Denver Broncos has welcomed the first man to become the new owner

Rob Walton, Todd Boehley and other financial groups also set out to visit.

DENVER – Josh Harris got the ball first.

9NEWS has recruited the Philadelphia 76ers and New Jersey Devils owner Josh Harris was the first person to own a meeting with bank lawyers and businessmen and Denver Broncos executives. Some of the meetings, which took place on Thursday, may be far from the Broncos area, but Empower Field’s visit to Mile High and the club’s headquarters and theater was also on Harris’ tour.

“We had our first competition and invited about 10 businesses,” a Broncos family with the plan told 9NEWS. “We have reduced the number of units to five. We have joined the second phase.”

The second phase consists of exchanging and reviewing information, documents and giving advertisers the opportunity to ask questions of group managers, lawyers and banks.

“That second phase is happening with five parties,” the source said. “There are no ‘finishers.’ In the second phase, there are five parties. “

The marketing strategy has not yet asked for second-hand ads, according to the source.

“Only when we find a second business will we be known as the winner or finalist,” the source said.

With the Harris team visiting the Dove Valley team headquarters on Thursday, four more aspiring owners – including former Walmart chairman Rob Walton and current Walmart chairman Greg Penner, and possibly Los Angeles owner Todd Boehly, Dodgers and Lakers – redesigned. to visit the Broncos in the next week or two.

The Denver Gazette reports that there are only two groups left – Harris and Walton. Once again, a family from Broncos with a marketing plan said there were five teams competing.

Joe Ellis, chief executive and president of the Broncos, as well as one of three trustees owned by Pat Bowlen, announced Feb. 1 that the group is for sale. Steven Greenberg of Allen & Company, and Joe Lecesse of Prokhauer Rose LLP were hired to deal with the change of ownership.

Broncos are being traded through the market because trust-based marketing has a legitimate responsibility for the beneficiaries – in this case Pat Patlen’s seven children – to earn the highest price. The Broncos were valued at $ 3.75 billion by Forbes by the end of 2021, but sales value is expected to exceed $ 4 billion and could be close to $ 5 billion.

John Bowlen, Pat’s brother, owns 22 percent of the Broncos and seven of Bowlen’s children each own 11.14 percent of the group through their father. Pat Bowlen died in June 2019 following a long battle with Alzheimer’s.

Harris, 57, appears to have the upper hand – although his $ 7.6 billion, according to Bloomberg, is close to Walton’s $ 70 billion investment.

Harris built his fortune for the first time through Apollo Global Management, a publicly traded company that sells complex assets. Harris and Leon Black were founders of Apollo in 1990. In 2011, Harris, along with David Blitzer and founder of Michael Rubin, bought the NBA 76ers for $ 280 million. Two years later, he bought the NHL Devils plus the Prudential Center for $ 320 million.

NOTE: A closer look at Broncos ownership representative Josh Harris

They won 18% of the Crystal Palace Premier League team in 2015, and earned 5% in the Pittsburgh Steelers in 2020 – instead of the role David Tepper played until he bought the Carolina Panthers in 2018. Even with less than 5% ownership. , Harris would have been tested and approved by the NFL finance committee and a group of owners. Harris Games is under the umbrella of Harris Blitzer Sports & Entertainment (HBSE).

Harris have recently applied for a move to Chelsea in the Premier League, but Boehly, a minority owner at the Los Angeles Dodger and Lakers, has been linked with a move away from the club. Boehly is also ready to buy Broncos and sources tell 9News Boehly has enough money for a fat bag that was included in his team so he could have enough money to buy both franchises.

Two financial institutions in the Broncos are yet to be identified. Expert and consultant Byron Allen told 9NEWS in early February that he was incorporating the “Who’s Who” of the money sellers to take ownership. However, Allen signed a non-disclosure agreement and did not return messages to 9NEWS in recent weeks.

For almost 90 years, the NFL had strict rules to restrict their ownership – people with franchises in several games. But whether it was Stan Kroenke who opened the Box for Pandora (or was a pioneer) when he bought the NFL Rams to go along with his reign of NBA Denver Nuggets and NHL Colorado Avalanche, or the rise of the franchises greatly reduced the pool of potential. consumers, the NFL lifted the ownership ban in October 2018.

Harris and Boehly are examples of those with teams in several sports teams.

Harris is well supported. Rubin’s Fanatics has been recognized as one of the world’s largest sellers of US sports equipment. Fanatics also owns Candy Digital, which manages high-performance computer memory games or non-lock tokens (NFT). It has been reported that former Broncos quarterback Peyton Manning has made a lot of money at Candy Digital. However, a source close to Manning said it did not agree to another title and would not be available until the purchase was terminated.

Former Broncos player John Elway is also looking forward to joining the winning team and is working as a striker.

Sportico also announced Thursday that Earvin “Magic” Johnson has joined the Harris team. Which is pretty surprising because Johnson is a minority Investor in a Dodgers-owned consortium where Boehly is second to Investor to Mark Walter. Johnson said he invested $ 50 million in the Dodgers, which would be 2.3% of the $ 2.15 billion purchase in 2012.

While Johnson’s finances may be cheaper than cash, his association with the Harris team could be a major sign that the NFL is considering Harris’s strong position. The NFL has made it very clear and secretly it wants a few representatives and the Broncos team.

Harris grew up in Chevy Chase, Md. and is a student at the University of Pennsylvania, especially his Wharton School. Harris later received his MBA from Harvard Business School and soon joined Black to help him make Apollo.

Harris and his wife Marjorie and their five children are said to have moved from New York City to Miami during the 2020 epidemic.

TIP: Joe Ellis Explains Time To Sell Broncos

In 2019, Josh and Marjorie donated $ 10 million to Penn’s Wharton School to set up another fundraising program. Marjorie Harris is also the chair of the Sixers Youth Foundation, which creates a variety of opportunities for Philadelphia youth. Harris Philanthropies, started by Josh and Marjorie, is a charitable foundation that helps young people in high-risk areas through sports and education.

Although Walton has claimed that $ 70 billion seems to make him a big fan of winning the Broncos, Harris and his teammates as well as the Boehly team have a solid track record in winning the game business. Harris and Boehly groups – and again, there are at least two other unidentified groups that are included in the upper part of the process – are strong enough to create competitive advertising. He is the first billionaire Harris.

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NOTE: NFL: The Broncos will play the Jaguars in London this autumn

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