NFL Rumors: Broncos expected to sell for north of $5 billion
The Denver Broncos are still up for sale and the price could exceed well above $5 billion dollars. The procession of possible owners for the Denver NFL team is still ongoing, with one of the richest men in the world mulling around the idea of buying the lone NFL franchise currently on the market.
According to several reports, Walmart's heir and former company chairman Rob Walton visited Empower Field at Mile High and Broncos’ headquarters in Dove Valley. Walton has a net worth of $69.5 billion.
Per source with knowledge of the dynamics of the process, the sale of the Broncos is now expected to generate at least $5 billion.
He’s the second prospective owner to have made the trip thus far. Philadelphia 76ers co-owner Josh Harris made the trip as well. Harris has partnered with NBA great Magic Johnson in the bid.
From earlier: The Broncos bid gets a little Magic sportico.com/business/sales…
Walton would become the wealthiest NFL owner by far, overtaking the current holder, Carolina Panthers owner David Tepper, by an excess of $50 billion.
Walton is the eldest son of the late Sam Walton, who founded the Walmart discount retail stores. The 77-year-old Walton is also the uncle of Ann Walton, who married Los Angeles Rams owner Stan Kroenke in 1974.
Source confirms ownership candidate Rob Walton and his group is visiting the Broncos today. (1st by @woodypaige). Josh Harris was in last Thursday and Friday. #9sports
Denver had hoped to have the sale of the team completed by the beginning of the 2022 season. Deals of this magnitude have a tendency to take as long as they take.
If, in the long run, two or more groups get into a bidding battle that necessitates time to resolve itself, the impediment becomes very favorable to the members of the late Pat Bowlen’s family, who will split the final proceeds.
The value of NFL teams is on the rise, and that trend will continue. At one point, the Broncos were anticipated to be sold for an amount in the neighborhood of $4 billion. It’s already jumped to $5 billion. By the time the paperwork is signed, it could go even higher than that.
Other Known Potential Owners for the Broncos
There are currently five groups bidding for the Denver franchise and there could be more on the horizon.
Per Mike Klis of 9News in Denver, Walton, Harris, and Todd Boehly, the new owner of Chelsea FC, are the contenders we know of. The two other groups are moving forward presently anonymously, for the time being.
Either way, it seems whoever wins this bidding battle will have to pay a hefty sum of money to do so. We’ll see how this continues to develop throughout this offseason.