Given the potential value for the workforce, the listing of authentic bidders dwindled to round a half dozen. Robert Smith, who grew up in Denver and is taken into account one of many wealthiest Black folks in the nation, was thought-about a contender however his bid by no means materialized.
Other bidders included Josh Harris, who already owns stakes in the N.B.A.’s Philadelphia 76ers and the N.H.L.’s Devils.
Some experiences have linked the previous Broncos quarterbacks John Elway and Peyton Manning to totally different bidders, however they might presumably maintain small monetary stakes. Under league guidelines, the brand new proprietor can solely borrow up to $1 billion to finance the acquisition, a limitation that eradicated many events.
That restriction is unlikely to restrict Rob Walton, Greg Penner and their households. Walton, 77, is the oldest baby of Helen and Sam Walton, the co-founder of Walmart. Rob Walton was chairman of Walmart from 1992 to 2015. His cousin is Ann Walton, the niece of Sam Walton and the spouse of E. Stanley Kroenke, who owns the Los Angeles Rams of the N.F.L., the Denver Nuggets of the N.B.A., the Colorado Avalanche of the N.H.L. and Arsenal F.C. in the Premier League, amongst different groups.
Penner married Rob Walton’s daughter, Carrie, and has been Walmart’s chairman since 2015.
The Walton-Penner bid, if permitted, would finish almost 4 many years of possession by the Bowlen household. The Broncos joined the A.F.L. in 1960 and had been dismal on the sphere for his or her first decade and a half, although they had been widespread with followers in the Rocky Mountain states. But after Bowlen purchased the membership in 1984, the Broncos had 21 successful seasons, 13 division titles, 9 convention championship berths and 7 Super Bowl appearances.
His reminiscence failing, Bowlen stepped away from operating the workforce in 2014, and left a number of trustees, together with Ellis, to oversee the franchise. The trustees had been tasked with deciding which of his kids ought to develop into the controlling proprietor — or whether or not the franchise must be offered, in the event that they believed that was in the household’s finest curiosity.