Broncos Grant Financial Data Access to Prospective Team Bidders
The Denver Broncos data room is officially open.
Billionaires interested in buying the NFL club are now getting a peek at the financials, according to someone familiar with the process. Groups are being granted preliminary access to the information, known in the industry as the “data room,” which allows them to begin their due diligence.
More from Sportico.com
Sporticast: Chelsea Sale Shows Economic Differences Between NFL, EPL
Chelsea Frenzy Tests Billion-Dollar Auction Block Against NFL's Broncos
It’s a logical next step in the much anticipated sale of the Broncos, who Sportico recently valued at $3.8 billion. Anything above $3.3 billion would be a record price paid for a sports franchise.
A representative for the team didn’t immediately respond to a request for comment. Allen & Co., which is handling the sale, declined to comment.
The NFL is already accepting applications that include proof of funds, which typically happens later in the process.
The Broncos are drawing interest from an array of people across the business world, including existing team owners, according to people familiar with the process. Those mulling bids include Philadelphia 76ers and New Jersey Devils co-owner Josh Harris, as well as Todd Boehly, an investor in the Los Angeles Dodgers and Los Angeles Lakers.
Some of those people are also looking at a potential acquisition of European soccer giant Chelsea, which current owner Roman Abramovich has decided to sell in the wake of Russia’s invasion of Ukraine. That sale grew more complicated this week after the U.K. sanctioned Abramovich over his close ties to Russian president Vladimir Putin. Sportico valued Chelsea at $3.4 billion.
The Broncos are currently owned by the trust of late owner Pat Bowlen, which is selling the team after years of legal challenges and family in-fighting over the future of the club.
The NFL allows up to $1 billion in debt for a team acquisition and requires the lead owner to hold at least 30% of the team’s equity. Groups can have no more than 25 people.
Best of Sportico.com
