While the Denver Broncos sale will likely go through this year, with the franchise expected to be sold for over $4 billion, any outcome will be tender for one legendary quarterback.
John Elway, who wants to be a part of the ownership group, could have a very small part in one of the groups bidding for the Broncos, even with the field of candidates now down to five.
Sportsnaut reports that the candidates include Walmart heir Rob Walton — with $70.4 billion net worth involved in the bidding — which could push the final purchasing price to approach $5 billion.
But in 1998, Elway made a decision that will make the most favorable of outcomes in the current sale come with some regret.
While there’s a possibility the former Broncos QB could have a very small part in one of the groups bidding for Denver’s NFL team, ESPN previously reported that team owner Pat Bowlen offered Elway a 10% stake in the Broncos for $15 million.
The 1998 offer also stated that the Hall of Fame quarterback could receive an additional 10% of stake in the franchise if he agreed to forego his remaining $21 million salary from his contract as a player with the promise of a role in the front office — as a special assistant to Bowlen, which would eventually lead to a COO job.
Elway passed on the offer and said in 2004 that he didn’t take it because he “did not see a place for himself as an executive of the team.”
While we all wait to learn who will be the next owners of the Denver Broncos, it can’t be easy for Elway.
New PointsBet Sportsbook users can make their first bets risk-free up to $2,000. If the bet loses, PointsBet will refund you in site credit. New users can lock in this offer NOW by clicking this link.