John Elway had an amazing NFL career. He threw for more than 50k yards, and even 300 touchdown passes and was on nine Pro Bowl teams. Elway was a king of the sunset, too; his last two seasons concluded with Super Bowl championships. Elway was set to retire as an Denver Broncos Legend. This was the only team he had ever played for. However, Pat Bowlen, Broncos owner was approached by Elway and offered him a deal. To make the deal more appealing, Bowlen offered Elway the opportunity to sell his share of the team at a price of $5 million, plus his purchase price after five years. Elway also had the option to initially refuse to buy any additional shares in the team if Bowlen's family were to sell. Bowlen family had to sell. Elway had already sold his John Elway Autos car dealer to AutoNation for $82.5million one year prior. Elway was paid an annual licensing fee for the next 10 years. Thus, he was flush.Unfortunately Pat Bowlen was diagnosed with the disease in 2014. He passed away in June of this year. The last couple of years the team was managed by an entity known as the "Bowlen Trust" that is overseen by the seven children of Pat's.
Thursday, December 22, 2022
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