John Elway "has joined forces" with Denver mutual-fund
entrepreneur Lars Erik Borgen and Booth Creek Ski Holdings
Owner George Gillette in a bid to buy the Nuggets, Avalanche
and Pepsi Center from Ascent Entertainment, according to
sources of Mike Monroe of the DENVER POST. Two other
bidders -- Denver business exec Donald Sturm and an
"undisclosed party from out of state" -- also have submitted
formal bids to Ascent's Board of Dirs. Borgen and Gillette
have sued Bill and Nancy Laurie "insisting" they reneged on
a deal to sell the Avalanche once the Lauries closed their
deal with Ascent Entertainment. That suit is currently
pending in Denver District Court. Monroe: "Elway's
participation with Borgen and Gillette appears to make them
legitimate bidders for all three of the sports assets, not
just the hockey team." Sources close to the bid process for
Ascent's sports assets said the "mysterious third party,"
described as "bigtime East Coast money," was "believed to be
the most well-heeled of all the potential bidders, including
the Lauries" (DENVER POST, 7/20).
