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Media mogul Byron Allen wanted to buy the Denver Broncos. It didn’t work. He thinks it will eventually.
Allen recently told TMZ.com that he believes he’ll buy the next team that is for sale.
“When you lose to the richest family in the world, it’s not a bad day in the office,” Allen said, referring to the Wal-Mart Walton-Penner group that plunked down $4.65 billion for the Broncos.
“Listen,” Allen added. “Buying an NFL football team is a process and we had the pleasure of being a part of that process. We didn’t get this one, but I’m highly confident we’ll get the next one.”
There’s nothing wrong with confidence and optimism. But Allen’s group wasn’t even among the finalists for the Broncos. Also, and as PFT has reported, Josh Harris would have made a $5 billion bid for the Broncos if that would have closed the deal. When he failed to get an assurance that, for example, the Walton-Penners wouldn’t have simply gone to $5 billion and one penny, Harris bowed out.
When the next team is for sale (possibly the Seahawks, after May 1, 2024), Harris will possibly be willing to make the same $5 billion bid. Unless there’s someone else who would pay $5 billion and one penny.
To get a team, Allen will have to be in that ballpark, with 30 percent of the cash coming from his own pocket — unless the league is willing to relax the rules in order to ensure that there will be an ownership group with a controlling owner who is Black.