Broncos Trust Hires Investment Firm to Advise Sale

    • Broncos expected to set new high for a selling price of a sports franchise.
    • Allen & Co. was involved in the sales of the Mets, Nets and Panthers.

The trust in control of the Denver Broncos has tapped Allen & Co. to advise on the potential sale of the team.

The Broncos are expected to be sold — either through an outright sale or an auction — for around $4 billion, which would make it the most expensive franchise sale in sports history. 

A source told Front Office Sports that Allen & Co. would advise the Patrick D. Bowlen Trust “on all the potential opinions” related to the team’s expected sale. 

Sportico was the first to report Allen & Co.’s involvement.

Allen & Co.’s Major Deals 

Allen & Co.’s involvement is not surprising given its history of record-setting deals led by Steve Greenberg, the firm’s managing director.

  • The firm represented the Wilpon family as it sold its majority stake in the New York Mets for an MLB-record $2.475 billion to Steve Cohen in 2020. 
  • Allen & Co brokered Alibaba co-founder Joe Tsai’s deal to acquire the Brooklyn Nets and Barclays Center in 2019 for $3.4 billion, the most paid for a U.S. sports franchise. 
  • Greenberg advised Jerry Richardson in the sale of the Carolina Panthers to billionaire hedge fund manager David Tepper in 2018. The $2.275 billion sale stands as the most paid for an NFL team. 

FOS reported that billionaire investor Robert F. Smith is among those interested in purchasing the Broncos, while former Denver quarterbacks Peyton Manning and John Elway are reportedly interested in being part of an ownership group.