Media Mogul Bryon Allen reportedly is preparing a bid to purchase the National Football League’s Denver Broncos. If successful, Allen would become the first Black majority owner of an NFL franchise.
In a statement, Allen spoke on the potential bid saying “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. And after serious consideration, I strongly believe I can help effectuate positive changes throughout the league,” Allen said in a statement. “And for that reason, I will be making a bid for the Denver Broncos.”
Founded in 1960, the Broncos are currently owned by the Bowlen Family. Pat Bowlen passed away in 2019, leaving the team in the hands of his children. After litigation surrounding the inheritance and the Bowlen family was setting in January, the team was put up for sale. The Broncos is reportedly worth 3.75 Billion but the sale price could be way beyond that.
To purchase “controlling interest” of 30%, a 1.125 Billion Dollar investment is required and a prospective buyer can’t have more than $1 billion in debt.
Allen, 60 is the chairman and chief executive officer at Allen Media Group. According to The Grio, (which he owns as well), Allen Media owns 36 ABC-NBC-CBS-FOX network affiliate stations in 21 U.S. markets and twelve 24-hour HD television networks serving nearly 180 million subscribers. In 2021, Allen acquired more than a dozen local broadcast stations, including 10 local stations in seven markets divested from the Gray Television transaction with Quincy Media. Allen also owns The Weather Channel.
The NFL has dealt with issues around diversity and inclusion over the past couple of years. The latest is surrounding the Racial Discrimination lawsuit against the NFL, and 3 teams including the Broncos, filed by former Miami Dolphins head coach Brian Flores. The lack of African American’s in coaching and front-office positions and ownership is at the heart of Flores’ class-action lawsuit. The NFL currently has one minority owner, Shad Khan of the Jacksonville Jaguars.
SOURCE | The Grio
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Media Mogul Byron Allen To Prepare A Bid To Purchase The NFL’s Denver Broncos was originally published on blackamericaweb.com