"Goodell is putting tremendous pressure on him to bid" - NFL is begging Robert F. Smith to bid on Denver Broncos
The NFL will see an ownership change this offseason as the Denver Broncos are officially set to be sold this spring. Former Broncos quarterbacks Peyton Manning and John Elway have both surfaced as potential owners in the past.
Another name that has arisen as a potential owner is Robert F. Smith. Smith is a native of Denver, Colorado and grew up a fan of the Denver Broncos. He has also apparently shown interest in bidding for the team.
According to anonymous sources, NFL Commissioner Roger Goodell has reportedly been pushing for Smith to place a bid:
“Goodell is putting tremendous pressure on him to bid”
The recent litigation taken against the league by former Miami Dolphins head coach Brian Flores has likely played a role in Goodell's urgency. The league has struggled with diversifying its head coaches, front offices and team ownership. As of right now, the only minority team owner is Jacksonville Jaguars Shad Khan.
What is stopping Robert F. Smith from bidding on an NFL team?
Robert F. Smith became well known for a generous move he made in 2019. He paid off the student loan debt of the entire graduating class of Morehouse College.
Report: Denver Native Billionaire Robert F. Smith Emerges as Potential Broncos Bidder ow.ly/2ELi30s9xVY
He is a private equity investor who is worth over $6 billion. The Denver Broncos are likely to sell for about $4 billion at auction in a few months. While Smith possesses the funds necessary to purchase the team, the overall commitment of owning an NFL franchise is a venture Smith isn't prepared for at the moment.
The Denver Broncos are expected to fetch around $4 billion in a record ownership sale.
We asked investment bankers who they thought the next NFL team to hit the market would be.
The consensus? The LA Chargers ⚡️
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Sources close to Smith have said that he is currently working on a business traction with a Texas-based equity firm. Smith is also presently living in New York City and purchasing a team across the country would limit his ability to participate as an active member of the organization.
“Smith grew up as a Broncos fan and might want to buy a team, but not now while he is raising a fund.”
On February 1, 2022, the Denver Broncos went up for sale and the official date of auction will be announced soon. At this point, only time will tell if Smith does end up bidding on the franchise.