Media Mogul Byron Allen announces plan to bid for NFL’s Denver Broncos

Bloomberg News reported yesterday (2/8), that media tycoon Byron Allen is making a bid to buy the Denver Broncos from the Bowlen Family Trust, if the sale goes through, Allen would become the first Black majority owner of an NFL team.  Allen reportedly in a statement told the business network that he was encouraged to consider NFL franchise ownership by a pair of prominent league power players.

“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’s statement reads. “And after serious consideration, I strongly believe I can effectuate positive changes throughout the league. And for that reason, I will be making a bid for the Denver Broncos.”

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Detroit native Allen started his career as a standup comedian before hosting the long-running interview show “Kickin’ it with Byron Allen” starting in 1992.  He founded Entertainment Studios in 1993 and has overseen its growth into a powerful media conglomerate.

The company’s portfolio includes a stake in regional sports networks formerly owned by Disney and ownership of The Weather Channel, which it purchased in 2018.

Forbes placed the value of the Broncos franchise at $3.75 Billion, though it is expected to sell for more than $4 Billion, said to be a record price for a U.S. sports team.   While it’s difficult to pinpoint Allen’s exact net worth is hard to determine, but is said to be somewhere just under $500 Million.

The Broncos announced the franchise was for sale on Feb. 1, a long expected announcement since the death of former owner Pat Bowlen. The late long-time owner of the franchise left control to a trust just prior to his death.  The trust hopes to find new ownership prior to the start of next season.

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