Ric Tapia/Icon Sportswire via Getty Images
There is one NFL team currently for sale, and it is reportedly going to generate quite the selling price.
According to Mike Florio of Pro Football Talk, the Denver Broncos are expected to sell for more than $5 billion. That is an increase from previous expectations that the AFC West team would sell for approximately $4 billion.
In February, Ryan O’Halloran of the Denver Post reported the Broncos were “expected to easily break the current record sale price of $2.35 billion for a U.S. professional sports team set by the NBA’s Brooklyn Nets.”
The record price for an NFL franchise was $2.275 billion for the Carolina Panthers, but the increasing value of television deals and the availability of other revenue streams such as legalized gambling will surely contribute to Denver’s sale.
Mike Klis of 9News reported the team has narrowed the list of candidates to five investment groups.
Included in that list is Rob Walton, who was a longtime chairman of Walmart, and his associates, as well as a group that includes Philadelphia 76ers co-governor Josh Harris. Todd Boehly, who is an investor in the Los Angeles Dodgers and Lakers, is also one of the bidders.
The other two bidding groups prefer to remain anonymous.
The family of former Broncos owner Pat Bowlen, who died in 2019, will split the proceeds when the sale is finalized.
Florio reported the hope is for the process to be over before the start of the 2022 campaign.