JAY-Z Could Become 1st Black NFL Owner Amid $4B Denver Broncos Links:
JAY-Z is among names linked to a takeover of the NFL’s Denver Broncos, according to Front Office Sports.
With the team expected to be worth $4 billion, Hov would need partners to purchase the Broncos and make history as the first Black owner of an NFL team. JAY-Z’s net worth was estimated at around $1.4 billion in March after the sale of champagne brand Armand de Brignac, having owned 50% of the company that was acquired for $650 million.
Another potential owner is Amazon founder Jeff Bezos, who is the world’s richest man. Bezos previously held talks for a 40% stake in the Washington Football Team in February and is reportedly still interested in NFL ownership.
Pat Bowlen purchased the Broncos for $78 million in 1984 and died in June 2019, with a potential sale by his daughters setting up the biggest franchise sale in U.S. sports history.
In July, Denver Broncos president and CEO Joe Ellis outlined plans to undergo a transition of ownership before the start of the 2022 NFL slate.
“Our goal is a timely, responsible and orderly determination of ownership,” Ellis said. “What that will entail for us — there’s some things that we still need to work through — but our goal is to be able to lay out, when the season is over — and [Head Coach] Vic [Fangio] has promised that will be in the middle of February — that we lay out for everybody a timeline to a transition of ownership that will take place next year prior to the start of the season. That’s important. It’s important to the organization. It’s important to the beneficiaries — Pat [Bowlen]’s children — to get it resolved and we’re moving forward on that.
He added, “The team is not for sale. There are a few options out there as to what we can do. You’re probably aware of those. We’re going to get through this season. Our goal is to focus on that, have a good year and hopefully be competitive and be around for the postseason tournament once that begins. That’s where our focus is. Until the season’s over, you’re not going to hear a whole lot about the future of ownership of the team.”
Despite his “not for sale” claims, he admitted the sale of the team is possible, as well as having Denver Broncos senior vice president of strategy, Brittany Bowlen, serving as controlling owner.
“Well, the sale of the team is always possible, obviously,” Ellis said. “That’s one [option]. If it’s going to stay in the family, Brittany is really the other option. There are certain … conditions that will go with that. They could come in various forms. There might be one or two other options within that option, if that makes sense.”
JAY-Z has previous NFL ties after Roc Nation struck a long-term partnership as official live music entertainment strategists in August 2019.