REPORT: Denver Broncos garnering interest from multiple bidders for potential takeover
The Denver Broncos franchise is looking for new ownership, and there's no shortage of possible buyers. Denver CEO Joe Ellis decided not to reveal any potential buyers due to confidentiality preconditions.
Although the team CEO didn't give specific names, he stated the numbers.
Joe Ellis: There is a “significant” amount of interest in owning the Broncos “from a number of very, very qualified bidders.” https://t.co/vlefsU5ocC
In an interview with a local news station in Denver, Ellis stated that the number is more significant than five but under 20 when it comes to the bidders for the franchise:
“It’s more than five and less than 20,” “And there’s a lot of people that would like to be involved in some part whether they’re . . . the controlling owner [or not]. It’s been a pretty robust process so far . . . and I’ll stick to the timeline I think I said back in January, which is we should have a new owner in place by the start of the regular season. I cannot guarantee that.”
Additionally, he said that there are a "lot of qualified people who have a significant interest" in buying the team and are "passionate about the team."
The two known names interested are familiar names to many: Hall of Fame quarterbacks elway' target='_blank' rel='noopener noreferrer'>elway' target='_blank' rel='noopener noreferrer'>elway" target="_blank" rel="noopener noreferrer" data-is-sponsored="false">John Elway and Peyton Manning. Both have been alluded to as maybe being involved in ownership groups.
However, it wouldn't be in the capacity of a controlling owner because of the enormous financial demands.
Ellis stated this when it came to both Elway and Manning:
“They’ve inquired is what I would tell you, “And they can speak for themselves about what they are inquiring about and what their interest is. Certainly, I think either one would be well-accepted by a group if a group or a potential owner would want to include them in the group. We’ll see where that shakes out.”
Why are the Denver Broncos up for sale?
Former owner Pat Bowlen died in June 2019 after a lengthy battle with Alzheimer's. The Bowlen Family released a statement in February this year, indicating a change of ownership.
The statement read:
"When Pat Bowlen purchased the Denver Broncos in 1984 with the help of his siblings—John, Bill and Marybeth—he set out with the goal of being No. 1 in everything. Over the past 38 seasons, his vision enabled the Broncos to become champions on and off the field.
"With today beginning the Broncos' transition to new ownership, 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."
“From the bottom of our hearts, thank you for this incredible ride. It has been the honor of our lifetime.”
A message from the Bowlen family with the Broncos set to transition to new ownership: https://t.co/FP7DJEqiHv
According to Forbes, the franchise is valued at $3.75 billion. Under Bowlen's ownership, Denver reached the playoffs 18 times, winning the Super Bowl three times.
Bowlen was inducted into the Pro Football Hall of Class of 2019 posthumously.