Allen is expected to visit the Broncos’ stadium and practice facility in the near future. He would be the NFL’s first black controlling owner if his bid were successful.
ENGLEWOOD, Colo. — A source tells 9NEWS that one of the remaining property candidates to buy the Denver Broncos is Byron Allen, the comedian, actor and media mogul.
The source said Allen is backed by a handful of deep-pocketed investors to help him with his offer. Allen and his crew are expected to visit the Broncos’ stadium and practice facility in the near future, as at least two other known bidders, Josh Harris and Rob Walton, have done in recent days.
A source familiar with the Broncos’ property sale by auction told 9NEWS last week that 10 investment groups submitted first-round bids, after which the second-round field was narrowed to five. Another source told 9NEWS this week that the number of property groups under consideration is fluid and there could be more than five groups.
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Harris, owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils, was the first group to visit the Broncos last Thursday and Friday. One of his minority investors is Earvin “Magic” Johnson, who did not accompany the Harris group on the Broncos’ road trip last week. A source told 9NEWS that Johnson’s financial commitment to the Harris group is greater than the $50 million stake he has with the Dodgers.
Walton, the eldest son of Walmart Chairman Sam Walton and Walmart chairman for 23 years from 1992 to 2015, and his group were visiting Monday. Walton’s group includes his son-in-law Greg Penner, who took over as president of Walmart in 2015 and still serves in that capacity.
Todd Boehly, who has significant if minority stakes in the Los Angeles Dodgers and Lakers, is also on the Broncos even though he is winding up negotiations to buy the Chelsea soccer team in London for $4.25 billion. (American dollars).
There are still other unidentified groups as potential Broncos buyers, but 9NEWS learned Thursday that Allen is still under consideration. It’s unclear if Allen would be the majority owner of his group, but if he is and his offer is successful, he would become the NFL’s first black owner.
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NFL Commissioner Roger Goodell has publicly stated that the league strongly encourages greater minority representation among the 32 ownership groups, including the Broncos, who are for sale through the Pat Bowlen Trust. Pat Bowlen had owned the Broncos from 1984 until he was declared disabled by Alzheimer’s in December 2013.
Bowlen died in June 2019 from complications of Alzheimer’s disease.
Allen, 60, is arguably the most famous of the Broncos’ potential bidders. He has had national television exposure since he was 18 years old and doing a stand-up comedy routine on the “Tonight Show with Johnny Carson.” He later starred in the television show “Real People” from 1979 to 1984.
Since then, he has formed his own company, the Allen Media Group, which owns the Weather Channel and 21 local television stations across the country, from Honolulu to Huntsville. While Allen doesn’t appear to have the net worth of the Walton, Harris or Boehly groups, he does have enough money from his investment partners, according to one source, to put together a competitive bid for the Broncos.
The team is expected to have a final price in the range of $4 billion to $5 billion.
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