Jay-Z interested in purchasing the Denver Broncos
Music icon Jay-Z appears to be wanting to dip his toes into the world of sports and in particular, owning an NFL team. In order to do so, he might just have to take on one of the richest men in the world.
Front Office Sports is reporting that Jay-Z, a billionaire in his own right thanks to his music, is one potential buyer for an NFL team and in particular AFC franchise, the Denver Broncos. Pat Bowlen purchased the Broncos way back in 1984 and sadly passed away in June of 2019.
Jay-Z is already an owner of a professional sports team, being part-owner of NBA team, the Brooklyn Nets. However, his journey to own an NFL team will be a tough assignment as multiple sources are saying that Amazon founder Jeff Bezos is one who is interested in purchasing the Broncos.
In 2022, the Denver Broncos might just hit the buyer’s market as the franchise has stated that the transition of ownership will be an orderly determination of ownership. This could in fact, include the entire Bowlen family selling all stakes in the AFC West franchise. It is reported that the Broncos could sell on the open market for around $4 billion, something that is within reach for Jay-Z.
In July of this summer, the current president of the Denver Broncos CEO, Joe Ellie, released a statement to the public regarding the state of the team’s ownership and what that looks like going forward.
“Our goal is a timely, responsible, and orderly determination of ownership,” Ellis said. “What that will entail for us—there’s some things that we still need to work through—but our goal is to be able to lay out, when the season is over—and [head coach] Vic [Fangio] has promised that will be in the middle of February—that we lay out for everybody a timeline to a transition of ownership that will take place next year prior to the start of the season. That’s important. It’s important to the organization. It’s important to the beneficiaries—Pat [Bowlen]’s children—to get it resolved and we’re moving forward on that.”
Pat Bowlen bought the franchise for $78 million back in 1984 and according to reports, some of his daughters have doubts over the ownership of the team.
As with any deal, it is important to dot the I’s and cross the T’s to make sure the deal benefits both parties. All involved with the Denver Broncos hope this comes to a quick resolution.
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