Imminent Purchase of a Denver Bronco For a record $4.65 billion, it’s perhaps a bit impressive for John Elway.
Elway, a former Broncos player who was CEO, was offered the opportunity to buy a stake in the team in 1998, According to Darren Rovell of Business Network. He would have earned him about $900 million from the sale today – if he hadn’t turned him down.
The Super Bowl champion was still playing for the Broncos at the time owner Pat Bowlen offered him a 10 percent piece of the team “for the money they owe him ($21 million),” according to Rovell. Bowlen also offered Elway an additional 10 percent of the Broncos for $15 million.
Elway didn’t take the deal, and with it, a chance of making about $1 billion.
“At a valuation of $4.5 billion, John Elway’s 20 percent stake that he would have taken for $36 million would have been $900 million today,” Ruffel noted in his report.
Elway, who played for the Broncos for 16 seasons, made $45.4 million during his football career, According to Spotrac. In 1997, he also sold five auto dealerships for $82.5 million.
Meanwhile, Rob Walton, the Walmart heir — who is leading the Bronco purchase with daughter Carrie Walton Benner and her husband Greg — said he was “happy” Wednesday to move forward with this next lucrative chapter.
“We are delighted that you have been chosen to proceed with your purchase of the Denver Broncos!” Walton said in a statement Wednesday. “Carrie, Greg and I were inspired by the opportunity to lead this great organization in a vibrant community full of opportunity and passionate fans. Having lived and worked in Colorado, we have always been impressed by the Broncos. Our enthusiasm only increased after we learned more about the team, staff and Broncos Country over the few months past”.
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