Report says five possible Broncos buyers to meet with management in May
Apr 18, 2022, 1:03 PM | Updated: 1:12 pm
Are the Denver Broncos closing in on finding a new owner?
According to Sportico, the list has been narrowed down to five potential candidates that will meet with team management in early May about buying the team. They have all submitted bids, but the publication only identified three candidates in the article, with the other two remaining a mystery.
The perceived favorite is Rob Walton, an heir to the Wal-Mart fortune, worth nearly $70 billion. He’s the 11th richest person in the United States and would immediately become the wealthiest NFL owner if he acquired the team. His cousin, Ann, is married to Stan Kroenke, who owns the Los Angeles Rams and of course the Colorado Avalanche, Denver Nuggets, Colorado Rapids and other sports teams.
Next on the list is Josh Harris, who owns the Philadelphia 76ers and New Jersey Devils. His net-worth has been pegged at about $7.5 billion. The final name to be mentioned by Sportico is Todd Boehly, worth about $4.7 billion. Boehly is a minority owner in both the Los Angeles Dodgers and Los Angeles Lakers.
The Broncos sale is expected to shatter the record for the most paid for a U.S. sports team, with the Brooklyn Nets previously going for $3.3 billion. It’s largely expected the Broncos will sell for more than $4 billion, with valuations ranging anywhere from $4.2 to $4.8 billion. The trust which runs the team, led by CEO and President Joe Ellis, has said it has a “fiduciary obligation” to the benefactors to sell the Broncos to the highest bidder.
According to Sportico, “all five Broncos groups are expected to have minority investors, a stated priority of NFL commissioner Roger Goodell. Goodell has spoken openly about the league’s belief that it can diversify it ranks while maximizing the value of the club. There are very few non-white NFL owners, even among team limited partners.”
Representatives for the team and Allen & Co., which is handling the sale for the trust of late Broncos owner Pat Bowlen, declined to comment to Sportico.
***
