John Elway helped bring Peyton Manning into the Denver Broncos organization back in 2012. Ten years later, the two Hall of Fame quarterbacks reportedly will be competing against one another to buy the team.
Woody Paige reported on Tuesday that six different groups will bid for the franchise after the team cleared its final legal hurdle for an ownership switch.
Denver County District Court Judge Shelley I. Gilman ruled on Tuesday that a right of first refusal agreement between late owners Pat Bowlen and Edgar Kaiser was “no longer valid.” The ruling clears the path for the sale of the team to an outside buyer, and among the potential outside buyers are two franchise icons.
Elway was hired by the Broncos 11 years ago to lead the team’s football operations. Of course, he was also a legendary quarterback in Denver and helped lead the organization to its first two Super Bowls titles.
One of his biggest front office moves came in his second offseason, when he lured in Manning from the Indianapolis Colts. Manning spent four years as the team’s starting quarterback, winning league MVP in his second season in Denver and ending his pro career with a Super Bowl 50 victory in his final game. These days, Manning is in the spotlight alongside his brother, Eli, as part of ESPN’s “Manningcast.”
Forbes values the Broncos at $3.75 billion (as of August 2021), but the team is expected to draw bids of more than $4 billion. The most recent sale of an NFL franchise came in 2018 with the Carolina Panthers, who were sold to David Tepper for $2.275 billion.