Broncos Owner Bowlen Affirms Franchise Is Doing OK Financially
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Bowlen Isn't Among Richest NFL Owners,
But Says "Not In This For Money" |
Broncos Owner Pat Bowlen said that the franchise is "in stable financial shape," according to Woody Paige of the DENVER POST. There have been "hints Bowlen has fallen into serious debt in the aftermath of wasting money on free agents who didn't pan out, combined with the severe economic downturn, his investment" in Invesco Field at Mile High, and the $21M still due former Broncos coach Mike Shanahan, "as well as guarantees to fired assistant coaches." Paige noted Bowlen is "not among the richest NFL owners, and a majority of his income is football-based." However, Bowlen said, "I'm not in this for money. ... If I wanted to make a fortune, I'd sell the team. But I'm doing exactly what I want to be doing, and we're fine financially." Bowlen said that while he is "involved in every facet of the organization," Broncos COO Joe Ellis, Bowlen's "confidant, has been given more power in the restructuring since Shanahan was fired." Paige noted Bowlen's reputation has "taken a hit of late because of the Broncos' devastating decline the past three seasons." But Bowlen said, "I'm rejuvenated. I haven't been in this position for quite a while." He added that health-wise he is "not slowing down or slacking off." Bowlen: "My health is excellent, for a guy my age." But he added, "I have short-term memory loss" (DENVER POST, 5/3).
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