Patrick was named "The Sporting News" Executive-of-the-Year in 1998 and 1999. He is the third generation of his family to have his name inscribed on the Stanley Cup and the third generation to be enshrined in the Hockey Hall of Fame (in the Builder Category). Patrick spent two years as athletic director at the University of Denver (his alma mater) in 1988–1989. He was enshrined into the United States Hockey Hall of Fame in 1996. He was awarded the Lester Patrick Trophy, named for his grandfather, in the 1999–2000 season for his outstanding service to hockey in the United States.