Denver Broncos Greenlit For Sale. Will They Be Sold To The Highest Bidder?
The Denver Broncos are finally moving in the right direction as far as having a new owner, but how will the team's new owner be chosen? Auction style with the highest bidder winning could be a possibility.
Denver Broncos For Sale
Last week, Denver Judge Shelley Gilman ruled in favor of the trust that is overseeing the Broncos. The final hurdle is gone, freeing up the team for a potential new owner.
Aside from the dispute with the former Broncos owner, Edgar Kaiser's family over having first right of refusal in the team's sale, the Bowlen "children" have also been slowing the sale process.
Since there wasn't an agreement on who would take over the team, the trust is moving forward with the sale.
Who Will The Denver Broncos New Owner Be?
Like we've talked about, now that the team is "clear" for sale, names are starting to pop as potential new owners of the team.
Obviously, John Elway wants the team, but apparently, the other Broncos Hall Of Fame Quarterback Peyton Manning wants in on the action as well. Even though John Elway and Peyton Manning have done quite well for themselves, neither quite have the $3.75 billion to cover the team's valued sale price so this could quickly turn into a battle of the billionaires between Elway and Manning's potential partners.
Now it's being reported that the team will likely be sold to the highest bidder which could take the price even higher than originally thought.
Denver Broncos Could Be Sold Auction Style
As mentioned above by Broncos Insider Mike Klis, the responsibility of the trust is to get as much as they can for the beneficiaries and an auction would get just that. Even after the highest bidder wins, that ownership group would have to be approved by all of the 31 other NFL owners so the highest bidder might not win after all if the owners do not approve.
Could be an interesting few months in Broncos Country.