Broncos announce that the team is for sale
The Denver Broncos are officially for sale.
The franchise released a statement from the Pat Bowlen Trust on Tuesday announcing the sale alongside a statement from team president Joe Ellis.
"Whoever emerges as the new owner will certainly understand what the team means to our great fans and this community," Ellis said, per the statement.
The Pat Bowlen Trust announced today the beginning of a sale process for the Denver Broncos.
Joe Ellis: “Whoever emerges as the new owner will certainly understand what the team means to our great fans and this community.” pic.twitter.com/ubfPc4TjID— Denver Broncos (@Broncos) February 1, 2022
The team hopes to have the sale completed in time to start the 2022 season.
The state of the franchise's ownership has been a source of contention since former owner Pat Bowlen relinquished control of the team to a trust in 2014 after he was diagnosed with Alzheimer's disease. He died in 2019, and the team has remained under control of the trust since. Bowlen bought the franchise in 1984 and oversaw seven Super Bowl appearances that included three victories before his death.
The trust resulted in a legal feud among Bowlen's seven children and team executives over who would take control of the franchise. A series of legal decisions concluding with a Jan. 11 ruling by a Denver judge that negated an agreement between Bowlen and previous majority owner Edgar Kaiser cleared the path for the sale.
The Bowlens released a separate statement from the sale announcement on Tuesday.
“From the bottom of our hearts, thank you for this incredible ride. It has been the honor of our lifetime.”
A message from the Bowlen family with the Broncos set to transition to new ownership: pic.twitter.com/FP7DJEqiHv— Denver Broncos (@Broncos) February 1, 2022
“With today beginning the Broncos’ transition to new ownership, our family is overwhelmed with gratitude for what this organization and community have meant to us,” the statement reads. “There are truly no words to express our deep appreciation to all of Broncos Country for its unwavering support during the past four decades.”
Forbes valued the Broncos at $3.75 billion in 2021. The franchise is expected to fetch more than $4 billion in the sale, which would be a record price for an American sports franchise. Franchise great quarterbacks John Elway and Peyton Manning have both been mentioned in reports as interested in joining potential ownership groups.
