The ownership squabble in Denver has begun to point to a Broncos sale, and prospective bidders made the trustees presently in charge aware true offers should materialize.
The three-person Pat Bowlen Trust has received offers for the franchise over the past few months, Daniel Kaplan of The Athletic reports (subscription required). While the offers cannot currently be entertained, Kaplan adds potential buyers contacted the trustees to let them know there will be extensive outside interest in acquiring the franchise. The Bowlen family has owned the Broncos since 1984, but recent events may lead to the franchise being put up for sale.
After the trial that was meant to clarify and finalize Bowlen’s estate (including future ownership of the Broncos) ended up being vacated this week, the future of the franchise is in flux. Two of Pat Bowlen‘s daughters from a previous marriage, Beth Bowlen Wallace and Amie Klemmer, filed suit challenging their father’s mental capacity to approve the trust. Pat Bowlen died of Alzheimer’s in 2019. Brittany Bowlen, the Hall of Fame owner’s youngest daughter, has received support from the trust to one day take over running the Broncos. Members of the league office are believed to be in favor of this path, and the 31-year-old Broncos staffer has confirmed her interest in becoming the team’s controlling owner as well. But multiple other Pat Bowlen heirs have contested this plan.
The trial to settle this matter being delayed indefinitely may mean a settlement has already been reached. Bowlen Wallace said she and Klemmer would walk away from a trial if the Broncos were put up for sale, so this week’s development would point to that being in the cards. A sale may not be imminent, however.
A strong chance exists the NFL will intervene and return the Bowlen-family squabble to arbitration, where it resided before Klemmer and Bowlen Wallace’s lawsuit, Kaplan adds. The NFL intervened recently in a Chargers ownership matter. The late owner’s widow, Annabelle, also has Alzheimer’s. Her death would lead to Pat’s seven children, from different marriages, possessing equal control of the franchise. The trust dictates the Bowlen children sign off on an ownership plan, and the NFL requires franchises have a sole decision-maker for league-related matters.
If the Broncos do become available, Kaplan notes a decades-old agreement may come into play. Previous owner Edgar Kaiser‘s estate claims Pat Bowlen gave Kaiser the right of first refusal in case the team went up for sale again. That would complicate bidding this time around. The Panthers sold for $2.275 billion in 2018; the Broncos, per Kaplan, would likely to go for more than $3 billion.
This has been a confusing situation for a while so this could very well be a dumb question…but if there’s already a debate over which of the seven kids would retain ownership, who would get the money if the team is sold?
I assume it would be divided between all of them since they would technically have an equal share of the team once Pat’s widow passes away, but if they could come to a compromise on this then you’d think they could figure out who the controlling person of the franchise would be too. It kinda just seems like the other six would rather lose the team entirely and make a quick buck than to see it stay in the family with Brittany.
The trust already picked one, Brittany Bowlen. Beth Bowlen Wallace has for several years been suing the trust for not picking her and throwing legal roadblocks up every time they attempt to move on. Most of the other kids haven’t had any involvement, but Beth Bowlen Wallace will occasionally recruit a family member to support her suit (she did so with her uncle and sister on separate occasions).
I have a really low opinion of her reasons for doing so, as she seems to be intent on making sure that either she gets the franchise or nobody else does. It’s pretty petty and low to force a sale to drop your already petty lawsuit just because you’re miffed about not being picked. Now nobody in the family, including the person picked according to her father’s wishes, will get the team. It seems like she’ll get her way.
Sooo, in summary, the Broncos either might, or might not, be sold. That clears it right up.
I’d be rather surprised if Molson Coors wasn’t one of the prospective bidders if the Broncos go on the sale block.
That’s not going to happen, since the NFL does not allow corporate ownership, with the exception of the Packers.
Jeff Bezos will be buying this team. It’s no secret he has the hots for owning an NFL team and he’s the only one with enough money to make them an offer they can’t refuse.