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Justin Ishbia

Latest On Broncos Ownership Bid Process

June 6th, 2022 at 9:06pm CST by Adam La Rose

With today’s deadline for second-round bids on the Broncos having come and gone, there are are few interesting developments regarding the ongoing sales process. Given what has already been reported on the subject, neither come as much of a surprise. 

With the four remaining groups having placed their bids this afternoon, the prospective owner seen as the favorite to ultimately take over the team is the same as it has been presumed for some time now. Troy Renck of Denver7 reports that Walmart heir Rob Walton “remains the clear frontrunner” to win the bidding process (video link). He adds that Walton’s bid “could be upwards of $4.5B”. Walton has been seen as the likeliest candidate for months, and that figure would fall in line with the expected value of the team.

Walton – who, Renck also notes would become the NFL’s all-time wealthiest owner should he be successful – is competing against three other bidders. Those groups are led by 76ers and Devils owner Josh Harris, whose party also includes Magic Johnson, the trio of soon-to-be Chelsea owners which would be led by Jose Feliciano, and brothers Mat and Justin Ishbia. Up until this second round of bidding, media mogul Byron Allen was still in the running, but only the four finalists participated today. The process could very well be complete by the end of the month.

Regardless of who becomes the next owner, they could recruit a familiar face as part of the beginning of their tenure overseeing the franchise. Mike Klis of 9News reports that all four of the finalists have spoken to Peyton Manning “to gauge his interest” in becoming a minority owner or advisor to the team. The Hall of Fame QB has previously made it clear doing so is a distinct possibility, though that was before the identities of the prospective buyers were known. Klis adds that there is “no word” on what Manning is currently planning with respect to any potential role in the new ownership group.

With another key checkpoint being reached in the sales process, the exact terms of the pending deal – and the particulars of who will be involved in the new regime – will remain worth watching for in the coming days and weeks.

Second-Round Broncos Bids Expected In Coming Days

May 31st, 2022 at 8:53pm CST by Adam La Rose

The process of finding a new owner of the Broncos is approaching a crucial next step. 9News’ Mike Klis reports (on Twitter) that second-round bids for the franchise are due by Monday.

That places a firm deadline on the bidding process, which was expected to reach this stage in the near future. As Klis notes, four groups are expected to place a bid, with the lone exception amongst prospects previously reported as showing interest being the one led by media mogul Byron Allen. He was still considered to be in the running earlier this month, but the list of finalists would seem to no longer include his name.

That leaves the group led by Rob Walton at the top of said list; the Walmart heir has a personal value of more than $70MM, and has consistently been labelled as the frontrunner to win the bidding process. Among his competitors is the pairing of 76ers owner Josh Harris and Magic Johnson, the group involving Todd Boehly (which is in the process of purchasing English Premier League club Chelsea) and, the most recent addition to the mix, brothers Mat and Justin Ishbia.

In a follow-up, Klis details that if the group including Boehly were to be successful, he would be a “limited partner”. Instead, Jose Feliciano would be the lead owner, something which would satisfy the league’s desire for minority ownership in this process. While Klis further tweets that the trio involving Boehly, Feliciano and Behdad Eghbali would constitute surprise winners in the bidding process at this point, they remain in contention to make a second major purchase in a matter of weeks.

With the next round of bids – long expected to approach the $5B mark, which would comfortably set a new North American sports record – set to be made in the coming days, Klis reports that the sales process could be completed by late June or early July (Twitter link). That would stay in line with the overarching thought that a new owner would be in place in time for the 2022 campaign, and bring an end to one of the league’s top off-the-field storylines.

Mat, Justin Ishbia In Mix To Buy Broncos

May 25th, 2022 at 7:54pm CST by Sam Robinson

The Broncos are down to five potential owners. Another of those groups became known Wednesday night. Brothers Mat and Justin Ishbia front a group that remains in contention to acquire the AFC West franchise, Mike Klis of 9News reports.

Mat Ishbia was a member of Michigan State’s national championship-winning 1999-2000 basketball team. He has since become quite successful in the mortgage business. The Ishbias toured the Broncos’ facility and met with team executives recently, Klis adds, noting Mat would be the controlling owner if this group makes the top bid. Mat Ishbia played three seasons with the Spartans, being on the Tom Izzo-coached team from 1999-2002. Yahoo Finance lists his net worth at around $11 billion.

This group joins the ones headed by Philadelphia 76ers owner Josh Harris and Magic Johnson, Walmart’s Rob Walton and longtime media mogul Byron Allen. Dodgers and Los Angeles Sparks part-owner Todd Boehly has been connected to this pursuit, but Klis notes it is not certain if he remains in the mix. Boehly has been in Europe finalizing his most recent high-profile acquisition, English Premier League club Chelsea. Allen has also yet to visit the Denver facility, but he remains in play to buy the team.

Walton was previously mentioned as the favorite here, while Harris’ group received the first tour. The team must accept the highest bid, one that is expected to approach or surpass $5 billion — a mark that would shatter the American professional sports record. Second-round bids for the Broncos have yet to take place, per Klis, but those offerings appear to be coming soon.