Tag: Owner

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.

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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.

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Legal battle won, Broncos can now move toward sale

The Broncos are now one step closer to likely being sold.

Story update: A Denver judge has ruled that ROFR Holdings Ltd.’s “right of first refusal is no longer valid or enforceable in any respect,” according to KUSA-TV’s Mike Klis. That has cleared the final roadblock for the Broncos to potentially move toward a sale. See our original post below.

The Denver Broncos are expected to be sold this spring, but an ongoing legal dispute has seemingly slowed down the process.

In his end-of-season press conference on Sunday, Broncos president/CEO Joe Ellis said he can’t provide an update on the team’s ownership situation until the legal matter is resolved.

“I think most of you are familiar of the fact that we are in a trial — a case in the hands of the court and the right of first refusal case — between Edgar Kaiser and Pat Bowlen,” Ellis said. “Out of respect for the court, I’m going to wait and get back to you at a later date on that …. I want the court to be able to let its process see through to the end.

“From there, I’ll be able to get back to you and let you know where things stand. I don’t have a timeline on that, but I just want to respect the court and let the judge decide what decision will be rendered at what time. It’s certainly her decision.”

ROFR Holdings Ltd. claims to have the right of first refusal passed down from Kaiser, who sold the team to Bowlen in 1984. The Broncos argue that the ROFR agreement between Bowlen and Kaiser is no longer valid because both men have since died. Now the court has to decide.

In the meantime, a potential sale remains on hold.

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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.

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Reports outline Gayle Benson’s Saints ownership succession plan

Reports outline Gayle Benson’s Saints ownership succession plan

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The Times-Picayune | Advocate and WVUE-TV reported the first installment in a three-chapter series on the future of the New Orleans Saints on Thursday, the details of which were confirmed by ESPN’s Mike Triplett.

Here’s the gist of it: Benson, 74, has no heirs and intends for the Saints to be sold upon her passing to a buyer who is contractually-bound to keep the team in New Orleans, and for the proceeds to be donated to charities throughout the city. Saints president Dennis Lauscha will serve as the executor of her estate (and, if he is no longer around, for team executives Mickey Loomis and Greg Bensel to see to it).

That would create an influx of potentially several billions of dollars — the latest estimates value the team at more than $2.5 billion — to the New Orleans community, distributed over the years and committed to serving those who need it. Additionally, the Superdome recently inked a long-term naming-rights deal with Caesars Entertainment, which includes options to extend the arrangement another ten to twenty years, further raising the Saints’ valuation. There are still many details to be worked out, but it’s good to know that money would be put to good use.

The future of the Saints has been a topic of curiosity and anxiety ever since longtime owner Tom Benson died in 2018; now, we know there’s a plan in place to keep the team where it belongs and directly benefit the fans and community that have made it so special.

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Peyton Manning, John Elway linked to Broncos in ownership buzz

If the Broncos are sold, John Elway and Peyton Manning are both expected to have interest in joining a potential ownership group.

If the Denver Broncos do not remain in the family of late owner Pat Bowlen, a sale could happen as early as 2022.

If the Broncos do hit the market, the team will undoubtedly draw plenty of suitors, with two former quarterbacks potentially among them.

Jason La Canfora of CBS Sports reported Sunday that Peyton Manning has “had contact with potential ownership groups to glean how he might be able to have a role both as a potential minority investor as well as perhaps with the management of the team.”

Shortly after that CBS report emerged, KUSA-TV’s Mike Klis reported that John Elway also “has interest in being part of [an] ownership group if the team should be put up for sale.”

Of course, this interest will only become relevant if the team is put on the market, and that hasn’t happened — yet.

Forbes recently estimated that the Broncos are worth $3.75 billion. Neither Manning nor Elway would be able to afford that kind of price tag on their own, but either one of them could be the face of an ownership group with multiple investors.

It remains to be seen if Manning and Elway would be willing to combine to form one ownership group bid. Otherwise, the Hall of Fame quarterbacks might be headed for a bidding war between themselves.

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Washington owner Dan Snyder gets off easy with fine

Washington owner Daniel Snyder was fined $10 million last week. He truly got off easy.

It’s not often you are fined $10 million and somehow appear unscathed.

Well, most people aren’t NFL owners, where a $10 million fine is a drop in the bucket for one of the richest and most powerful men in the United States.

The NFL fined the Washington Football Team and owner Daniel Snyder $10 million last week for the rampant misconduct in the organization during his tenure as owner. Snyder immediately released a statement through the team’s official website, where he ultimately pleaded ignorance.

This is the first paragraph of Snyder’s statement:

I have learned a lot in the past few months about how my club operated, and the kind of workplace that we had. It is now clear that the culture was not what it should be, but I did not realize the extent of the problems, or my role in allowing that culture to develop and continue. I know that as the owner, I am ultimately responsible for the workplace. I have said that and I say it again.

Also, in his statement, Snyder said he would step aside from the day-to-day operations of the team for the next several months, and co-CEO — Snyder’s wife Tanya — would oversee the team and represent the club in all league matters.

There was no suspension for Snyder. Sure, some would interpret his stepping away from day-to-day management of the team as a suspension, but it isn’t. If Snyder was going to be suspended, the NFL would have announced it.

Instead, the fine is paid, Snyder says he is backing off, and before you know it, he is back like nothing ever happened.

Mark Maske of the Washington Post did say NFL commissioner Roger Goodell would have to approve of Snyder’s return to daily control of the team.

Nicki Jhabvala of the Washington Post summarized the NFL’s “punishment” perfectly.

Beth Wilkinson’s investigation into Washington’s workplace culture lasted for close to one year. Ultimately, the team was fined $10 million, yet there is no written report for the public to review? Don’t blame Wilkinson.

Snyder can still court investors, work on a new stadium, but gets a vacation of sorts from running the team on a day-to-day basis. Oh, and he can still attend games.

Does anyone believe Snyder isn’t going to be heavily involved in day-to-day operations when his wife is the co-CEO? Sure, he won’t be in Ashburn every day, but this is 2021; there are plenty of ways he can stay involved.

Through Wilkinson’s investigation, the NFL determined that many allegations involving the misconduct, particularly toward women, did exist. They admitted so in a statement. However, instead of truly punishing Snyder, they helped him buy out his former minority owners to take 100% control of the franchise.

What kind of message does that send?

Over the past year, there were plenty of rumors about what would happen to Snyder at the end of Wilkinson’s investigation. Most realized nothing of consequence would happen, such as forcing him to sell, because other NFL owners feared the bad precedent that could set.

The NFL hopes Snyder has learned his lesson. Perhaps he has. But there are over 20 years of data points suggesting otherwise.

There is hope for fans of the Washington Football Team, though. Snyder’s hiring of head coach Ron Rivera and team president Jason Wright have ushered in a new era. In addition to Rivera and Wright, Washington has also hired several other talented and diverse leaders, signifying a positive organizational shift.

Rivera and Wright are respected around the league and are good human beings. That cannot be overlooked. The franchise is actually making sound decisions, earning respect from other teams and fans.

On the field, it certainly feels like Washington is turning the corner. But we’ll know for sure after the 2021 season. It’s important to remember; the Football Team did finish 7-9 last season.

As for Snyder, he and the organization will pay the fine, say a lesson was learned and return to the team. Only time well if he’s truly changed.

Forbes: Broncos are 11th-most valuable team in the NFL

The Broncos are worth $3 billion, making them the 11th-most valuable franchise in the NFL.

The Denver Broncos are the 25th-most valuable sports team in the world and the 11th-most valuable NFL team, according to a 2020 estimate from Forbes. The franchise moved up one spot in the world ranking from last year (No. 26) but Denver kept its No. 11 ranking among NFL clubs.

Forbes estimates that the Broncos are worth $3 billion, a notable increase from their valuation of $2.65 billion in 2019. Denver is the most valuable team in the AFC West, above the Las Vegas Raiders ($2.9 billion), Los Angeles Chargers ($2.5 billion) and Kansas City Chiefs ($2.3 billion).

Forbes says the Dallas Cowboys are the most valuable sports team in the world, worth $5.5 billion. MLB’s New York Yankees ($5 billion) and the NBA’s New York Knicks ($4.6 billion) are Nos. 2-3 on the list.

Late Broncos owner Pat Bowlen purchased the team for $78 million in 1984. Right now, the team is under the control of the Pat Bowlen Trust. Brittany Bowlen, one of Pat’s daughters, appears to be the frontrunner to become the next controlling owner.

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ASVEL Villeurbanne president Tony …

ASVEL Villeurbanne president Tony Parker said that promoting T.J. Parker, his brother, to the head coach position was an “obvious” decision towards his goal to keep the club’s French identity and preserve a certain level of continuity. “This new coaching staff is an obvious choice for us,” Parker said in a press conference held in Astroballe arena, Tuesday (23/6), per ASVEL. “Our wish was to remain a 100% French club and work in continuity. T.J. [Parker] has been at the club for eight years and now it’s a good time to give him a chance. Now we have to bring trophies. Our coaching staff is very comprehensive and of a very good standard for France. Frederic Fauthoux can bring a lot to T.J. with his experience and that can make a difference.”

Running an NFL team as a co-owner might be Peyton Manning’s next move

Peyton Manning might become a general manager/partial owner of an NFL team in the future.

In a feature story about Peyton Manning published this week, Bleacher Report’s Kalyn Kahler reported that the former quarterback wants to “run a team with an ownership stake,” citing three unnamed sources.

Manning has received plenty of interest from television networks who want him to call NFL games and there have been rumors about teams gauging Manning’s interest in potentially joining a team as an executive.

Manning might end up becoming a commentator or general manager/partial owner at some point but right now, he’s in no rush to make a decision about his future.

Manning told Kahler that working for a team’s front office is “just not something that I have moved on yet.” That could — and probably will — change in the future, but fans shouldn’t expect Manning to take over a team anytime soon.

Manning has ruled out the possibility of coaching and he’s turned down multiple TV offers. Running a team might be Manning’s next job but it’s unclear how long it will be until that happens — the right opportunity has to become available and Manning has to feel ready to accept it.

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