[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.
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.
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