“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, the CEO of Allen Media Group, told Bloomberg.
“And after serious consideration, I strongly believe I can help effectuate positive changes throughout the league.
“And for that reason, I will be making a bid for the Denver Broncos.”
Allen is leading a group of investors who are expected to submit a bid in the $3 billion – $4 billion range, according to Bloomberg.
The bid would easily surpass the most recent NFL team acquisition by David Tepper, who bought the Carolina Panthers for what was then a record $2.2 billion in 2018.
The national record for most ever paid by a businessman to own a professional sports franchise was set by Joseph Tsai, who purchased the Brooklyn Nets in 2017 for $2.3 billion.
The Allen-led team, which will include investors from business, Hollywood, sports, and Wall Street, has retained the services of Allen & Co., a boutique investment bank to handle the transaction. The bank isn’t related to Allen.