It appears that another Black mogul is gearing up to possibly become the first Black majority owner of a National Football League (NFL) team.
In January 2021, AfroTech previously shared that while the Denver Broncos going up for sale in the NFL offseason was initially pending, Robert F. Smith shared his interest in placing a bid on the team. By Feb. 1, the football team officially went up for sale — commencing the bidding war.
Since then, a source close with Smith disclosed that the billionaire isn’t planning to make a purchase, according to Denver’s 9 News.
“Robert’s priorities right now are on the fight for voting rights and economic justice rather than being…an owner of a team,’’ said the source. “He continues to be most focused on how he can best help underserved communities gain access to capital, healthcare, education, and the ballot box. Pursuing ownership of the Broncos is not on his radar right now.”
With Smith reportedly stepping out of the possibility of making history, Byron Allen is now entering the chat.
On Feb. 8, Byron Allen announced that he wants to buy the Broncos, according to Bloomberg. In a statement to the outlet, the media executive shared that his decision was inspired by a discussion around the league that he had earlier on.
“NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft came to me in November of 2019 and asked me to take a good look at buying an NFL team,” Allen shared in his statement. “And after serious consideration, I strongly believe I can effectuate positive changes throughout the league. And for that reason, I will be making a bid for the Denver Broncos.”
The Potential Of Byron Allen's Broncos Bid
Allen has built a successful media empire from acquiring The Weather Channel to purchasing Bayou City Broadcasting that has calculated into a net worth of $450 million, as previously reported by AfroTech.
The Broncos are reportedly worth $3.75 billion and would have to honor the highest bid, according to Denver’s 9News.
“If the team is put up for sale, a legal source familiar with the Broncos’ ownership transition told 9News that it would likely be through auction because the team is under the Patrick D. Bowlen Trust umbrella,” the outlet reported. “This means the trustees would have a fiduciary responsibility to the trust’s beneficiaries (the seven Bowlen children, and Pat’s brother John) to go with the highest bidder, pending approval from 24 of the NFL’s 32 owners.”