Getty Rob Walton speaks at shareholders meeting.
On April 18, a big update on the sale of the Denver Broncos was released.
According to Sportico, five potential buyers are expected to move to the next round of bidding for the team. All five bidders are set to meet with team management in early May, according to the report.
Rob Walton, Josh Harris, and Todd Boehly are reportedly the leaders of three potential ownership groups.
Walton is the biggest name in the running. Forbes estimates Walton has a net worth of $70 billion, which would make him the richest owner in the NFL.
Walton is the son of Sam Walton, who is the founder of Walmart. Rob Walton served as the chairman of Walmart from 1992 to 2015.
Harris has an estimated net worth of $5.6 billion per Forbes. Harris is a co-founder of Apollo Global Management, which is an investment firm that manages over $470 billion in assets.
Harris has been active in the sports world. Harris and David S. Blitzer own Harris Blitzer Sports & Entertainment.
Harris Blitzer Sports & Entertainment currently holds a majority stake in the New Jersey Devils and Philadelphia 76ers.
Boehly is the founder of Eldridge Industries. Eldridge’s investments include A24, Billboard, Epic Games, and Variety.
Like Harris, Boehly has experience as a sports team owner. Boehly owns a minority in the Los Angeles Dodgers and the Los Angeles Lakers.
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Who Are the Other 2 Bidders for the Broncos?
The leaders of the other two ownership groups have not been reported.
Alec Gores had previously been mentioned as a potential owner. On February 8, the Los Angeles Times reported that Gores was a candidate to buy the team.
Alec Gores, 69, whose Beverly Hills-based Gores Group buys and sells companies, is part of an investment group in which the three partners have a combined net worth of $10 billion, according to Forbes.
The group also includes Dean Metropoulos, 75, a Florida investment titan with whom Gores teamed to revive the iconic Hostess Brand, and Mat Ishbia, 42, chief executive of Michigan-based lender United Wholesale Mortgage, now called UWM Holdings.
Ye, formerly known as Kanye West, is another potential candidate. Donda Sports president Antonio Brown told TMZ Sports that he and Ye are “extremely serious” about purchasing the team.
Bloomberg estimates Ye is worth $6.6 billion.
Diversity Is a Priority for Roger Goodell
NFL ownership Roger Goodell told Ryan O’Halloran of The Denver Post that the league is encouraging diversity among bidders for the Broncos.
“We feel diversity in our ownership is important. I think the ownership made that clear in their statement yesterday. We’re encouraging any bidder to ensure they have a diverse group. Ultimately, it is their decision, but they how we feel.”
According to Sportico, all five ownership groups are expected to include minority investors.
All five Broncos groups are expected to have minority investors, a stated priority of NFL commissioner Roger Goodell. While that’s difficult to require in an estate sale—the trustees have a fiduciary obligation to sell to the highest qualified bidder—Goodell has spoken openly about the league’s belief that it can diversify it ranks while maximizing the value of the club.