NFL Denver to be sold in 2022 for $4B? Will NFL relax debt limit? UPD Walton group to purchase for $4.65B
- Thread starter LadyStanley
- Start date
Mightygoose
Registered User
Apparently Jeff Bezos is interested
Jeff Bezos interested in buying Denver Broncos - TSN.ca
He can just sweat the money to pay for it in cash.
Jeff Bezos interested in buying Denver Broncos - TSN.ca
He can just sweat the money to pay for it in cash.
LadyStanley
Registered User
Bezos was mentioned in article as one of a handful of folks who could come in and just pay for it, not having to have any debt.
LadyStanley
Registered User
There's reason for NFL to fear Jeff Bezos. But it's not big enough to keep him out, especially if London is in play
If you’re commissioner Roger Goodell, you sell Bezos on being the man who will revolutionize the reach of the league rather than just another owner like everyo...
Bezo's worth about $200B, more than the major stakeholders of the 32 NFL teams combined.
And given Amazon as a business partner, pretty much he can write his own way.
But will he leverage his fortune to help the NFL to achieve its dreams?
If you’re commissioner Roger Goodell, you sell Bezos on being the man who will revolutionize the reach of the league rather than just another owner like everyo...
Bezo's worth about $200B, more than the major stakeholders of the 32 NFL teams combined.
And given Amazon as a business partner, pretty much he can write his own way.
But will he leverage his fortune to help the NFL to achieve its dreams?
LadyStanley
Registered User
Broncos will be put up for sale, Pat Bowlen Trust announces
Paywall. Trust hopes to complete sale by start of 2022 season.
Paywall. Trust hopes to complete sale by start of 2022 season.
LadyStanley
Registered User
Broncos announce that the team is for sale
Ownership hopes to have the sale completed in time for the 2022 season.
Forbes valued team at $3.75B
Ownership hopes to have the sale completed in time for the 2022 season.
Forbes valued team at $3.75B
LadyStanley
Registered User
NFL wants capital behind Broncos bids early in process as record deal approaches
Paywall. NFL wants to see the capital behind bids early in the process.
Paywall. NFL wants to see the capital behind bids early in the process.
LadyStanley
Registered User
Magic Johnson Joins Bid For Denver Broncos—His Latest Venture Into Team Ownership
The Broncos sale is expected to be the most expensive in sports history.
www.forbes.com
Star power. (But how much capital?)
Voight
#winning
Bidding War for Broncos Ownership Expected to Escalate
The battle for the Denver Broncos is reportedly down to four bidders. Entertainment mogul Byron Allen is now considered a long shot.
frontofficesports.com
If bidding gets really serious, they could top the record set by Walter & Co last week with the Chelsea sale.
I'm not sure how Harris is bidding. NFL rules state you can't own a team if you have ownership in teams in the other big 3 leagues that aren't located in the same city. Guessing he does what Kroenke did w the Avs/Nuggets and puts the team in his wife name or something along the lines of that.
KevFu
Registered User
Not quite. The rule was (possibly still is) that NFL owners can't own teams in other sports in another NFL owner's market. The Seattle Seahawks owner Paul Allen (now his estate) owning the Portland Trailblazers is totally fine; but Kroenke owning the St. Louis Rams, and the Nuggets/Avs in Denver was not.
They had the rule because NFL/MLB teams shared multipurpose stadiums A LOT, so if -- For Example (I'm not looking up ACTUAL lease details here) -- the owner of the Cleveland Browns buying the Cincinnati Reds or Pittsburgh Pirates might let them set the price on the rent of the Cincinnati Bengals or Pittsburgh Steelers; Or even allow the Browns owner to evict another NFL team from the stadium. The rule was meant to prevent THAT kind of shenanigans.
That's why the NFL really didn't care about Kroenke's WIFE owning the Avs/Nuggets: There's no chance of meddling in lease stuff. They compete for fans, sure, but even though they're two different people, it's not like the Kroenkes can't easily work in cahoots when they're husband and wife. But there's really no damage to be done.
They technically still HAVE the rule, but it's "relaxed" because the number of teams sharing stadiums with MLB/NBA teams (the New Orleans Jazz is why the rule includes NBA/NHL) has dropped.
From 1960-2016, 23 NFL teams shared stadiums with MLB/NBA at one point. But by 2003, it was down to FOUR. And now it's at ZERO.
Voight
#winning
Correct, I forgot the nitty gritty of it.
You might be right cause Harris owns the 76ers/Devils so it wouldn't make any sense to be bidding.
Unless he does what I mentioned before and has his wife be the "owner"
BKIslandersFan
F*** off
I think they got rid of that rule.
EDIT: Yup.
NFL owners vote to allow cross-ownership in cities with football teams
NFL owners voted Tuesday to lift the longstanding cross-ownership prohibition, meaning they are now free to own a different professional sports team in cities that have an NFL team.
www.latimes.com
KevFu
Registered User
Ok, they DON'T still have the rule. I saw the source saying the rule was "relaxed" and not abolished.
Voight
#winning
Forbes: Denver Broncos Expected to Be Sold for $4.5B to Walmart Heir Rob Walton
Rob Walton has the winning bid to purchase the Denver Broncos for $4.5 billion, according to <a...
Sale should be official soon.
LadyStanley
Registered User
Broncos accepting next round of bids Monday
The Pat Bowlen Trust put the Broncos up for sale on Feb. 1 with the aim to complete a deal before the 2022 NFL season.
theathletic.com
The Athletic is reporting that there are 4 remaining bidders. and there will be a bit of an "auction" on Monday (today). NO FAVORITES.
Walmart heir may be the top bidder at $4.5B.
This sets the bar for what the Seahawks will go for assuming that the reports are correct that the sports teams need to be sold.PaywallBroncos accepting next round of bids Monday
The Pat Bowlen Trust put the Broncos up for sale on Feb. 1 with the aim to complete a deal before the 2022 NFL season.
The Athletic is reporting that there are 4 remaining bidders. and there will be a bit of an "auction" on Monday (today). NO FAVORITES.
Walmart heir may be the top bidder at $4.5B.
KevFu
Registered User
Honestly, only $4.5 billion for an NFL team is a bargain.
I know Forbes has their methods, but NFL teams get sold so rarely (10 in the last 25 years) that if you want to get into the NFL, you pretty much have to blow the Forbes value out of the water.
A third of the league has been owned by one family since either the 1930s, or the franchises' entire existence. And 17 teams last "ownership change" was within a family due to death and not the team going up for sale.
I know Forbes has their methods, but NFL teams get sold so rarely (10 in the last 25 years) that if you want to get into the NFL, you pretty much have to blow the Forbes value out of the water.
A third of the league has been owned by one family since either the 1930s, or the franchises' entire existence. And 17 teams last "ownership change" was within a family due to death and not the team going up for sale.
That’s one thing that may change in the nfl moving forward. These teams have been owned by the same family but when the patriarch/matriarch passes does the family have the money from non football sources to cover the inheritance tax now that teams are work $4.5 bill plus?
Like with the raiders the Savis family doesn’t have anything that makes them money outside the raiders. So when Al’s widow passes, I don’t see mark securing the funds to cover the taxes.
Same goes for some of those older families. Be it the Bears, Lions, etc.
KevFu
Registered User
Yeah, I'd think that the NFL will absolutely adjust policies so that the tax can be covered. I don't think there's much problem getting a loan to cover the tax when the bank can see the Raiders are bringing in $400 million in revenue every season, so the loan will get paid back. They just need the NFL to allow the debt on that loan to approve the transfer from Carol to Mark.
We can see the debt isn't a big deal because the Yankees added like $500 million in debt when they opened their new stadium. They paid it off in like 5 years or less, because the Yankees generate $150 million in profit every year. No big deal. (The Mets opened their stadium at the same time, and they sold the naming rights to cover the debt).
The NFL policies are made by the owners, and it's like all of them in this situation, so they'll probably adjust the policy the second one of them gets an inheritance tax bill larger than the NFL max debt.
Voight
#winning
They pretty much already did.
NFL ownership percentage change aimed at keeping teams in families
Steep estate taxes make it difficult to pass a team from one generation to another, and the new threshold could help.
theathletic.com
LadyStanley
Registered User
Denver Broncos confirm new ownership
In a statement on Tuesday night, the Broncos organization confirmed “the Walton-Penner family have entered into a purchase and sale agreement to acquire the team.”
kdvr.com
Broncos announce sale to Walton-Penner group for a reported record $4.65 billion
The Walton-Penner ownership group reportedly purchased the Broncos for a United States record $4.65 billion.
sports.yahoo.com
With a typical NFL franchise now being worth well over $3 billion (and $4 billion + for a top-10 team like the Broncos), I don't know there are so many people in southern Ontario who actually think a team will ever relocate there or the region will receive an expansion team. It would cost around minimum $6 million Cndn. to secure a team and a stadium.
This price tag alone basically takes away most remaining US Markets for a NFL team. I don't see San Antonio or St Louis or really anyone else pony up that kind of money espeically when public funding likely needed.
