Byron Allen plans on buying Broncos

[Ja Rhule]

9News' Mike Klis reports that media tycoon Byron Allen is set to submit a bid to buy the Denver Broncos.

Allen is a business and media mogul who is the head of the entertainment company Entertainment Studios. According to Allen, Roger Goodell and Robert Kraft went to him in November of 2019 and asked him to think about purchasing an NFL team. He told Bloomberg on Tuesday that he is preparing to submit a bid to purchase the Broncos.

 

Cheers to future first black owner of NFL franchise.

Edited February 9, 2022 by Ja Rhule

[Khyber53]

Wow, Byron has really done well for himself! Good luck on buying the team, I think he'll certainly help the League evolve to a better place!

 

[mrcompletely11]

3 minutes ago, Khyber53 said:

Wow, Byron has really done well for himself! Good luck on buying the team, I think he'll certainly help the League evolve to a better place!

 

Dude must have the midas touch.  Stand up comedian to NFL owner is quite the path

[NYPantherFan]

I wonder who he will add to his ownership group to get the rest of the money. No way his net worth of $450M will get the job done alone.

[Ja Rhule]

Apparently he was handpicked by Kraft and Goodell so of this happening is probable.

[jamos14]

He doesn't even have 25% of what it will take to purchase them.  Must be a large ownership group if he will be the majority owner.

 

[4Corners]

This is going to make EZUPantherFan and Bull123 angry 

[Ja Rhule]

Just now, jamos14 said:

He doesn't even have 25% of what it will take to purchase them.  Must be a large ownership group if he will be the majority owner.

 

Has to be.  Broncos owner want to sell, she inherited the team after death and she don’t want it.  I think this way in development for quite sometime behind the scene.

[45catfan]

23 minutes ago, NYPantherFan said:

I wonder who he will add to his ownership group to get the rest of the money. No way his net worth of $450M will get the job done alone.

Yeah, only billionaires were in the running for the Panthers.  Heck, when it was speculated John Elway or Peyton Manning were interested, they were forming ownership groups because not even those guys have enough money to buy the Broncos outright.

[stirs]

So NFL and other NFL owners have actively been recruiting black owners for several years?

I guess lots of people will have to eat some crow around here

[jamos14]

4 minutes ago, 45catfan said:

Yeah, only billionaires were in the running for the Panthers.  Heck, when it was speculated John Elway or Peyton Manning were interested, they were forming ownership groups because not even those guys have enough money to buy the Broncos outright.

I honestly don't know what is the best for teams.  

 

Ownership groups can be messy with internal power struggles.

or

One billionaire who has completely unchecked authority.

 

Both have potential to suck. 

[Snake]

He will be 100% better owner than Tepper. That's for sure. The NFL really screwed us with this nut ball. 

[Tbe]

So how is this going to work? 
 

Current rules state the majority owner must own at least 30% of a franchise.

If Byron liquidated everything he owns, he could only buy 22% (assuming a $2B price).

Are they going to give him a huge discount or something or his he taking on a massive pile of debt.

Edit: The team is worth $3B.

Edited February 9, 2022 by Tbe

[gofightwin]

2 minutes ago, Tbe said:

So how is this going to work? 
 

Current rules state the majority owner must own at least 30% of a franchise.

If Byron liquidated everything he owns, he could only buy 22% (assuming a $2B price).

Are they going to give him a huge discount or something?

Broncos are worth way more than $2B.  Forbes has them worth 3.75b.