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Ex Broncos Owner Wants / Can’t Buy Back Team

October 4, 2008

Former Denver Broncos owner Edgar Kaiser Jr. lost his latest bid to force current owner Pat Bowlen to sell him part of the team. The Colorado Court of Appeals Thursday refused to revive Kaiser’s state case that was tossed out last year.

Kaiser, who sold his 60.8 percent share of the team to Bowlen in 1984, lost his case in federal court in 2006. The case involved an offer to sell part of the team to Hall of Fame quarterback John Elway. Kaiser argued that there was a “buy-back” clause if Bowlen tried to sell the team or a partnership holding majority interest in the team to anybody else. The case in state court involved Bowlen’s acquisition of an additional interest of the team through a stock deal involving family members.

Don’t worry guys, Bowlen is not trying to sell the team. He just wanted to possibly have John Elway own a part of it. This gives Kaiser the chance to get the team back into his hands partially.

According to CBC2Chicago “A U.S. District Court jury in 2004 ruled in favor of Kaiser, saying Bowlen violated the contract by offering 10 percent of shares in a company that held ownership of the team to Elway for $15 million. That verdict was overturned by the 10th U.S. Circuit Court of Appeals in August 2006.” 

“This was anti-climatic,” said Bowlen attorney Dan Reilly. “The heart of the case was decided in the federal case. This was an attempt to resurrect a dead case that the court of appeals rejected.”

Now that it is over and Bowlen can not sell any of the team to John Elway, Kaiser still wants it back and is using it as a way to get back the team. What interests me is if you look at the time line, he wanted it back the first time before the Broncos nearly won the AFC Championship. Now that the Broncos are good again he of course wants to have them.

Bowlen also offered Elway a piece after he retired but Bowlen’s 1998 offer was declined by Elway, who at the time said he wanted a more active role in managing the team than what he was offered. He would try again in 2004 which was as well declined. 

Kaiser was as you might guess denied once again yesterday and Bowlen still has full control of the Broncos.

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2 Comments
  1. October 4, 2008 9:00 AM

    Wow-had not heard that, this is a big deal…. I think that would be kinda cool if Elway owned part of the Broncos
    nice work Garrett

  2. October 4, 2008 9:07 AM

    I know it is interesting how it has not gotten much coverage. It would be cool if Elway had a say in the ownership of the team.

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