NFL Team Announces It Is up for Sale
An NFL team is looking for new owners. This week, the Denver Broncos announced they are officially up for sale and will likely have the biggest price tag in North American Sports history, according to ESPN. The Broncos are valued at just under $4 billion and owned by the Pat Bowlen Trust.
"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," the Bowlen Family said in a statement. "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."
“From the bottom of our hearts, thank you for this incredible ride. It has been the honor of our lifetime.”
— Denver Broncos (@Broncos) February 1, 2022
A message from the Bowlen family with the Broncos set to transition to new ownership: pic.twitter.com/FP7DJEqiHv
The Bowlen family continued: "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."
To be a majority owner, a person must own at least 30% of the franchise, according to league rules. This means whoever is investing in the team will need to control $1.2 billion. There are several groups reportedly interested in purchasing the team, and Pro Football Hall of Fame quarterbacks John Elway and Peyton Manning have expressed interest in joining one of the groups.
"Selling an NFL team is a complex process involving numerous parties and league approval procedures. Nonetheless, the trustees hope to have the sale completed by the start of the 2022 NFL season, Broncos CEO Joe Ellis said. The Broncos are a special franchise that is part of the fabric of this region, and whoever emerges as the new owner will certainly understand what the team means to our great fans and this community." The Broncos are one of the top franchises in the NFL as they have won 15 division championships, eight AFC Championships and three Super Bowl titles.