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#pounditFriday, September 30, 2022

Broncos share big news about sale of franchise

John Elway looks ahead

Aug 24, 2018; Landover, MD, USA; Denver Broncos executive vice president and general manager John Elway stands on the field during warm ups prior to the Broncos’ game against the Washington Redskins at FedEx Field. Mandatory Credit: Geoff Burke-USA TODAY Sports

The sale of the Denver Broncos can now proceed without issues.

The trustees of the Pat Bowlen estate have been looking to sell the Broncos, but there was one minor complication. When Bowlen purchased the team from Edgar Kaiser Jr. in 1984, Kaiser obtained a right of first refusal (ROFR) in the case Bowlen were to sell the team. Even though a judge ruled in January that the ROFR was no longer valid, the trustees of Kaiser’s estate challenged that ruling via a court motion.

According to 9 News in Denver’s Mike Klis, the Bowlen estate and Kaiser estate reached a settlement that resulted in the motion being dissolved.

The result of the motion being dissolved is that those interested in bidding on the Broncos can do so freely without worrying about the Kaiser estate having an opportunity to match the bid.

The Broncos’ CEO has said that there are between 5-20 bidders on the team.

The sale price of the Broncos is expected to be in the multiple billion dollar range.

The Broncos have won three Super Bowls in franchise history, including in the 2015 season. They haven’t made the postseason since then, but their future is looking better since the Russell Wilson trade.

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