Clear frontrunner emerges in the race to buy the Denver Broncos
Going, going, gone? The Denver Broncos sales process is gathering steam and it seems that a clear frontrunner is now emerging from the pack. The Pat Bowlen Trust, which owns the Broncos at the moment, is in the process of finalizing a sale of the franchise to the highest bidder, with no option of backing away from the sale. That means, come what may, the one who stumps up the most money rides away saddling the Broncos.
The date for the second round of submissions is June 6th and there are four distinct groups that are bidding for the prize. They are led by Rob Walton, Josh Harris, Mat Ishbia and Jose E. Feliciano respectively.
Rob Walton, because of his net worth as the Walmart heir, and because the Broncos are expected to fetch at least 5 billion USD, seems to be the one in the box seat.
Multiple bids of $4.5B or higher are expected on Monday in the Broncos sale, source tells me.
Depending on how much space there is between bids, things could move quickly from there.
The four horsemen looking to tame the Denver Broncos
Rob Walton's net worth is around 70 billion USD. So for him, stumping up 5 billion USD is almost like fishing for loose change. Therefore, it is is pretty much his to lose. However, note that a bidding war can increase the price to above that mark and then it comes down to how long each prospective owner retains their interest. Therefore, it is important to look at the others still in the running.
The Josh Harris group already owns the Philadelphia 76ers in the NBA and the New Jersey Red Devils in the NHL. In the NFL, they hold 5% stake in the ownership of the Pittsburgh Steelers and are looking to have their own franchise instead.
The group that contains Josh Feliciano also contains Todd Boehly, who recently took control of English soccer club Chelsea FC. Whether that affects their interest in the franchise remains to be seen. Either way, it will be Feliciano who will be the chief representative of the group and therefore, Boehly's activities elsewhere might not be that big of a factor.
Finally, there is Mat Ishbia, who is the CEO of a mortgage company based out of Michigan. Mat Ishbia alone is worth 11 billion USD and his brother Justin also adds another 1.4 billion USD to the valuation.
Josh Harris, Rob Walton, Jose E. Feliciano & Mat Ishbia are the four groups' lead partners who have visited the Broncos' facilities.
9news.com/article/sports…
All four of these groups have visited the Denver facility and remain interested. Seeing as Rob Walton has the money to outbid all of them. it will come down to how much he is willing to pay to purchase the franchise.