irene Cubbon. Much is not known about his parents or potential siblings.

Petchey was married twice. His first marriage was to Diane Harrison in 1949, with whom he had four children. Details about his first wife and children remain scarce.

In 2016, at the age of 90, Petchey married Frances Segelman, a renowned sculptor from Leeds.

Segelman, an Associate of the Royal Society of British Sculptors, is celebrated for her busts of royalty and celebrity personalities, including Queen Elizabeth II, the Duke of Edinburgh, Joan Collins, and Joanna Lumley, among others.

Her statue of Leeds United legend Billy Bremner was unveiled at Elland Road in 1999.

Foundation and Awards

Sir Jack Petchey’s philanthropic legacy is prominently carried on by the Jack Petchey Foundation, which operates the Achievement Award scheme. This initiative recognizes and rewards the accomplishments of young individuals in schools and youth organizations, providing them with both recognition and additional funding.

The Foundation offers grants for educational visits and supports young volunteers in executing projects within the UK and internationally. It also serves as the primary funding body for the Petchey Academy and the Petchey Centre for Entrepreneurship. Additionally, the Foundation has a branch in Albufeira, Portugal, that mirrors the work of its British counterpart.

In 2008, Petchey was honored as a Scouting in London Ambassador for the Scout Association Region of Greater London during an Adult Appreciation ceremony.

Sir Jack Petchey was appointed Officer of the Order of the British Empire (OBE) in 2004 and later elevated to Commander of the Order of the British Empire (CBE) in the 2011 Birthday Honours for his charitable contributions. In recognition of his extensive work supporting young people in East London and Essex through his foundation, he was knighted in the 2016 New Year Honours.

On May 27, 2010, Petchey was awarded the Freedom of the Borough of Newham. He was also designated an Honorary Commodore in the Sea Cadet Corps, further reflecting his commitment to supporting youth and community initiatives.

 Net Worth

Throughout his life, Sir Jack Petchey was recognized for his significant contributions to business and philanthropy. His philanthropic efforts include the Jack Petchey Foundation, which supports youth programs and educational initiatives.

At the time of his death, Petchey’s net worth was estimated at £550 million.