The field is narrowing for candidates to purchase the Broncos. Among the semifinalists is the group headed by Byron Allen, per Mike Klis of 9News.
The media mogul was one of the first prospective buyers to be named as an interested party back in February. He confirmed that the NFL had approached him years earlier about the possibility of buying a franchise when the opportunity arose. Doing so successfully would make the 60-year-old the first Black owner in the league.
Klis notes that Allen is set to become the third candidate to visit the Broncos’ facility. While his personal value is dwarfed by other potential buyers, he is “backed by a handful of investors with deep pockets”, per Klis. On that point, he adds that is is presently “unclear” whether or not Allen himself would assume the duties of controlling owner in the event of his group submitting the winning bid for the team.
While Klis further states that “the number of ownership groups under consideration is fluid”, it is still believed that former Walmart chairman Rob Walton remains the favorite to win the bidding process. The other candidate which has met in-person with team executives is Josh Harris; the New Jersey Devils owner Philadelphia 76ers managing partner recently made headlines when it was announced that NBA icon Magic Johnson is joining his ownership group.
It has been known since April that the winning bid will be valued at a minimum of $4B, so Allen’s inclusion on the shortlist of potential buyers demonstrates the wherewithal of his group. With the general belief still being held that the sales process will be completed in time for the start of the 2022 season, the competition amongst the various parties to submit the highest bid (and the role the likes of John Elway and Peyton Manning could play whenever said process is complete) will be worth watching in the coming weeks.