*Media mogul Byron Allen is in the running to become the NFL’s first Black owner.
Allen, chairman and chief executive officer at Allen Media Group, is reportedly a contender to purchase the Denver Broncos, Bloomberg reports.
As reported by BET.com, since the passing of former owner Pat Bowlen in 2019, the Broncos have been managed by the Pat Bowlen Trust: team CEO Joe Ellis, Vice President and General Counsel Rich Slivka and lawyer Mary Kelly.
“NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft came to me in November of 2019 and asked me to take a good look at buying an NFL team,” Allen said in a statement. “And after serious consideration, I strongly believe I can help effectuate positive changes throughout the league,” Allen said in a statement. “And for that reason, I will be making a bid for the Denver Broncos.”
READ MORE: GM to Spend More Ad Dollars with Black Media After Byron Allen Calls Out CEO
The asking price for the Broncos could be as high as $4 billion. Mike Ozanian of Forbes noted that the NFL requires no more than $1 billion in debt for someone purchasing controlling interest in a franchise. A controlling interest is 30%.
“Settling the ownership situation is critical to getting the organization’s attention focused back to where it needs to be, which is fielding a successful and competitive football team that all of Broncos Country can continue to be proud of,” Denver Mayor Michael Hancock said in a statement.
Allen’s possible history-making purchase comes as Pittsburgh Steelers Mike Tomlin remains the only Black head coach in the NFL after the firings of Miami Dolphins head coach Brian Flores and Houston Texans head coach David Culley.
“Diverse hiring still needs a lot of work,” NFL.com stated in January 2021. “The NFL spent much of the last year trying to figure out how to improve the chances for minority coaches and personnel executives to ascend to the big jobs.”
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