Getty Denver Broncos Empower Field at Mile High
A frontrunner has emerged in the sale of the Denver Broncos. According to Pro Football Talk’s Mike Florio, the Broncos are “Rob Walton’s to lose”.
“A league source with knowledge of the dynamics tells PFT that the franchise is WalMart heir Rob Walton’s to lose,” Florio wrote.
It is no surprise that Walton is considered the frontrunner given his $59.1 billion net worth.
However, it is far from a done deal. Florio also reported that other bidders have the ability to pay more than $5 billion.
“As the source put it, there are other credible bidders at the table. They have the ability to pay more than $5 billion — if they choose to. The real question is whether Walton will have competition that will inevitably force him to go above $5 billion, and whether that competition will finally drive up the price to the point where Walton bows out.”
Sports Business Journal’s Ben Fischer also reported that multiple bids of $4.5 billion or higher are expected.
Multiple bids of $4.5B or higher are expected on Monday in the Broncos sale, source tells me.
Depending on how much space there is between bids, things could move quickly from there.
On paper, Walton has the ability outbid any of the other finalists for the team, but at what point would Walton back out? Can the other bidders drive the price to a point that Walton would consider too excessive?
Remember, the previous record for the largest sale of a NFL team was only $2.275 billion, which was set when David Tepper bought the Carolina Panthers in 2018. The Broncos’ sale is now expected to double that figure.
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Jose Feliciano’s Group Is One to Watch
According to Florio, the group led by Jose Feliciano is one to monitor.
“One group to watch closely will be the faction led by Jose Feliciano. Todd Boehly, who just purchased the Chelsea soccer club for $4.5 billion is part of that effort,” Florio wrote.
Feliciano’s group includes Behdad Eghbali, Todd Boehly, and Mark Walter.
Boehly has been linked to the Broncos for some time now. He has ownership stakes in the Los Angeles Dodgers, Los Angeles Lakers, and Los Angeles Sparks. Forbes estimates Boehly has a net worth of $4.5 billion.
Feliciano and Eghbali are the founders of Clearlake Capital, which currently manages over $72 billion in assets. Individually, Feliciano and Eghbali each have net worths of $3.4 billion per Forbes.
Walter is the CEO of Guggenheim Partners LLC, and he has a net worth of $3.9 billion per Forbes.
Both Clearlake Capital and Walter were involved in Boehly’s group that purchased the Chelsea soccer club.
Together, Feliciano, Eghbali, Boehly, and Walter have the resources to put together a very competitive offer. As a group, they have a chance to outbid Rob Walton.
Rob Walton Sells Aspen Land for $30.8 Million
Speaking of Rob Walton, he recently made a business transaction in Colorado.
He sold a 33,000 square foot parcel of undeveloped land in Aspen for $30.8 million, according to the Wall Street Journal. It marks one of the highest sales ever for undeveloped land in Aspen.
Walton purchased the land for $9.19 million in 2000.