Broncos announce they're for sale with price tag expected to break records
The Denver Broncos are officially for sale, team president Joe Ellis announced in a statement Tuesday.
"The Pat Bowlen Trust announced today the beginning of a sale process for the Denver Broncos," the statement reads, in part. "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.
"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."
Pat Bowlen purchased a majority stake of the Broncos in 1984 and served as their CEO until he stepped down in 2014 due to an Alzheimer's diagnosis. Bowlen died in June 2019, leaving the Pat Bowlen Trust -- a three-person committee consisting of Ellis, Broncos vice president Rich Slivka, and lawyer Mary Kelly -- in charge of finding the next owner.
The price to purchase the Broncos is expected to exceed $4 billion, a record-breaking number for a sports franchise.
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