One Broncos decision may have cost John Elway $900 million

The impending buy of the Denver Broncos for a file of $4.65 billion in all probability stings a bit for John Elway.

Elway, the previous Broncos quarterback-turned-executive, was supplied the prospect to buy a stake within the staff in 1998, according to Action Network’s Darren Rovell. It would have earned him round $900 million with the sale in the present day — if he hadn’t turned it down.

The Super Bowl champ was nonetheless enjoying for the Broncos on the time when he was supplied a ten % piece of the staff by proprietor Pat Bowlen “for the money that they owed him ($21 million),” per Rovell. Bowlen additionally supplied Elway an extra 10 % of the Broncos for $15 million.

Elway didn’t take the deal, and together with it, the chance to probably make round $1 billion.

John Elway reportedly lost out on the opportunity to purchase a stake in the Denver Broncos
John Elway reportedly lost out on the chance to buy a stake within the Denver Broncos
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“At the $4.5 billion valuation, John Elway’s 20 percent stake that he could have gotten for $36 million would have been worth $900 million today,” Rovell famous in his report.

Elway, who performed for the Broncos for 16 seasons, made $45.4 million throughout his enjoying career, according to Spotrac. In 1997, he additionally offered 5 automobile dealerships for $82.5 million.

Meanwhile, Walmart inheritor Rob Walton — who’s main the Broncos buy with daughter Carrie Walton Penner and her husband, Greg — mentioned Wednesday he’s “thrilled” to be transferring ahead with this profitable subsequent chapter.

Had John Elway had taken the deal, the impending sale of the team would have resulted in a $900 million opportunity today
Had John Elway had taken the deal, the approaching sale of the staff would have resulted in a $900 million alternative in the present day
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“We are thrilled to be selected to move forward with the purchase of the Denver Broncos!” Walton mentioned in a press release Wednesday. “Carrie, Greg and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans. Having lived and worked in Colorado, we’ve always admired the Broncos. Our enthusiasm has only grown as we’ve learned more about the team, staff and Broncos Country over the last few months.”

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