Media mogul and television host Byron Allen says he is preparing a bid to own the Denver Broncos, the NFL franchise that is currently for sale.
Allen, the founder, chairman and CEO of Allen Media Group, confirms to The Hollywood Reporter that he intends to make an offer for the team following talks between himself and NFL Commissioner Roger Goodell that began more than two years ago.
“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 said in a statement. “And after serious consideration, I strongly believe I can help effectuate positive changes throughout the league.”
His statement continued, “And for that reason, I will be making a bid for the Denver Broncos.”
THR has learned that Allen would be part of an investor group that would likely give a bid in the $3-4 billion range.
The NFL has never had a Black majority owner. Allen’s statement follows former Miami Dolphins head coach Brian Flores suing the league and three of its teams, including the Broncos, alleging racist hiring practices. The lawsuit noted that none of the 32 teams has a Black owner, despite the fact that 70 percent of the league’s players are Black.
Broncos president and CEO Joe Ellis announced in a statement earlier this month that the team is parting ways with the Bowlen family, who previously owned the team. Last year, Forbes valued the Broncos at $3.75 billion.
The Brooklyn Nets set the record for the highest price of a U.S. pro sports team when its sale to Alibaba co-founder Joe Tsai was finalized in 2019 for $2.35 billion, per the Associated Press.
Allen Media owns and operates local TV stations in 27 markets, along with an additional 12 networks, such as The Weather Channel. In a 2020 profile, Allen told THR that he would “love to own CNN” and believed it would happen one day.
Bloomberg was first to report on Allen’s intentions with the Broncos.
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