Russian President Vladimir Putin walked off with New England Patriots owner Robert Kraft's diamond-encrusted 2005 Super Bowl ring during a recent meeting with U.S. business executives. But not to worry: Kraft says the ring was a gift to Putin, presented out of "respect and admiration." No hobbits, just Patriots owner Robert Kraft, left, News Corp. Chairman Rupert Murdoch, and Vladimir Putin (note the precious Super Bowl bauble in the Russian president's left hand). Earlier, The Boston Globe had speculated that Kraft hadn't meant to give away the ring. "I showed the president my most recent Super Bowl ring," Kraft said in a statement released Wednesday. The Russian president "was clearly taken with its uniqueness," Kraft said. "At that point, I decided to give him the ring as a symbol of the respect and admiration that I have for the Russian people and the leadership of President Putin," Kraft said.