A decision that became inevitable more than two years ago amidst sibling strife in the Bowlen family became reality Tuesday when the Broncos announced the team is up for sale.
Thirty-eight years after Pat Bowlen and his two brothers and one sister bought a majority interest in the team for $78 million, the Broncos are expected to easily break the current record sale price of $2.35 billion for a U.S. professional sports team set by the NBA’s Brooklyn Nets.
President/CEO Joe Ellis, one of three trustees designated by Bowlen to run the Broncos’ day-to-day operations 7 1/2 years ago, informed The Pat Bowlen Trust’s seven beneficiaries of the official decision during a conference call.