Byron Allen Works On Becoming The NFL’s First Black Owner....

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[SIZE=7]Byron Allen On Track To Becoming The NFL’s First Black Owner[/SIZE]

The multimillion-dollar entrepreneur will place a bid for the Denver Broncos.

Black History Month is upon us and Byron Allen is looking to add to the history, as he’s in the running to become the NFL’s first Black owner.

According to [I]Bloomberg[/I], Allen was approached by NFL commissioner Roger Godell and CEO of the New England Patriots, Robert Craft in 2019. It was officially announced at the beginning of February.

NFL Hall of Famers John Elway and Peyton Manning are reportedly also in the bidding hunt.

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Allen is the current chairman and chief executive officer at Allen Media Group and a former comedian and television host.
“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.”

A source for the publication says Allen, 60, and the Broncos are working with bankers and the team has decided to allow Allen & Co., an investment bank to handle the transaction. Allen and the investment group could pay $3 billion to $4 billion for team ownership.

Many virtual meetings between Allen, the NFL, Kraft, and the Broncos organization have been held since the initial 2019 consideration, according to the unidentified source.

Previously, Black American investor [B]Robert F. Smith[/B] was a potential bidder, but has reportedly paused his consideration.

The ownership of the team has been in limbo since the passing of former owner Pat Bowlen in 2019. Since his passing, 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.
“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.

In the midst of the NFL’s continuous bout to handle controversies surrounding race and social injustice, Allen’s potential, successful ownership of the Broncos could be a spin in the right direction.

https://www.bet.com/article/uteb11/yron-allen-denver-broncos-bid-first-black-nfl-owner?fbclid=IwAR1m9Oa_8hP-q-BmWdGRykUAbP-iKClNOCPCNtCWK28qoQErUA6iC8BH6kI

Bio:

Byron Allen Folks is an American businessman, comedian, television producer, philanthropist, and the head of the U.S. entertainment company Entertainment Studios.

Born: April 22, 1961 (age 60 years), Detroit, MI
Spouse: Jennifer Lucas (m. 2007)
Parents: Carolyn Folks
Children: Olivia Rose Allen, Chloe Ava Allen, Lucas Byron Allen
Education: Fairfax High School, [I]University of Southern California[/I]

Byron Allen’s net worth is calculated at $450 million

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His networth is iffy though. $450m for a
$4b team. It means he won’t be a owner. But a minority shareholder.

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Ata mimi kama birrionea nitanunua NFL team then let it be run people who love the game with all their heart.

People who are restrained by bureaucracy and politics.

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He will need to put together some other heavy financial hitters to pull it through.

More options:

The National Football League is frantically appealing to Robert F. Smith, the nation’s richest black man, to buy the Denver Broncos — but thus far he has shown a reluctance to bid, sources told The Post.
Smith — a New York-based private-equity tycoon who famously spent $34 million in 2019 to pay off the student loans of the entire graduating class of Morehouse College — is a Denver native, and would become the first black owner of an NFL team if he purchased the Broncos.
NFL Commissioner Roger Goodell is pulling out all the stops to woo Smith, even as the team is rumored to have gained interest from Amazon founder Jeff Bezos, as well as quarterback legends Peyton Manning and John Elway, sources said. That’s because Goodell is scrambling to repair the league’s banged-up image when it comes to race relations.

https://nypost.com/wp-content/uploads/sites/2/2022/02/nfl-pressures-robert-smith-to-buy-broncos.jpg?quality=90&strip=all&w=1024NFL Commissioner Roger Goodell (left) is pulling out all the stops to woo billionaire Robert F. Smith into buying the Denver Broncos. Icon Sportswire via Getty Images

“Goodell is putting tremendous pressure on him to bid,” a source close to the situation said of Smith.
Last week, ex-Miami Dolphins Coach Brian Flores filed a lawsuit against the NFL that compared the league to a “plantation,” where 70 percent of the players are black and none of the owners are.

Nevertheless, 59-year-old Smith, who has an estimated net worth of $6.7 billion, according to Forbes, is in the middle of raising a $20 billion-plus fund for his Austin, Texas-based buyout firm, Vista Equity Partners. He doesn’t want to be saddled with hunting for a new starting quarterback, two sources said.
“Smith grew up as a Broncos fan and might want to buy a team, but not now while he is raising a fund,” one source close to the situation said.
“I think it’s 50/50 whether he bids for the team,” a well-placed banking source told The Post. “The NFL desperately wants Smith to bid. Right now, he doesn’t want to. If Smith bids, he wins.”

https://nypost.com/wp-content/uploads/sites/2/2022/02/nfl-pressures-robert-smith-to-buy-broncos7.jpg?quality=90&strip=all&w=1024Ex-Miami Dolphins Coach Brian Flores filed a lawsuit against the NFL that compared the league to a “plantation,” where 70 percent of the players are black and none of the owners are.TNS via Getty Images

Smith didn’t respond to requests for comment. For its part, the NFL told The Post: “There is tremendous interest in owning NFL franchises, including the Denver Broncos, which are now up for sale. Numerous parties have expressed interest and that includes multiple minority executives.”
Reports that Smith — who is also the chairman of Carnegie Hall — was a possible bidder for the Broncos first surfaced late last month. Smith didn’t comment at the time, but a source close to the billionaire sought to throw cold water on the speculation.
“Robert’s priorities right now are on the fight for voting rights and economic justice rather than being … an owner of a team,’’ a source said in a statement quoted by multiple outlets. “He continues to be most focused on how he can best help underserved communities gain access to capital, healthcare, education, and the ballot box. Pursuing ownership of the Broncos is not on his radar right now.”

https://nypost.com/2022/02/10/nfl-begging-robert-f-smith-uss-richest-black-man-to-buy-the-denver-broncos/?fbclid=IwAR3D3DOlqND7MFhJ1Qlm1_QpuXEAbqQYatSIftdFuNPJzf6HV0Bmq3Bger0