The amount of money spent on the Denver Broncos will likely be a record for a bit, but the way things are going, another big sports team buy will exceed $4.65 billion.
“$4.65 is a big number, but it is justified, absolutely,” noted Kurt Badenhausen, a reporter for Sportico. “This is the first time we’ve seen a top 20 franchise in the world’s richest sports league go on the market in more than a dozen years.”
“The NFL is still the king of the jungle when you talk about TV, and they just signed $113 billion worth of new deals they’ve got coming in,” said Badenhausen about a TV deal that. That is the big driver, but in addition to a favorable collective bargaining agreement approved in 2020. “It’s something you do have to look at right away if you’re a new owner for sure. It will be very interesting,” said Broncos President and CEO Joe Ellis at a springtime owners gathering in Florida. “But I think from the big picture business perspective, that will be issue number one on the next owner’s plate.”
“If you’re going to build a whole new city or mixed use development and then that’s a totally different equation. You’re talking about generating revenue significant revenue outside of the team that becomes a real estate project,” said Badenhausen.