John Bowlen, brother to Denver Broncos owner Pat Bowlen, is looking to sell off his 30-35 percent of the team.
That’s a minority interest. The majority ownership is safe and isn’t going anywhere. Also, Bowlen does not appear angry with the direction the team has taken or anything else within the organization. It’s just about the money.
“Personally I think the price is going to be good and we seem to have some interest,” Bowlen said, per Nicki Jhabvala of the Denver Post. “So that’s it.”
Some reports had claimed he was unhappy. He quickly shot those down. The team also put out a statement to clarify his position.
“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,” that statement reads. “John has never made any statements to the contrary. 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.”
So, what eventually happens to the majority share? It looks like it will stay in the family. Pat also has a son named John.
“Pat Bowlen’s majority share in the team will transfer to his children,” wrote NBC’s Darin Gantt, “with one of them to be picked as controlling partner.”
Forbes has estimated that the team is worth around $2.4 billion. That appears to be the sole reason for John Bowlen’s sale, as he’ll get over $700 million.
The post John Bowlen is planning to sell his share of the Denver Broncos appeared first on All 22.
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