African-American entertainment mogul Byron Allen vows to purchase next NFL team up for sale following failed Broncos bid
NFL teams don't go up for sale often. They're huge revenue streams, even the ones that perform badly on the field. Owners typically don't want to sell franchises unless they absolutely have to. In the last 10 years, only three NFL teams have been sold, including the recent purchase of the Denver Broncos. During that span, only 10 sports teams have been sold at all.
The Denver Broncos have officially sold for $4.65B to Walmart heir Rob Walton and the Walton-Penner Family Ownership Group, making this the most money ever paid for a U.S. sports team
Walton will be the richest NFL owner with a net worth of over $59B, per @Forbes https://t.co/GqSMWbwI3F
However, if and when an NFL team does go up for sale, media mogul Byron Allen has sworn he will purchase the next one. Allen is an African-American entertainment icon. He opened up the eyes of companies to the buying power that his community held.
Allen lost out on his bid for the Denver Broncos but says he won't be denied again. He told TMZ Sports:
"Buying an NFL football team is a process and we had the pleasure of being a part of that process. We didn't get this one, but I'm highly confident we'll get the next one... We gon' find something. We're going to get it done. It's just a matter of time."
There's no telling which franchise might go up for sale next, but many believe the Washington Commanders need new ownership. However, they don't have to be sold any time soon.
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How many black franchise owners are there in the NFL?
Diversity has long been an issue in the league. League commissioner Roger Goodell publicly stated that he wanted more minority owners when the Denver Broncos became available. But how many are there now?
There isn't a franchise in the league whose principal owner is black. F1 driver Lewis Hamilton, former United States Secretary of State Condoleezza Rice, and President/co-CEO of Ariel Investments Mellody Hobson joined the Denver ownership team. They've joined a small number of minority stake, black owners in the NFL. Serena and Venus Williams are partial owners of the Miami Dolphins.
The ownership group that now owns the Broncos, the Walton-Penner ownership group, increases the number of owners that are minorities in the league. Hamilton joined Carrie Walton-Penner, the daughter of Walmart heir and Broncos owner Rob Walton.
With Rob Walton officially buying the Broncos, here is the updated list of the richest owners in American major sports:
1. Steve Ballmer, Clippers, $92B
2. Rob Walton, Broncos, $59.8B
3. Dan Gilbert, Cavs, $20.3B
4. Steve Cohen, Mets, $17.4B
5. David Tepper, Panthers, $16.7B
The only teams that have outright minority owners are the Jacksonville Jaguars and Buffalo Bills. Shad Khan owns the Jaguars and the Bills are co-owned by Kim Pegula and her husband.
Goodell and Byron Allen are hoping that that number increases with the next purchase. However, there's no telling if or when that might occur. As mentioned before, the sale of a franchise doesn't happen very often and there are always a lot of suitors.
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