The Denver Broncos are for sale, which brought a very interesting storyline into the headlines this week.
According to a report from sports financial analyst Darren Rovell, former Broncos quarterback John Elway had a chance to buy part of the team in the mid-1980’s. Rovell said Elway had a chance to buy 20-percent of the team for $36 million.
“At the $4.5 billion valuation, John Elway’s 20 percent stake that he could have gotten for $36 million would have been worth $900 million today, a 1,330 percent return, factoring for inflation,” Rovell reported. “He also gave up the rights of first refusal to buy the rest of the team.”
Fans simply can’t believe he would pass on that opportunity.
“He needs to fire his advisor,” one fan said.
“Not a Rovell fan, but if this is accurate, why on EARTH would anyone pass on purchasing a share of an NFL franchise?! Especially someone so intimately familiar with the NFL as Elway was at the time. Obviously Elway won’t ever be hurting for cash, but this one has to sting,” another fan said.
Elway isn’t hurting for money, but this will certainly go down as a bad business decision on his part.