John Elway: A Legendary Career With Missed Opportunities
John Elway’s illustrious NFL career led him to numerous accolades and an unforgettable farewell. However, a significant decision he made during his playing days has sparked discussion about what could have been. Elway’s choice to decline a lucrative investment opportunity in the Denver Broncos has left many contemplating the vast fortunes that may have slipped through his fingers.
A Dazzling End to a Stellar Career
During his NFL tenure, John Elway amassed over 50,000 passing yards and 300 touchdown passes, earning him spots on nine Pro Bowl teams. He concluded his remarkable 16-year career with two Super Bowl victories, the final of which took place on January 31, 1999, at Super Bowl XXXIII. Leading the Broncos to a 34-19 defeat of the Atlanta Falcons, Elway was named Super Bowl MVP. Shortly thereafter, on May 2, 1999, he announced his retirement.
The Investment Opportunity
As the 1998 season began on September 6, a pivotal moment arose. Broncos owner Pat Bowlen approached Elway with a substantial offer. The team had $21 million in deferred salary owed to Elway, and Bowlen proposed the chance for him to purchase 10% of the franchise for $15 million. Furthermore, if Elway agreed to forgo his deferred salary, he could secure an additional 10% stake, effectively valuing the team at $180 million.
Bowlen even included a safety net: should Elway be dissatisfied with his investment within five years, he could sell back to Bowlen for his purchase price plus $5 million, along with an option for priority purchasing of any additional stakes. At that time, Elway had already earned more than $50 million in his career and had recently sold his car dealership for $82.5 million, making the investment highly feasible.
Regret and Setbacks
In a surprising turn, Elway declined the offer, opting instead for another investment that ultimately resulted in a devastating loss. He fell victim to a $150 million Ponzi scheme, costing him $15 million. Meanwhile, approximately a year after the incident, the Broncos were valued at $1 billion for the first time.
A Change in Ownership
Following Bowlen’s diagnosis of Alzheimer’s in 2014 and his passing in June 2019, the Broncos were managed by the “Bowlen Trust,” a complex arrangement involving Pat’s seven children. In February 2022, the trust announced plans to sell the team, culminating in an agreement with a consortium led by Walmart heir Rob Walton on August 9, 2022. The sale price? An astonishing $4.65 billion.
The Cost of a Missed Opportunity
By doing the math, it’s clear that Elway’s potential 20% stake in the Broncos—valued at $930 million today—could have transformed his financial landscape. While he currently enjoys a considerable net worth of $145 million, accepting Bowlen’s offer could have positioned him among the elite of former athletes. Today, Elway reflects not only on his stellar career but also on a missed opportunity that could have significantly altered his legacy.
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