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Broncos deal reached; price $4.65B, per sources

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Broncos deal reached; price $4.65B, per sources


ENGLEWOOD, Colo. — The Denver Broncos have entered a sale settlement with the Walton-Penner household possession group, the perimeters introduced Tuesday night time.

The settlement is for $4.65 billion, sources advised ESPN, confirming a number of studies. That might be a report worth paid for a North American sports activities franchise.

The Walton-Penner group — headed by Walmart inheritor Rob Walton; his daughter, Carrie Walton Penner; and her husband, Greg Penner — can even embody Mellody Hobson, co-CEO of Ariel Investments in addition to chair of the board of the Starbucks Corp. and a director at JP Morgan Chase.

“Right this moment marks a big step on the trail to an thrilling new chapter in Broncos historical past,” Broncos CEO Joe Ellis stated in a press release.

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The sale settlement is now topic to overview by the NFL’s finance committee after which should be accepted by a full vote of NFL house owners. Twenty-four sure votes are wanted for the sale to be accepted.

It’s anticipated to take 60 to 90 days for the sale to be accepted and the deal to be closed; no points are anticipated, a supply advised ESPN’s Adam Schefter.

“We’re thrilled to be chosen to maneuver ahead with the acquisition of the Denver Broncos!” Walton stated in a press release. “Carrie, Greg and I are impressed by the chance to steward this nice group in a vibrant neighborhood stuffed with alternative and passionate followers. Having lived and labored in Colorado, we have at all times admired the Broncos. Our enthusiasm has solely grown as we have discovered extra concerning the staff, workers and Broncos Nation over the previous couple of months.”

The Walton-Penner group was, in line with a number of sources, one among 4 teams that had superior to the second spherical of bidding this week. These bids had been because of the trustees of the Pat Bowlen Belief by 5 p.m. ET Monday. Forbes has estimated Walton’s web price at $59 billion.

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The Broncos have been one of many NFL’s most profitable franchises within the Tremendous Bowl period, with three Tremendous Bowl wins in Pat Bowlen’s possession tenure, they usually now have an possession group with among the deepest pockets.

The Carolina Panthers had held the report for many paid for an NFL franchise when David Tepper bought the staff in 2018 for $2.3 billion. Essentially the most paid beforehand for a North American sports activities franchise was $2.475 billion in 2020 by Steven Cohen to buy the New York Mets.

A bunch led by Todd Boehly, who has pursuits within the Los Angeles Dodgers and Los Angeles Lakers amongst his huge portfolio, lately bought Chelsea within the English Premier League for greater than $5 billion.

Bowlen and his siblings initially paid $78 million in 1984 for controlling curiosity within the Broncos. Bowlen later additionally bought the shares held by his sister and two brothers. The staff had extra Tremendous Bowl appearances (seven) than shedding seasons in his tenure.

It’s anticipated Penner could have a outstanding function within the day-to-day operations of the staff, and Ellis had expressed the significance, for the reason that staff was formally put up on the market on Feb. 1, that the brand new proprietor be “seen” in the neighborhood and perceive the Broncos’ place in Denver, the state of Colorado and the area.

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The settlement ends an eight-year odyssey since Bowlen stepped away from the day-to-day operations of the staff he had owned for 30 years in July 2014 because of the onset of Alzheimer’s illness. Bowlen died in 2019.

Bowlen by no means formally declared a successor amongst his kids, and when he stepped away from the staff’s day-to-day operations, he had his curiosity within the staff (estimated to be about 78% on the time) positioned in a belief overseen by Ellis, Broncos counsel Wealthy Slivka and Denver legal professional Mary Kelly.

What adopted included a lawsuit between members of the family, harsh phrases and court docket dates that coincided with a present six-year streak of playoff misses on the sector. The staff’s Tremendous Bowl 50 win to shut out the 2015 season was the final postseason sport the Broncos performed.

The trustees and staff officers had met with all the potential bidders, who toured the staff’s services in addition to its house stadium in latest weeks.

Broncos coach Nathaniel Hackett stated Monday he had met “a stable quantity” of the potential bidders and added: “After speaking to everyone, I feel that all of them have an incredible ardour and need to be part of this league they usually need to be part of a staff. I feel that is one thing that is actually stunning. They need to come to win, they usually need to do one thing nice right here. Whoever it’s, I feel that we’ll be very grateful.”

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The sale settlement with the Walton-Penner group additionally means Walton and Stan Kroenke, Walton’s cousin by marriage, will personal 5 of the six main skilled sports activities franchises in Colorado. Kroenke owns the Denver Nuggets, Colorado Avalanche, Colorado Rapids and Colorado Mammoth lacrosse staff, along with a regional media firm within the state.



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Denver, CO

Video of Colorado Springs police shooting shows suspect hitting woman with gun

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Video of Colorado Springs police shooting shows suspect hitting woman with gun


The man shot by Colorado Springs police officers while fleeing on foot earlier this month struck a woman across the face with a gun in the city’s downtown area before pointing it at another man, security footage released Thursday shows.

Around 12:48 a.m. on Sunday, June 9, three officers with the Colorado Springs Police Department’s Downtown Area Response Team were patrolling on foot along South Nevada Avenue when they heard a disturbance up the street, according to a video briefing released Thursday by the department.

As one officer — identified by the Colorado Springs Police Department as Benjamin Hengel — moved toward the disturbance, he saw a woman fall to the ground and drew his stun gun, police department spokesperson Joe Frabbiele said in the video.

Another man chasing the suspect suddenly stopped and put his hands up, Frabbiele said. When Hengel went to move around the man, Hengel saw the suspect pointing a gun in his direction and drew his department-issued handgun.

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Security footage from a nearby building before the shooting shows the suspect — 21-year-old Al’Morion Germany — backing away from a woman while the two have what appears to be a verbal disagreement.

In the video, Germany points what appears to be a gun at the woman before striking her across the face with it, knocking her to the ground.

Germany turns to run and is quickly followed by three Colorado Springs police officers, including Hengel, security footage shows.

Footage from Hengel’s body camera shows officers yelling at Germany to drop the gun, following him down South Nevada Street and continuing the chase around the corner onto Pikes Peak Avenue when Germany ignored police commands to stop.

Frabbiele said Germany was running toward a parking lot the officers knew usually had a lot of foot traffic at that time of night.

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When Hengel turned the corner, he fired three shots at Germany, striking the man twice, body camera footage shows. The man continued to run after being shot and was taken into custody in the 100 block of East Pikes Peak Avenue.

Officers provided medical aid until paramedics arrived and Germany was taken to a hospital with non-life-threatening injuries, Frabbiele said.

Frabbiele said a loaded 10 mm Glock handgun was found near where Germany was shot, but did not confirm the gun belonged to Germany. The 21-year-old was arrested on suspicion of first-degree assault.

The El Paso County Sheriff’s Office and 4th Judicial District Attorney’s Office are investigating the shooting and will determine if Hengel’s use of force was justified.

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Long Live the King – The Denver Nuggets and Kentavious Caldwell-Pope come to a crossroads – DNVR Sports

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Long Live the King – The Denver Nuggets and Kentavious Caldwell-Pope come to a crossroads – DNVR Sports


“The King is dead. Long live the King!”
– first proclaimed in 1422, as Britain’s Charles VII succeeded Charles VI

I remember the moment the Denver Broncos won their first Super Bowl. Colorado’s first major championship had barely preceded the Broncos big win, but to have the state’s sport darlings finally atop the heap and igniting their fanbase was a moment frozen in time in the memory of this Broncos fan.

At least I thought it would be frozen.

It was a scant two days after the Super Bowl victory that the local sports voices started questioning the Broncos chances for the following year, and weeks before the team started all of its offseason planning. A few months later, draftees and all rookies are starting to prep for the season, and training camp is right behind. The moment that was supposed to be frozen in my memory was a great one, but it had melted away into the next year with the speed of a snowman in St. Augustine. Wham-bam-thank-you-Shanahan, and all of a sudden we were right back to what have you done for me lately?

It was eye opening, to say the least. In retrospect, I’m not sure why I expected they would cease all NFL operations the moment the right team had finally won it all, but hey… no one said reality was my strong suit. Through my protestations, the league decided to keep making money.

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Never was the speed and brevity of a Championship offseason more painful for one Colorado sports fan than the 114 days that went between the Denver Nuggets winning it all a year and a couple weeks ago and their early October Training Camp. A heady summer flew by, and just three and a half months later. my team that finally had their ring had to go back and try to do it all over again. It hardly seemed like enough time to savor it, especially missing faces that had been so crucial just a few months prior.

But yet another season rolls along, and for this brief moment in Nuggets history, it’s unsure that all five pieces of the Nuggets Championship starting five will be back next year. Kentavious Caldwell-Pope has declined the player option year of his deal, and will deservedly take his two championship rings out to what sounds to be a hot market for his services. If that number climbs to a level too high for Denver to feel good about matching and still being able to compete with… well…

Nuggets GM Calvin Booth was actually pretty direct and clear on the subject, both praising KCP and lamenting the possibility, but also praising and setting forth the metrics behind last year’s sixth man Christian Braun. While all of what’s still to come here is out in the ether, Nuggets Nation is alight with opinions ranging from “all is lost” to “we’ll be fine”. But the memory of a KCP who said he wanted to be a “Nugget forever” in a postgame interview after one the last home games of last season would feel like a pretty sudden and huge vacuum in Nuggets space should he suddenly just be gone. One more piece of a memory that feels like it was just a few hundred days ago… right?

Avs fans feel that championship phantom limb, just one more year removed. Hell, even a Boston sports fan has to occasionally feel the pain of going without a championship… right? Yesterday was your ring, today is your parade, and tomorrow is right back to what have you done for me lately?

Knowing the wheel is spinning right back around, maybe you even take the moments to savor the journey when you got close, or even when you got a little bit further than the time before. One of these years, even the Rockies will hang a banner up at Coors Field, and a few months down the road, the Yankees and Dodgers will just be favorites all over again. If you’ve got a moment to savor in the mix, do it while you’ve got it. Whether KCP is back this next year or not, that clock is ticking, right alongside all the rest. The shooting guard is dead. Long live the shooting guard.

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Denver Nuggets very active on day 2 of the NBA Draft

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Denver Nuggets very active on day 2 of the NBA Draft


The Nuggets did not have a pick in the 2nd round of the NBA draft on Thursday, after trading the pick to the Phoenix Suns on Wednesday so they could draft DaRon Holmes in the 1st round.

But that didn’t stop the Nuggets from making headlines.

They traded backup point guard Reggie Jackson and three future second-round picks to the Charlotte Hornets in return for cash considerations.

The move saves the Nuggets about $5.25 million dollars against the salary cap and gives them some financial freedom moving into free agency on Sunday.

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Jackson, the Colorado native, played in every game last season averaging just over 10 points a game.

The Nuggets also signed two undrafted free agents on Thursday. Creighton’s Trey Alexander and Clemson’s PJ Hall received two-way contracts. Hall averaged 18.3 points and 6.4 rebounds per game for the Tigers last season. Alexander led Creighton with 17.6 points, 5.7 rebounds and 4.7 assists per game.

Denver Nuggets

Nuggets trade up for Dayton big man DaRon Holmes II: Get to know the pick

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Also, Nuggets guard Kentavious Caldwell-Pope made it official on Thursday. He is declining his $15.4 million player contract option for next season and will test the free agent waters. The Nuggets will make an offer to keep their starting guard, but he is expected to get numerous offers on the open market and it may be financially impossible for the Nuggets to match. General Manager Calvin Booth told us on Wednesday that the team is ready for whatever happens.

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“We can try to bring him back, and if he doesn’t want to come back or opts to go somewhere else, that’s his prerogative,” said Booth. “But I think we’re prepared to plug and play, so to speak. I think if Christian Braun has to step into the starting lineup, I think we’ll be OK, if KCP doesn’t return.”

The Nuggets are also working on a new max contract extension for starting guard Jamal Murray. The new deal will be for 4 years and $209 million dollars. Murray is expected to sign the deal. He and Nikola Jokic are the two most important pieces of the Nuggets championship puzzle.






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