englewood, colo. — the denver broncos have entered a sale agreement with the walton-penner family ownership group, the sides announced tuesday night. the sale agreement is subject to review by the nfl’s finance committee and must be approved by a full vote of nfl owners. it is expected to take 60 to 90 days for the sale to be approved and the deal to be closed; no issues are expected, a source told espn’s adam schefter. “carrie, greg and i are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans. those bids had been due to the trustees of the pat bowlen trust by 5 p.m. et monday. the broncos have been one of the nfl’s most successful franchises in the super bowl era, with three super bowl wins in pat bowlen’s ownership tenure, and they now have an ownership group with some of the deepest pockets.
the most paid previously for a north american sports franchise was $2.475 billion in 2020 by steven cohen to purchase the new york mets. it is expected penner will have a prominent role in the day-to-day operations of the team, and ellis had expressed the importance, since the team was formally put up for sale feb. 1, that the new owner be “visible” in the community and understand the broncos’ place in denver, the state of colorado and the region. the agreement ends an eight-year odyssey since bowlen stepped away from the day-to-day operations of the team he had owned for 30 years in july 2014 due to the onset of alzheimer’s disease. broncos coach nathaniel hackett said monday he had met “a solid amount” of the potential bidders and added: “after talking to everybody, i think that they all have an amazing passion and want to be a part of this league and they want to be a part of a team. they want to come to win, and they want to do something great here. the sale agreement with the walton-penner group also means walton and stan kroenke, walton’s cousin by marriage, will own five of the six major professional sports franchises in colorado.
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