Tag: Broncos Owner

Another billionaire linked to Broncos sale proves to be a false alarm

Jeff Bezos and Robert F. Smith are not interested in buying the Broncos, if reports are to be believed.

John Elway and Peyton Manning are both interested in becoming owners of the Denver Broncos, but neither of them could afford to buy the team on their own.

That’s why Elway and Manning want to join an ownership group as minority investors, presumably with a billionaire serving as the controlling owner.

Several big names have been linked to the team as potential new owners, but none of them have stuck so far. Amazon founder Jeff Bezos has been mentioned repeatedly, but Peter King of NBC Sports has reported Bezos is not interested in buying the team.

Rapper/businessman Jay-Z has also been linked to the Broncos, but KUSA-TV’s Mike Klis reported in September there were “no developments” on that front. It seems the Jay-Z buzz was merely speculation.

Last month, Front Office Sports reported that billionaire Robert F. Smith had “emerged as one of the possible bidders” to buy the team. That appears to have been a false alarm as well.

“He is not a potential buyer and is not planning on purchasing the Broncos,” an unnamed source told Klis in a story published Monday.

So we’ve had a lot of speculation, but no real action so far. Broncos Wire will continue tracking the team’s latest ownership developments in the coming weeks.

[pickup_prop id=”18757″]

[listicle id=660421]

Robert F. Smith named a ‘possible bidder’ if the Broncos go up for sale

Robert F. Smith has an estimated net worth of $6.7 billion.

Robert F. Smith “has emerged as one of the possible bidders” to buy the Denver Broncos this offseason, according to Michael McCarthy and A.J. Perez of FrontOfficeSports.com.

Smith, 59, was born and grew up in Denver before going on to earn his bachelor’s from Cornell University and master’s from Columbia University. He now serves as the Chairman & CEO of Vista Equity Partners and owns homes in Texas, California, New York, Florida and Colorado.

The Broncos are expected to be sold this year in an auction-style sale that would award the franchise to the highest bidder. The team is worth $3.75 billion — according to an estimate from Forbes — but the club could go for more than $4 billion in a bidding scenario.

Smith as an estimated net worth of $6.7 billion, according to Forbes.

The businessman is also a philanthropist, notably donating $34 million to pay the student loan debts of 400 Morehouse graduates and their parents in 2019.

If he does bid to buy the Broncos, Smith would need approval from 75% of NFL owners for a potential purchase to be completed. One potential factor that might be considered in such a vote is Smith’s history with federal authorities, according to Front Office Sports:

After a lengthy investigation, Smith entered into a non-prosecution agreement with the Department of Justice in October 2020 that spared him criminal charges over allegations that he did not report $200 million of income to the IRS and used bank accounts in the British Virgin Islands and Switzerland to conceal assets.

Amazon founder Jeff Bezos and rapper/businessman Jay-Z have also been linked to the Broncos, but Peter King of NBC Sports reported last October that Bezos is not interested in buying the team.

Former quarterbacks John Elway and Peyton Manning, who both won Super Bowls in Denver, are interested in joining the next potential ownership group as minority owners.

The Broncos will make an announcement on their ownership plan (presumably an announcement of going up for sale) after the team hires a new head coach.

[pickup_prop id=”18757″]

[lawrence-related id=672102,672086,670163,665034,663338]

Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts

[listicle id=660421]

John Elway confirms interest in owning part of Broncos

John Elway confirmed his interest in owning part of the Broncos in an interview with 9News.

The Denver Broncos are expected to go up for sale this offseason, and two former quarterbacks are interested in joining a potential new ownership group.

There have been rumors for several months that both John Elway and Peyton Manning have interest in becoming minority owners. Manning downplayed that possibility in November, but Elway publicly acknowledged his interest in a recent interview with KUSA-TV’s Mike Klis.

“I do have interest in being a part of it,’’ Elway told Klis.

As a potential minority owner, Elway would welcome an advisor role.

“I’m not looking to be the face of the franchise,’’ Elway said. “Whoever puts up that kind of money and whoever is that owner, it’s their franchise. It’s their team. My hope would be to help support the new owner.”

Elway won two Super Bowls as a quarterback with the Broncos during his playing days before later returning to the team as an executive. He served as a general manager for 10 years, winning a third Super Bowl in 2015.

Elway stepped down from his GM duties last year but he will remain the president of football operations until his contract expires later this offseason. Elway would like to remain part of the team going forward, and joining a potential new ownership group would allow him to do so.

Meanwhile, Manning has not yet announced his potential interest, but Klis reported Monday that the ex-QB is “listening to prospective investors” who have reached out to him. Joe Ellis, the team’s president/CEO, is expected to announce a transition toward a sale after Denver hires a new head coach.

[listicle id=660421]

Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts

[vertical-gallery id=642364]

Potential auction-style sale would award Broncos to highest bidder

If the Broncos have an auction-style sale, the highest bidder would be awarded the team (so long as other NFL owners approve).

The Denver Broncos are expected to hit the market this offseason, and the people currently running the team might not have much say on who becomes the next owner.

The Pat Bowlen Trust — Joe Ellis, Rich Slivka and Mark Kelly — “have a fiduciary duty to the beneficiaries to get the highest possible price, pending NFL approval,” according to KUSA-TV’s Mike Klis.

The trust has been running the team since Bowlen stepped down to battle Alzheimer’s in 2014, five years before his death. The trust is now expected to have an auction-style sale to award the team to the highest bidder.

Such a sale would be good news for Bowlen’s beneficiaries — his seven children (who each own 11.14%) and his brother John (22%). It might not necessarily put the team in the best possible hands, though.

But as Klis noted, the league’s 31 ownership groups would have to approve of Denver’s new owner, so there is a possible scenario in which the highest bidder could fail to buy the team if NFL owners do not approve.

For now, the Broncos remain focused on hiring a new coach. After that, they will make an announcement regarding the ownership situation.

[listicle id=660421]

Follow the Broncos Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts

[listicle id=670827]

Pat Bowlen’s niece hopes for ‘better front office leadership’ and ‘an owner that cares’

Julie Bowlen calls for the Broncos to get “better front office leadership and an owner that cares and is committed to winning.”

The Denver Broncos are expected to be sold this offseason, presumably outside the Bowlen family, ending an era that started with late owner Pat Bowlen in 1984. After the team’s season finale last week, Pat Bowlen’s niece, Julie, posted the following statement on her Instagram page:

The highlight from the last Broncos game this year happened before the game even started. A much and well deserved tribute to the late Dan Reeves who passed away on New Years Day. He truly set a standard of excellence and winning that has been sorely missed for the last 6 years. As the Bowlen family likely said goodbye to 38 years of owning this team it is my hope the next owner returns the sense of family that lead to the success, helped set a standard of togetherness, respect, excellence, accountability, and the drive to win as a team and organisation. The low light could be any of a number of stats, 13th straight loss to the Chefs (dating back to 2015) another losing season (6th straight) but the kick in the gut for me was realising the only other team as bad as us (no winning seasons or playoff appearances) in the last 6 years is the NYJ…. Yes we are that bad. How have we fallen so far from the greatness established by the likes of Reeves, Shanahan and my uncle? How has the only standout QB since 1998 been the few years we were blessed with Manning? Simply put it’s time to get a proper QB, better front office leadership and an owner that cares and is committed to winning! I am truly blessed and grateful to have been there for the good ole days, to have seen the greatness they created and to have shared it with so many amazing people in the organisation back then! Things may change a little, but I guarantee I will still be out in the stands, in my happy place amongst the fans, cheering on the team that has brought so much joy and so many memories to my life! Thanks you to my mom and dad, to Denver and all the Broncos fans, and all the players, coaches and employees that were part of those first 25 years. Good riddance to those that destroyed it, stole the fun, failed the team and fans, killed the standard of excellence, dishonoured the franchise and Pat’s legacy. Bring on new and better times ahead!!!

Julie is the daughter of Bill Bowlen, one of Pat’s brothers. Bill was a minority owner before selling his shares in 2000. Bill attempted to have the trust that’s been controlling the team since Pat’s death removed from power through a lawsuit but it was dismissed in 2019.

That trust will be relinquishing control when the team is sold. Fans in Denver can only hope — as Julie does — that better days are ahead for the franchise.

[listicle id=660421]

[vertical-gallery id=620142]

 

Peter King: Jeff Bezos not interested in buying Broncos

Jeff Bezos is “not interested” in buying the Broncos, “at least now he’s not,” according to Peter King.

The Denver Broncos appear to be trending toward being sold in the spring, and the accomplished franchise with a passionate fan base should have no trouble attracting potential buyers.

Jeff Bezos, the founder of Amazon, is not expected to be among the billionaires potentially bidding to buy the team.

Here’s what Peter King of ProFootballTalk.com reported Monday:

If the seven children of Pat Bowlen cannot agree on a succession plan, the franchise trustees are likely to sell the team. Now I’ve heard that at least four individuals of means have been actively digging around to discover if said purchase will be smart. When I say “of means,” I mean those in private business who have billions to spend. As for all of those (Robert Kraft and Jerry Jones, among others) who’d love to see Jeff Bezos get involved in ownership of an NFL franchise, I hear he’s not interested. At least now he’s not.

Last month, Front Office Sports listed Bezos and rapper/businessman Jay-Z as potential buyers for the Broncos, but it seems that was merely speculation. Forbes recently estimated that the Broncos are worth $3.75 billion, so it wouldn’t be surprising to see the team eventually sold for more than $4 billion.

Pro Football Hall of Fame quarterbacks John Elway and Peyton Manning are both interested in potential partial ownership roles, but neither Elway nor Manning could afford to buy the team on their own.

The franchise is not currently for sale and right now, Denver’s just focused on finishing the 2021 season. Broncos Wire published a list of eight potential candidates to buy the team in July. By next summer, one of those eight candidates — or perhaps someone unexpected — could be the new owner.

[listicle id=660421]

Roger Goodell comments on Broncos’ ownership situation

“For us, we want to make sure that his wishes are followed,” NFL commissioner Roger Goodell said.

During the Broncos’ end-of-season press conference, president/CEO Joe Ellis indicated that if beneficiaries would not sign off on Brittany Bowlen eventually becoming the team’s next controlling owner, the franchise might be sold to a new owner outside of Pat Bowlen’s family.

Bowlen died last June after a long battle with Alzheimer’s disease. The team is now under control of the trust that he set up in his name. Bowlen tasked the trust with passing down ownership of the team to one of his children when a qualified candidate emerged.

During his media availability on Wednesday, NFL commissioner Roger Goodell was asked about the possibility of the Broncos being sold.

“It starts with what Pat Bowlen’s wishes were,” Goodell said, via The Athletic’s Nicki Jhabvala. “He established the trust to make sure there was an orderly transition of the franchise if something should happen to him. Unfortunately, that did, and Pat wanted to make sure the franchise was in good hands, in good management.”

Goodell didn’t have much new information to offer but he reiterated that the league aims to follow Bowlen’s plan.

“He wants his franchise, the Denver Broncos, to continue to have that success, and that’s why he set up the trust the way he did. For us, we want to make sure that his wishes are followed. I don’t think he’d be happy about the public disputes that are going on.”

The main dispute comes from Beth and Amie, two of Bowlen’s daughters, who are attempting to have the Pat Bowlen Trust removed from power through a lawsuit. The trust has previously said that Beth is not qualified or ready to take over as owner. Her sister, Brittany, is the most likely candidate to become the next owner.

“Unity is something that I think as an organization in the NFL, you have one person who makes a decision on behalf of an ownership group,” Goodell said. “That’s a vital and principal point in our ownership policy, and that is what Pat understood, he wanted that, and we need to have that in the case of all franchises. So that, at some point in time, will have to develop in the context of the Broncos.”

[vertical-gallery id=631819]