New report says Broncos could fetch more than $5 billion in sale
May 10, 2022, 10:29 AM
The price tag just keeps going up and up.
As the Denver Broncos close in on finding their next owner, the eventual price they’ll fetch is rising. We always knew it was going to be a lot of money, but Pro Football Talk’s Mike Florio is reporting a new number the final sale could generate.
Per source with knowledge of the dynamics of the process, the sale of the Broncos is now expected to generate at least $5 billion.
— ProFootballTalk (@ProFootballTalk) May 10, 2022
$5 billion is such a crazy amount of money it’s hard to wrap your brain around. When this process first started, many thought the Broncos would go for around $3.5 billion. That number slowly morphed into North of $4 billion and for the first time we’re seeing $5 billion.
The Broncos sale will shatter the record for the most paid for a U.S. sports team, with the Brooklyn Nets previously going for $3.3 billion. The trust which runs the team, led by CEO and President Joe Ellis, has said it has a “fiduciary obligation” to the benefactors of the late Pat Bowlen to sell the Broncos to the highest bidder.
The perceived favorite to buy the team 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. Another 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.
Visits have begun at Broncos headquarters at Dove Valley and Empower Field at Mile High, with both Harris and Walton already coming to Denver and leaving town.
Regardless of how this all shakes out, it’s more clear than ever the Broncos are a highly sought after commodity and the final price will just keep getting higher.
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