The Denver Broncos officially are up for sale. While this has long been expected, the announcement confirms the beginning of the sale process, which could very well end up as the most lucrative in NFL – if not North American professional sports – history.
In a pair of tweets, the team relayed statements from president Joe Ellis and the Bowlen family. The former notes that the franchise retained Steve Greenberg as a financial advisor and Joe Leccese as legal advisor for the sale process, which the team hopes to have finished by the beginning of the 2022 season. It concludes: “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 latter, meanwhile, acknowledges the fan base’s role in the team’s success during Bowlen’s tenure as owner and CEO: “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.” It continues, “From the bottom of our hearts, thank you for this incredible ride. It has been the honor of our lifetime.”
As Ryan O’Halloran of the Denver Post details, this sale will be somewhat unique in that it is an auction, the proceeds of which will go from trustees to the beneficiaries (seven of the late Pat Bowlen’s eight children). Again, that was already know prior to Tuesday, but it is part of the reason this sale is expected to be so lucrative. It is widely believed, and has been for quite some time, that the price will end up around the $4 billion mark, part of which may be covered by Broncos icon John Elway. That figure would easily break the NFL record for sale price, which was set in 2018 when David Tepper bought the Panthers for $2.275B. It would also eclipse the North American record of $2.35B set by the Brooklyn Nets’ sale.
More must-reads: