New England Patriots owner Robert Kraft allegedly revealed the that Vladimir Putin stole his Super Bowl ring worth more than $25,000 during a 2005 meeting in St. Petersburg with the Russian president, The New York Post reported Saturday.

Kraft had for years claimed the diamond-encrusted ring was a gift from him to Putin. He now admits Putin stole it and the White House intervened when he demanded it back.

The Patriots owner told the crowd at Carnegie Hall's Medal of Excellence gala at the Waldorf-Astoria.

"I put my hand out and he put it in his pocket, and three KGB guys got around him and walked out," he said.

Kraft further explained the incident to guests.

"I took out the ring and showed it to [Putin], and he put it on and he goes, 'I can kill someone with this ring.' I put my hand out and he put it in his pocket, and three KGB guys got around him and walked out," Kraft said.

After her returned to the U.S., Kraft explained that when he demanded the ring be returned, the White House intervened.  He was instructed to claim the ring as a gift. The goal was to do so in order to ease possible tensions between the Russia and the United States.

Kraft claims he kept telling U.S. officials he wanted his personalized 4.94-carat diamond-encrusted ring back and was told by the White House to leave the issue alone.

The ring is still reportedly in the possession of the Russian people in the Kremlin library.