DENVER (CBS4) – A Denver judge ruled Tuesday that the Denver Broncos can be sold. A holdings group was petitioning the court that they had the right of first refusal to any possible sale.
(Photo by RJ Sangosti/MediaNews Group/The Denver Post via Getty Images)
Sources tell CBS4 that Denver County Judge Shelly Gilman ruled “the right of first refusal… between Edgar F. Kaiser Jr. and Patrick D. Bowlen… is no longer valid or enforceable in any respect.”
The ruling clears the way for Broncos President/CEO Joe Ellis to lead the process of a team sale without interference from the Kaiser group, ROFR Holdings.
The Broncos are expected to sell for as much as $4 billion, which would set a record for sale price for an American professional sports team. The current record is $2.275 billion, set when hedge fund manager David Tepper bought the Carolina Panthers in 2018
Article provided MSN.COM