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The fifth group bidding for the Denver Broncos has been revealed. According to Mike Klis of 9news, Mat Ishbia and Justin Ishbia are part of the group attempting to buy the franchise. The Ishbia brothers have already met with Broncos executives per Klis.
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Mat Ishbia Is a Former NCAA Basketball National Champion
Mat Ishbia has some experience in sports. He was a member of Michigan State’s 2000 championship basketball team. He played a small role on that team logging 40 total minutes for the season. He did play one minute in the championship game.
Ishbia would go on to play two more seasons under Tom Izzo, and he even started one game during the 2001-02 season.
After college, Ishbia began working at United Wholesale Mortgage, which was founded by his father Jeff Ishbia in 1986. In 2013, Mat Ishbia took over as the CEO.
The company went public on The New York Stock Exchange in January 2021. At the time, it was the largest-ever listing through a special-purpose-acquisition company.
According to Forbes, Ishbia owns a 71% stake in United Wholesale Mortgage, while his brother Justin holds a 22% percent stake. Justin Ishbia is also a founding partner of Shore Capital Partners, a private equity firm.
They have a combined net worth of $6 billion.
With that level of wealth, the Ishbia brothers are serious contenders to lead a group to buy the team.
Four other potential ownership groups have already been revealed with Rob Walton, Josh Harris, Toddy Boehly, and Byron Allen all leading separate groups.
Magic Johnson Is Part of Josh Harris’s Group
Speaking of ex-basketball players, Sportico reported on May 5 that Josh Harris’s group includes NBA legend Earvin “Magic” Johnson.
The former NBA star has joined the bid group being led by Philadelphia 76ers co-owner Josh Harris, according to the person, who was granted anonymity because the details are private. Adding a high-profile African American investor, one of Johnson’s stature no less, could help make the group more attractive as bidding intensifies in the coming weeks and months.
Johnson has experience as a team owner, as he currently owns a stake in the Los Angeles Dodgers.
Johnson joins Peyton Manning and John Elway as sports figures who are interested in bidding for the Broncos.
Jason La Canfora of CBS Sports previously reported that Manning had discussions with several potential ownership groups.
“Sources said former Broncos star quarterback Peyton Manning, who is very interested in a potential ownership piece in the franchise and a possible role in serving in a management position as well, has already had discussions with several of the groups expected to be favorites to land the team.”
In January, Elway express his interest in an interview with Mike Klis of 9news.
“Who knows where that is and where that falls, but I do have interest in being a part of it. The Broncos have been in my life for 40 years, so I’d love to be a part of it.”
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Former NCAA Basketball National Champion Emerges as Bidder for Broncos: Report