If you’ve got a couple billion dollars laying around you too could become an NFL owner. The Denver Broncos were officially put up for sale this week in what’s expected to be the most lucrative pro-sports deal in North American history.
Denver is currently valued at just shy of $4B, which would easily eclipse the $2.4B mark Steve Cohen dished out to purchase the New York Mets back in 2020. The team will be put up for sale by the Pat Bowlen Trust which has been operating the team after Mr. Bowlen removed himself from day to day operations in 2014. Bowlen is currently suffering from early onset Alzheimers.
Already several groups of potential buyers are emerging, with former Broncos greats John Elway and Peyton Manning entering into talks with potential investors to become minority owners themselves.
The Bowlen family issued the following statement on the team website:
“When Pat Bowlen purchased the Denver Broncos in 1984 with the help of his siblings—John, Bill and Marybeth—he set out with the goal of being No. 1 in everything. Over the past 38 seasons, his vision enabled the Broncos to become champions on and off the field.
“With today beginning the Broncos’ transition to new ownership, our family is overwhelmed with gratitude for what this organization and community have meant to us. There are truly no words to express our deep appreciation to all of Broncos Country for its unwavering support during the past four decades.
“We will forever cherish Pat’s leadership as a Hall of Fame Owner and CEO, guiding the Broncos to three World Championships, seven Super Bowls, 13 AFC West titles and 21 winning seasons. Off the field, Pat ensured his team gave back to the Denver community with the same passion that Broncos fans displayed every Sunday in the fall.
“Nothing Pat accomplished would have been possible without the players, whom he loved dearly. Thank you to those who proudly wore the Broncos jersey over the years for your commitment to winning and serving our community.
“Our family is eternally grateful for the coaches, support staff and team employees for all of their contributions. Thank you for your countless sacrifices and dedication to the Broncos.
“Pat used to say the Broncos belonged to the fans and that ultimately this was their team. From the bottom of our hearts, thank you for this incredible ride. It has been the honor of our lifetime.
“All of us know that the impact of ‘Mr. B’ will live on with the Broncos and in the hearts, minds and memories of the fans.
“We will always cheer for the Orange and Blue. Go Broncos!”
The most recent NFL sale involved the Carolina Panthers whom current owner David Tepper purchased for $2.275B back in 2018. Should the Broncos sale go through prior to the 2022 NFL season kicking off, it would mark a dramatic changing of the guard in Denver.
Current GM George Paton was hired in January of 2020, head coach Nathaniel Hackett was just brought in this offseason, and new owners could be in place by the fall if the NFL board of governors approves the sale. Couple that with the ongoing rumours that Aaron Rodgers could be headed to the Mile High City this offseason as well, and suddenly the Broncos could be virtually unrecognizable from the team they fielded in 2021.
Denver currently holds a warchest of picks for the upcoming NFL draft, including the 9th overall selection this spring. Additionally, depending on who the team elects to bring back next year, the Broncos could be looking at up to $60M in cap space this offseason.
Investors are expected to begin submitting offers to the Bowlen Trust in the weeks following the Super Bowl.