Byron Allen plans to bid on Broncos

Byron Allen, the chairman and chief executive officer of Allen Media Group, is preparing to bid on the Denver Broncos.

"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," he said in a statement to Bloomberg's Kamaron Leach.

"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."

If successful, Allen will become the first Black principal owner in the NFL. He's expected to bid with a group of investors behind him.

The Broncos were put up for sale Feb. 1, almost three years after owner Pat Bowlen died. His family has held control of the team since his death, and the franchise is now worth an estimated $3.75 billion, according to Forbes' Mike Ozanian and Christina Settimi.

The Carolina Panthers are the most recent franchise to change ownership, with David Tepper purchasing the club from Jerry Richardson for $2.2 billion in 2018.