Could Jay-Z Become First Black NFL Owner? 2 min read
It appears that Jay-Z is looking to get back into the sports world as a team owner as he may have to battle one of his friends who happens to be the richest man in the world currently.
According to Front Office Sports, the Hip-Hop billionaire may become a potential buyer of an NFL (National Football League) team, the Denver Broncos. The man who purchased the franchise back in 1984, Pat Bowlen, had passed away in June 2019. As the former part-owner of the NBA (National Basketball Association), Jay-Z will no doubt have to compete with other suitors of the team. One such suitor has already been identified as the founder of Amazon, Jeff Bezos.
With the sports league generating the type of money it does worldwide, the team may garner a sale up to as high as $4 billion.
The Denver Broncos may hit the market in 2022 after what the team says will be an “orderly determination of ownership” which could include selling the team if the family doesn’t hold on to the franchise.
Denver Broncos President and CEO Joe Ellis had released a written statement earlier this summer in July:
“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.
Pat Bowlen, had purchased the Broncos for $78 million in 1984, and now, reportedly, there is uncertainty among some of his seven daughters, which included a lawsuit brought by two of them that was dismissed back in July.