The Edgar Kaiser right of first refusal for any…
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When a trial-court judge found in January that Edgar Kaiser’s estate no longer holds a right of first refusal as to any sale of the Broncos, most assumed that Pat Bowlen’s estate could sell the team without any encumbrance. That wasn’t technically accurate. Kaiser’s estate had appeal rights.
Via Mike Klis of 9News.com, a settlement of those appeasements rights has been reached between the Kaiser and Bowlen estates. This allows the Broncos to be sold without any possibility of Kaiser’s estate interfering.
“The sale of the Broncos can now proceed free and clear without interruption,’’ attorney Dan Reilly told Klis.
Walmart heir S. Robson Walton is regarded as the favorite to secure the franchise, given that he has $70 billion and can put in a better offer than anyone else. With a trust selling the team for the benefit of Bowlen’s heirs, the objective will be to get the most possible money for the team.
That amount is expected to land somewhere between $4 billion and $5 billion.
The Edgar Kaiser right of first refusal for any Broncos sale officially has ended
