PALM BEACH, Fla. — As the Broncos near the two-month mark of being for sale, president/CEO Joe Ellis remains confident the initial target of a new owner taking over by early September can be achieved.
“I really believe we can have a new owner in place by that time,” Ellis said Monday at the NFL’s Annual Meeting. “Don’t hold that to me as a guarantee, but I do think that’s a realistic timetable.”
Thirty-eight years after Pat Bowlen and his one sister and two brothers bought a majority interest in the Broncos for $78 million, the team is expected to easily eclipse the current U.S. sports franchise record sale price of $2.35 billion for the NBA’s Brooklyn Nets and the NFL record of $2.275 billion for the Carolina Panthers.
The Broncos’ sale could exceed $4 billion.
“No. 1, there has been a lot of thorough and excellent work done by our two firms (Allen & Co., and Proskauer Rose LLP) assisting us in the transaction,” Ellis said. “No. 2, there is really a significant amount of interest from a number of very qualified bidders in my opinion.”