Writer’s Strike End a Boon for Sports Networks, Agencies
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.
