Broncos line up firms to assist with looming sale process

NFL WEEK 16 "u2013 DETROIT LIONS VS. DENVER BRONCOS
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With a new coach in play, it’s time to go looking for a new owner.

Via Sports Business Daily, the Broncos have hired both a banker and a law firm for its looming sale. Allen & Co. will do the deal, and Proskauer will handle the legal side of the transaction.

Forbes has placed a value of $3.75 billion on the franchise. Ultimately, however, it’s worth whatever someone will pay for it. With gambling-related revenue expected to nudge values higher and higher, someone could place a premium on purchasing the Broncos.

Proskauer represented Panthers founder Jerry Richardson in 2018, when he sold the team for $2.28 billion. That’s the most recent sale of any NFL team.

Pat Bowlen, who died in 2019, bought the team in 1984. His seven children own roughly 11 percent each, with Bowlen’s brother, John, holding the remainder.

During his battle with Alzheimers disease, Pat Bowlen placed the team into trust. The three trustees were tasked with identifying which of the seven children would be best suited to running the organization. Although they eventually targeted Brittany Bowlen, in-fighting among children from two different Bowlen marriages prevented the seven heirs from getting on the same page, necessitating a sale of the team.

The impetus for the sale was the league’s recent insistence that all teams have one controlling owner, with clear and undisputed power to speak on behalf of the franchise. The NFL’s position on this dynamic helped clean up a long-simmering ownership issue in Tennessee, without an external sale. In Denver, the league’s demand for one owner in charge means that the franchise will be getting a new one.

13 responses to “Broncos line up firms to assist with looming sale process

  1. It’s ridiculous that those seven children–acting like spoiled children–couldn’t come to some sort of consensus. Owning an NFL team is a cash cow and they, and their offspring, would be set for years to come. Sure, they’ll get a windfall from the sale but that’s peanuts compared to what they would have made over a decade or more.

  2. Let’s see now. Each billion is a thousand millions so that means we’re talking 3,750 millions, more or less. Will you take an IOU?

  3. Yes, however it’s better for Bronco fans that we get a new owner that has deep pockets. Bowlen’s wealth wasn’t that great compared to many other owners(Jones, Kroenke, Kraft etc.). We need a new owner with deep pockets and doesn’t mettle. Oh, and one that wants to build a new state of art stadium with a dome and not use a penny of taxpayers money. I can dream can’t I?

  4. itsamadmadmadmadworld says:
    January 29, 2022 at 9:27 am
    It’s ridiculous that those seven children–acting like spoiled children–couldn’t come to some sort of consensus. Owning an NFL team is a cash cow and they, and their offspring, would be set for years to come. Sure, they’ll get a windfall from the sale but that’s peanuts compared to what they would have made over a decade or more.
    _________

    $3.75 billion split seven ways equals $535+ million for each Bowlen child. I’m pretty sure that a sale means that they and their offspring will be set for years to come.

  5. It’s totally understandable, especially considering the kids are from two different marriages. But look at some of the other 31 owners. It’s too bad some of them weren’t forced to sell when pops passed away.

  6. It’s gotten to the point in the current modern day NFL…that these billionaires view owning an NFL team as just a “marking off the list” of accumulating wealth without knowing a thing about effectively running an NFL franchise.

  7. As a Broncos fan, I’m glad they’re selling. They couldn’t figure out who would have the overall power and that leads to disaster. In any successful organization, there needs to be a strong leader who makes the final decisions on important matters and owns their decisions, otherwise it become chaos if the 7 people in charge are infighting. Imagine how long hiring a GM or signing off on a coach could take if they are at odds with each other and the families take sides. No thanks. I’d prefer a wealthy person that will follow the Bowlen model: Hire NFL professionals to run the team and only intervene when absolutely necessary (like when he head to step in and fire GM and HC Josh McDaniels).

  8. All Bezos needs to do is look in his trash for $3.75 bill. Denver has a lot of space to launch rockets from.

  9. Just because the Broncos are valued at $3.75 billion, that doesn’t mean the bidding won’t get higher.

    I would assume that Bezos is waiting for the NFL to force out Snyder in Washington. There is a group led by a businessman in Denver named Robert F. Smith that’s a multi-billionaire that’s interested and the NFL is salivating at the thought of having a black owner. I’d assume it’ll be him.

  10. To the buffoon above that wants to build a dome stadium: You want our stadium looking doom and gloomy like Minnesota or what? A retractable roof is ok but closed dome? No thank you! I love Denver’s open air grass field, it needs to stay that way.

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