Report: Favorite to become new Broncos owner emerges
The Denver Broncos have had plenty of interested prospective buyers since it was announced that the organization was up for sale. Now, just a few months later, the team is reportedly in the final stages of getting a new owner, and a favorite reportedly has emerged.
Woody Paige of The Denver Gazette reported on Thursday that the competition to buy the team is down to two finalists.
Paige reports that the group in the lead is led by Walmart heir Rob Walton, as well as family and minority partners. The other is a group headed by current co-owner of the Philadelphia 76ers and New Jersey Devils, Josh Harris, and includes an NBA legend.
Whichever of the two winds up as the Broncos’ new owner is expected to pay a record-breaking deal for a professional sports franchise, according to Paige.
“The ultimate bid for the Broncos will exceed $4 billon, and as much as $4.5 billion or more at auction, and become the record price paid for a professional sports franchise in the world,” Paige wrote.
Paige reports that Walton may have a leg up on Harris. According to the report, Walton would build a new stadium in Denver to rival that of the Los Angeles Rams.
Five groups made initial offers to purchase the Broncos. Of the five, only Walton, Harris and Los Angeles Dodgers investor Todd Boehly were named publicly.
The Broncos have won three Super Bowls in franchise history and have a rabid fanbase. But the team has not made the playoffs since the 2015 season.