Media mogul Byron Allen is preparing a bid for the Denver Broncos, a move that, if successful, would make him the first majority black owner of a National Football League team.
“NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft came to me in November 2019 and asked me to carefully consider buying an NFL team,” said Allen, president and CEO of Allen Media Group, in a statement. in response to inquiries about his interest in the Broncos.
“And after careful consideration, I firmly believe that I can effect positive change across the league,” Allen said in a statement. “And for that reason, I will make an offer for the Denver Broncos.”
A representative for the NFL did not immediately respond to a request for comment.
Allen, 60, is a Detroit native who rose to prominence as a comedian appearing on NBC’s Tonight Show with Johnny Carson. He then became a television producer and later founded Allen Media, which includes the Weather Channel and over 15 local network stations. Allen had recently made a bid for regional television operator Tegna Inc., but acquisition talks are still ongoing.
The Broncos didn’t officially announce the losing franchise was on sale in early February.
Denver Mayor Michael Hancock said a quick sale of the team by the Bowlen family would be best for everyone. “Resolving the ownership situation is critical to bringing the organization’s focus back to where it needs to be, which is fielding a high-performing, competitive football team that the entire Broncos nation can continue to be proud of.” , Hancock said in a statement.
Allen has a reported net worth of $450 million, according to celebritynetworth.com. In order to be a majority owner, he would have to assume a 30% stake in the franchise, per NFL bylaws.
The Carolina Panthers sold for an NFL record $2.275 billion in the summer of 2018. The Broncos’ final price could be as high as $4 billion.
A sports industry source believes administrators are required to accept the most qualified bidder.
The Denver Post contributed to this report.
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