Former Denver Broncos owner Pat Bowlen passed away in 2019. That led to an intrafamily squabble among Bowlen's relatives as to who should become the new owner of the team. As that was playing out, a surprise lawsuit showed up in Denver courts last year.
A lawyer representing ROFR Holding, Ltd. claimed his client had any and all Rights of First Refusal. The firm was claiming that a notice of the intended sale of the 60.8% of the team ownership was required by law. That put the sale of the Broncos on hold, as this new litigation was pending. On Tuesday, that lawsuit was tossed by out by Denver Judge Gilman and listed four orders.
Judge Gilman order: 1. The right of first refusal Agreement between Edgar F. Kaiser, Jr. and Patrick D. Bowlen "has terminated in its entirety."
2. The right of first refusal is no longer valid or enforceable in any respect. (more) #9sports— Mike Klis (@mikeklis) January 11, 2022
He listed that “the Right of First Refusal agreement between Edgar F. Kaiser, Jr and Patrick D. Bowlen (in 1984) has terminated in its entirety. The Right of First Refusal is no longer valid or enforceable in any respect. None of the Defendants (Kaiser estate, ROFR Holdings) are entitled to notice of any intended sale of the 60.8% Partnership Interest in PDB Sports, Ltd. or of the Broncos franchise. Plaintiffs (Bowlen Trust) do not have any obligations under the right of first refusal, specifically there is no obligation to provide notice of any intended sale of the 60.8% Partnership Interest in PDB Sports, Ltd. or of the Broncos franchise.”
This officially opens the door for the sale of the Broncos to proceed. Joe Ellis and the Trust can move forward with the transfer of ownership, according to Broncos reporter Zac Stevens.
The Broncos can be sold without any issues.
Now Joe Ellis and the Trust can move forward with a transfer of ownership.
Huge news for the future of the team. https://t.co/JfpDizR8aq
— Zac Stevens (@ZacStevensDNVR) January 11, 2022
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