Contrary to a prior report, the Denver Broncos are not for sale.
On Sunday morning, Nicki Jhabvala of the Denver Post reported that John Bowlen, the younger brother of Broncos majority owner Pat Bowlen, was looking to sell his minority, non-voting stake in the team. According to Jhabvala, John Bowlen owns roughly 30-35% of the franchise, which was recently valued at $2.4 billion by Forbes, and he was growing displeased with how the franchise’s succession plan for his brother was playing out.
The Broncos released an official statement shortly after they kicked off their game against the Oakland Raiders that quickly shot down any notion of the aforementioned minority stake being for sale, but it did mention that John Bowlen had been approached by an unnamed party that was interested in buying his share of the team.
Full statement from the Denver Broncos:
“Broncos Minority Owner John Bowlen, accompanied by his advisor, indicated at our Sept. 18 board meeting that he is extremely pleased with the way the organization is being operated under Joe Ellis in the absence of his brother, Owner Pat Bowlen.
John has never made any statements to the contrary, and at this meeting he voiced his full support for the contract extensions given to Ellis and other key team executives. John also indicated that although he is not actively looking to sell his minority, non-voting stake in the team, he recently was approached by someone who expressed interest in his share of the team.
This afternoon, John informed multiple members of the organization that the opinions attributed to him by an anonymous source in a media report did not come from him and do not represent his views.
As it relates to Owner Pat Bowlen’s controlling interest of the Denver Broncos, it is not for sale. The Pat Bowlen Trust is continuing to execute Pat’s succession plan with the hope of keeping the team in the Bowlen family.”
The post Denver Broncos owner denies interest in selling stake in franchise appeared first on All 22.
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