• Loading stock data...
Sunday, July 21, 2024
Join us this September for Tuned In Request to Attend

Broncos, Potential Owners Take Next Step in Sale Process

Denver-Broncos
Ron Chenoy-USA TODAY Sports

All five ownership groups bidding for the Denver Broncos reportedly submitted proposed amendments to the sale contract last week after their lawyers were asked to mark up the agreements before any exclusive negotiations are determined.

The requests come ahead of the deadline for second-round bids in June.

The purchase amount could fetch a record price for a professional sports team. Outlets have indicated the sale price could surpass $5 billion and possibly top the recent $5.2 billion price tag for Chelsea FC, which is in the process of being finalized.

  • Todd Boehly, who is leading the consortium expected to take over Chelsea FC, also leads a group in the running for the Broncos.
  • Rob Walton, heir to Walmart founder Sam Walton with a $58 billion net worth, is another bidder.
  • Josh Harris, co-chair of Harris Blitzer Sports & Entertainment and a Philadelphia 76ers owner, leads a group that includes Earvin “Magic” Johnson.
  • There are two other unknown groups vying for the team.

Matter of Months

Sports Business Journal reported that the winning bid is expected to be announced before the start of training camp in July.

The agreement will then be subject to full league vetting, final negotiations, and approval — a new owner is expected to officially be in place by Sept. 12, the start of the regular season.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

A Year Into Josh Harris Era, Commanders Unable to Fully Break From Past

It’s been one year since Dan Snyder sold the Washington Commanders.

Lamar Jackson, Troy Aikman in Legal Battle Over the Number Eight

The two quarterbacks both have trademarks with the number.

Jaguars Sue Ex-Employee for $66.6 Million After Thefts

This could help the Jags avoid suing FanDuel and DraftKings directly.

Odell Beckham Jr. and Nike Claim Victory in Jury Ruling That Hands Both $0

The two sides were suing over alleged contract breaches, including OBJ’s gloves.
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
An artistic rendering of the new proposed Everton stadium in Liverpool.

Déjà Vu: Everton Loses Takeover Bid From U.S. Investor

The Premier League club is back on the hunt for a new owner.
July 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
July 17, 2024

Braves’ Bold Plans, Political Backdrop Shape All-Star Game Prep

The Braves plan a series of upgrades to Truist Park while looking to avoid dwelling on state politics.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
Jun 23, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Paul Skenes (right) reacts as he talks with pitcher Jared Jones (left) after the seventh inning against the Tampa Bay Rays at PNC Park.
July 12, 2024

The Pirates Are Facing Political Pressure to Play Better

Pennsylvania state representatives call on the MLB club to boost its payroll.
Apr 12, 2024; Sacramento, California, USA; Phoenix Suns guard Grayson Allen (8) and guard Devin Booker (1) and guard Bradley Beal (3) and forward Royce O'Neale (00) and forward Kevin Durant (35) huddle up before the final seconds of the fourth quarter at Golden 1 Center.
July 12, 2024

The Suns Have Entered the NBA’s Uncharted, Punitive Territory

The NBA’s first $400 million team between payroll and projected luxury tax.
July 12, 2024

Oakland Minor League Baseball Team Experimenting With Fan Ownership

The Ballers say more than 1,000 people have registered interest.
Oct 5, 2023; Landover, Maryland, USA; Washington Commanders owner Josh Harris with fans before the game against the Chicago Bears at FedExField.
July 11, 2024

Parts of the Commanders’ Past Finding Their Way Into Harris Era

The team is developing plans to honor former logo designer next season.