The bidding war for majority ownership of the Denver Broncos is expected to feature plenty of billionaires and household names competing with one another. In order to get the NFL’s approval though, a stipulation must be met.
NFL owners are part of an exclusive club, both receiving the status of owning a professional football team and benefitting from the record-setting revenue the league enjoys. Because of everything it offers, bids for any future clubs that are put up for sale are expected to start at $4 billion.
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Because of the exclusivity and demand, the NFL is taking precautions with who it lets join the exclusive group. It’s led to the Broncos reportedly being informed of a stipulation that potential investors must meet to buy the franchise.
According to Daniel Kaplan of The Athletic, the NFL is requesting any proposals to buy the Broncos must be fully capitalized when they are submitted. As Kaplan explains, recent sales of teams led to bidders scrambling to solidify their financial bids. Under the league’s new stipulation, all of that would need to be taken care of before an official offer is submitted.
Regarding the specifics, Kaplan writes that any potential buyer will need approximately $2.5 billion in cash available immediately. As a result, it could have a significant impact on what group is able to successfully land Denver’s franchise. One thing is for certain, the winning bid will be the most anyone has ever paid for an American sports franchise.
The current expectation is everything will be finalized by October, with final approval needed from NFL owners. While the Broncos are the only team up for sale right now, that could change based on the results of NFL investigations into Washington Commanders owner Daniel Snyder and Miami Dolphins owner Stephen Ross. Both franchises would likely sell for even more than the Broncos, given their location.