Denver Broncos

Businessman Sean O'Brien has helped create the "BuyTheBroncos" decentralized autonomous organization (DAO), which aims to raise $4 billion in cryptocurrency for bidding to purchase the NFL's Denver Broncos franchise.

CNBC's MacKenzie Sigalos reported Saturday the group of "crypto enthusiasts" already includes attorneys, accountants, software developers and pro athletes ahead of the DAO's launch in March.

"We know it sounds a bit crazy, but it's also a bit badass," O'Brien told CNBC. "The purpose essentially is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos." 

The Pat Bowlen Trust announced Feb. 1 the Broncos were being put up for sale by the family following Bowlen's death in June 2019.

"Selling an NFL team is a complex process involving numerous parties and league approval procedures. Nonetheless, the trustees hope to have the sale completed by the start of the 2022 NFL season," the Trust said in a statement.

Several groups have begun to form ahead of the bidding process, including two that feature Hall of Fame quarterbacks who played for Denver: John Elway and Peyton Manning.

"BuyTheBroncos" organizers told CNBC they'll initially try to raise the entire $4 billion, with a backup plan of raising a percentage of the funds and then joining an established, more conventional group to become a stakeholder in a joint bid.

Colorado Gov. Jared Polis said he's intrigued by the idea and would be willing to help organizers get involved in the sale process, though he can't influence the Bowlen Trust's final decision.

"I can't play favorites," Polis told CNBC. "Obviously, whoever buys the team, we're totally—as a state, we want to have a good owner—but this would be really noteworthy for Colorado if they could pull this off."

O'Brien is hopeful the bid, even if it's unsuccessful, brings more attention to the DAO space, which he believes can make a "tangible connection between this web3 life and the real world."

"While having a fan-owned Denver Broncos in a DAO-based system would be amazing, that isn't our final goal," he told CNBC. "... Our thought is that it accelerates DAO adoption for solving real-world problems such as food scarcity or unhoused peoples."

While Forbes listed the Broncos as the league's 10th-most valuable franchise in its 2021 rankings with an estimated value of $3.75 billion, the infrequency with which NFL teams become available could cause the final sale price to skyrocket. The Carolina Panthers were the last team up for sale in 2017.

The heavy fluctuation of crypto prices could also be a factor. One Bitcoin, the most prominent cryptocurrency, is worth just over $38,200 as of Sunday morning. That's a 44.6 percent drop from its all-time high of $68,990 in November—just four months ago.

So far, the Bowlen Trust hasn't said whether it will accept crypto bids on par with standard proposals, but it sounds like the sale process will move swiftly over the next few months ahead of the 2022 season, so answers could come shortly.

The Tampa Bay Buccaneers, Denver Broncos, Washington Commanders, New Orleans Saints and Carolina Panthers are expected to be among the teams to explore a trade for veteran quarterbacks this offseason.

Tom Pelissero of NFL Network reported all three teams are expected to monitor the market for Russell Wilson, Deshaun Watson and Aaron Rodgers, among other possible names that could be available.

The reported list of teams is of no surprise; all five have significant holes at the quarterback spot.

The Broncos, in particular, could be a starting quarterback away from being a Super Bowl contender with Teddy Bridgewater's contract up. Denver has a burgeoning young core of skill-position players, a solid offensive line and a stellar defense; the only negative is that the Broncos play in the AFC West, which already houses Patrick Mahomes and Justin Herbert.

Rodgers has an obvious link to Denver after the team hired former Packers offensive coordinator Nathaniel Hackett as its next head coach. Hackett has brought along several assistant coaches as well, making it a good talent and familiarity fit if Rodgers chooses to leave Green Bay.

The Panthers have been in search of a franchise quarterback since Matt Rhule's arrival and may be the team most desperate to add a difference-maker. Rhule enters 2022 firmly on the hot seat, likely facing dismissal without a major turnaround. Sam Darnold, who is on the books for $18.9 million next season, isn't the answer. 

The Bucs are leaving the door open for a potential Tom Brady return but are realistic about the fact that the 44-year-old has probably played his last game. Tampa has several veterans hitting the open market this offseason and spent a second-round pick on Kyle Trask last April, so quarterback might wind up being less of a priority than talent retention.

Financial constraints are likely to hinder any Saints pursuit of a veteran quarterback. New Orleans is an NFL-high $80.4 million over the cap and will have to make several seismic changes to the roster to simply get under the cap. It's unlikely any of the aforementioned names will want to join what's likely to be a depleted roster in 2022. Taysom Hill is the top quarterback currently under contract for next season, and Jameis Winston could be brought back on a short-term deal as he returns from an ACL tear. 

Washington also stands out as an unlikely fit for any of the top quarterbacks. The newly christened Commanders have a few solid players on both sides of the ball and a good coach in Ron Rivera but don't have the makings of a Super Bowl contender. Taylor Heinicke started 15 games for Washington in 2021 and is under contract for next season. 

Watson is the only name on the list of veteran quarterbacks whose situation would be improved by going to Washington. It would also be a public-relations nightmare for the Commanders to acquire Watson, who is being sued by 22 women for sexual assault and sexual misconduct, while at the same time their team owner is facing allegations of sexual harassment. It seems unlikely Wilson or Rodgers would be open to playing for Washington given the circumstances surrounding the organization.

Former Denver Broncos head coach Vic Fangio reportedly will not coach in 2022 after declining several defensive coordinator offers, according to ESPN's Adam Schefter. 

In addition to receiving defensive coordinator offers, Fangio interviewed for the Jacksonville Jaguars head coaching position, which ultimately went to former Philadelphia Eagles head coach Doug Pederson. 

According to reports, the Miami Dolphins and San Francisco 49ers both pursued Fangio. It's unclear if they made him an offer, though.

The Broncos parted ways with Fangio following the 2021 season. In three seasons as head coach, he never had a winning season, going 19-30. Denver finished the 2021 season with a 7-10 record. 

Fangio got his start in the NFL as a linebackers coach for the New Orleans Saints in 1986. He remained in that role through 1994 before becoming defensive coordinator of the Carolina Panthers from 1995-98. 

After that, Fangio served as defensive coordinator for the Indianapolis Colts from 1999-2001 before becoming defensive coordinator for the Houston Texans from 2002-05. He was defensive coordinator for the 49ers and Chicago Bears. 

Fangio's defenses have finished in the top 10 in points allowed and in total yards allowed nine times, per ProFootballTalk's Charean Williams, which speaks volumes to how great of a defensive assistant he has been over his career. 

While Fangio reportedly isn't set to coach in 2022, Schefter reiterated that he will likely be one of the top defensive coordinator candidates in the 2023 hiring cycle, which doesn't come as a surprise. 

Denver Broncos president of football operations John Elway issued a statement Thursday denying allegations made against him and members of the front office by former Miami Dolphins coach Brian Flores.

In a racial discrimination lawsuit filed Tuesday against the NFL and its teams, Flores said Elway and others in the front office showed up to a 2019 interview looking "disheveled" and over an hour late.

Elway called the lawsuit "false and defamatory" in his statement, following up a denial issued by the Broncos earlier this week:

While I was not planning to respond publicly to the false and defamatory claims by Brian Flores, I could not be silent any longer with my character, integrity and professionalism being attacked. I took Coach Flores very seriously as a candidate for our head coaching position in 2019 and enjoyed our three-and-a-half hour interview with him. Along with the rest of our group, I was prepared, ready and fully engaged during the entire interview as Brian shared his experience and vision for our team. It’s unfortunate and shocking to learn for first time this week that Brian felt differently about our interview with him.

For Brian to make an assumption about my appearance and state of mind early that morning was subjective, hurtful and just plain wrong. If I appeared 'disheveled' as he claimed it was because we had flown during middle of night—immediately following another interview in Denver—and were going on a few hours sleep to meet the only window provided. I interviewed Brian in good faith, giving him the same consideration and opportunity as every other candidate for our head coaching position in 2019.”

Flores said Elway and others showed up to the scheduled interview late and obviously hungover, alleging the team only interviewed him to satisfy a Rooney Rule requirement. The Broncos later hired Vic Fangio, who is white. 

“I’ve had nine interviews with NFL clubs,” Flores said in an appearance on ESPN's Get Up. “There was one interview where anyone was late, and that wasn’t me that was late, that was the interviewers who were late, and that was with the Broncos. I think there was a reason why they were late. I think they had been out the night before.

“When you sit at a table with five people who are interviewing you, you can tell who is asking questions, who is into the interview, who is not necessarily in the right state in that moment. But even then, I put my best foot forward and showed why I was a good candidate for that job. I’m always going to do that. But I certainly did not feel like I was taken seriously, and I was just there as a Rooney Rule [candidate].”

The Broncos are one of three teams formally named in the suit, along with the New York Giants and Miami Dolphins.

Flores alleges the Giants brought him in for a "sham" interview when it had already decided to hire Buffalo Bills offensive coordinator Brian Daboll. A mistaken text sent from New England Patriots coach Bill Belichick to Flores is the centerpiece of his allegations, with Belichick saying the Giants had settled on Daboll three days before the team interviewed Flores.

The Giants hired Daboll within hours of their interview with Buffalo Bills defensive coordinator Lezlie Frazier, who is Black. The interviews with Frazier and Flores satisfied the NFL's Rooney Rule, which requires teams to interview two external candidates from historically excluded groups for head coaching and front-office positions. Evidence provided by Flores seems to indicate the Giants settled on Daboll, who is white, before ever interviewing either Black candidate.

The lawsuit also made several allegations against the Dolphins, most notably owner Stephen Ross, who Flores said offered him $100,000 per loss during the 2019 season. Ross then allegedly became "mad" when Flores ignored the request and began winning games, hurting the team's draft position in the process. 

The NFL, Dolphins, Broncos and Giants have all denied Flores' allegations. 

Former Miami Dolphins head coach Brian Flores, who has filed a class-action lawsuit against the NFL and all 32 of its teams alleging racial discrimination in the hiring process of coaches, says that Denver Broncos CEO Joe Ellis, former general manager John Elway and others "looked completely disheveled" and appeared to have been "drinking heavily the night before" a scheduled interview with Flores for the team's then-open head coaching position in 2019.

Flores, who also says that the New York Giants had decided to hire former Buffalo Bills offensive coordinator Brian Daboll before bringing him in for an in-person interview this year, says that Broncos brass showed up an hour late and conducted the talk just to satisfy the league's Rooney Rule:

Incredibly, this was not Mr. Flores' first sham interview that was held only in an effort to comply with the Rooney Rule. Indeed, in 2019 Mr. Flores was scheduled to interview with the Denver Broncos. However, the Broncos' then-General Manager, John Elway, President and Chief Executive Officer Joe Ellis and others, showed up an hour late to the interview. They looked completely disheveled, and it was obvious that they had drinking heavily the night before.

It was clear from the substance of the interview that Mr. Flores was interviewed only because of the Rooney Rule, and that the Broncos never had any intention to consider him as a legitimate candidate for the job. Shortly thereafter, Vic Fangio, a white man, was hired to be the Head Coach of the Broncos.

The Broncos released a statement in response to Flores' claims:

Flores filed the lawsuit Tuesday in federal court in the Southern District of New York.

Regarding his allegations, Flores states that the league "remains rife with racism, particularly when it comes to the hiring and retention of Black Head Coaches, Coordinators and General Managers."

As of Tuesday, there were only three head coaches of color in the NFL: the Pittsburgh Steelers' Mike Tomlin, the Washington Football Team's Ron Rivera and the New York Jets' Robert Saleh.

There are seven general managers of color: Chris Grier (Miami Dolphins), Andrew Berry (Cleveland Browns), Terry Fontenot (Atlanta Falcons), Brad Holmes (Detroit Lions), Ryan Poles (Chicago Bears), Martin Mayhew (Washington Football Team) and Kwesi Adofo-Mensah (Minnesota Vikings).

As for the Broncos, they ended up hiring former Chicago Bears defensive coordinator Vic Fangio for the position but fired him this offseason after he compiled a 19-30 record. Denver has since hired former Green Bay Packers offensive coordinator Nathaniel Hackett as its new head coach.

Flores ended up taking the Dolphins' head coaching job, going 24-25 over three years. However, Miami had consecutive winning seasons for the first time since 2004 under Flores, and the team had made marked improvements since his first year, when the Fins went 5-11. Last year's squad finished 9-8 after a 1-7 start.

After the season, Miami fired Flores, and there were murmurs of disagreements and discontent between himself and team brass, with Ian Rapoport of NFL Network providing more information:

Flores has been a regular fixture of reports in this year's hiring cycle. Per Ralph Vacchiano of SNY, Daboll and Flores were considered the "1" and "1A" choices in the Meadowlands. The Giants brought Flores in for a second interview, but he notably says in the lawsuit that they had already decided on Daboll three days earlier.

The Houston Texans brought Flores in for a second interview, and Nick Underhill of New Orleans.Football reported that the 40-year-old had a Monday dinner with New Orleans Saints brass in Mobile, Alabama, the home of the Senior Bowl. The Chicago Bears also spoke with Flores but went with Indianapolis Colts defensive coordinator Matt Eberflus instead.

Flores is still without a new head coaching job as of Tuesday. He released a public statement following the lawsuit's release, noting that he could be risking future opportunities:

He also released a statement to ESPN's Cameron Wolfe:

Prior to his Dolphins' stint, Flores coached on the New England Patriots' staff from 2008 to 2018, rising to the rank of defensive play-caller in his final year. The 2018 Pats won the Super Bowl after defeating the Los Angeles Rams 13-3.

The Denver Broncos are officially for sale.

After 38 years under Bowlen family ownership, the AFC West team announced Tuesday that the Pat Bowlen Trust is beginning the sale process.

"Whoever emerges as the new owner will certainly understand what the team means to our great fans and this community," Broncos president and CEO Joe Ellis said.

According to Ryan O'Halloran of the Denver Post, the Broncos are expected to "set a record price for a U.S. professional sports franchise."

He pointed to the 2018 sale of the Carolina Panthers for $2.275 billion and said the price tag here should be much higher since the NFL just signed a television deal for $113 billion over 10 years. What's more, the further legalization of sports gambling opens other revenue streams for teams.

O'Halloran also explained the trustees in place for the Broncos must accept the highest-qualified bid since they "have a fiduciary duty to the beneficiaries (seven of Bowlen’s eight children)." The trustees and any firms they hire will then present a buyer to the NFL's finance committee, which will, in turn, make a recommendation to the league's owners.

Pat Bowlen purchased a majority interest in the team in 1984 and retired in 2014 because of Alzheimer's disease.

O'Halloran noted "the future of the Broncos has been mired in uncertainty since Bowlen retired" with multiple children making efforts to succeed their father. 

The trustees denied Beth Bowlen Wallace in 2018 before Brittany Bowlen made her attempt months later. While she was promoted to senior vice president of strategy and was a preferred choice of the trustees, she never landed the unanimous family support that Ellis said would be "necessary moving forward" for such a move to happen.

That means the team is now for sale, and Woody Paige of the Denver Gazette reported in January that Broncos legends Peyton Manning and John Elway are expected to be in different groups bidding on the club.

Elway quarterbacked Denver to two of its Super Bowl rings, while Manning led it to its third.          

Robert F. Smith, a Denver-raised billionaire who is the founder, chairman and CEO of Vista Equity Partners, reportedly will not be among the bidders to buy the Denver Broncos if they are put up for sale.

"He is not a potential buyer and is not planning on purchasing the Broncos," a source told Mike Klis and Jacob Tobey of 9News.com.

"Robert's priorities right now are on the fight for voting rights and economic justice rather than being...an owner of a team," the source added. "He continues to be most focused on how he can best help underserved communities gain access to capital, health care, education and the ballot box. Pursuing ownership of the Broncos is not on his radar right now."

The team's previous owner, Pat Bowlen, died in 2019. He had purchased the team in 1984. His seven children own about 11 percent each of the team, and his brother, John, owns the rest.

Before his death, Bowlen put the organization into the hands of a three-person trust comprised of team president Joe Ellis, team counsel Rich Slivka and Denver attorney Mary Kelly, whose job was to identify which of the children was best suited to run the team.

That issue has not been solved. While it is still possible one of Bowlen's children could take ownership, an outside sale seems likely.

"It's billionaires, it's big money, it's lawyers, it's not exactly the most captivating stuff for football fans, but it is the single biggest story surrounding the Broncos," the vice president of content strategy for sports and lifestyle company DNVR, Ryan Koenigsberg, told Conor McCue of CBS Denver.

"The truth is, everyone who can wants to buy this team," he added. "John Elway wants to be involved with an ownership group, we think Peyton Manning is going to be involved, then of course you have the other big names, [Jeff] Bezos, Jay-Z, and Robert Smith, who is a Denver-based billionaire."

According to Forbes, the Broncos are worth approximately $3.8 billion, the 10th-highest valuation among NFL teams.

"Absolutely not."

That was Denver Broncos general manager George Paton's emphatic response when reporters asked if Green Bay Packers quarterback Aaron Rodgers played a factor in Denver's hiring of Green Bay offensive coordinator Nathaniel Hackett as its next head coach.

Naturally, one might connect the dots and assume that Hackett's hiring could potentially influence the three-time NFL MVP to come to Denver, although the 42-year-old Hackett has an accomplished resume in his own right that includes overseeing an offense that finished top two in Football Outsiders' DVOA (defense-adjusted value over average) each of the past two seasons.

Rodgers' football future is up in the air, though. He notably said on The Pat McAfee Show Tuesday that "everything is definitely on the table" for what's next in his career.

That could mean retiring after 17 NFL seasons, coming back to Green Bay and finishing out a deal that expires after 2022 or working with the team to orchestrate a trade elsewhere.

In the midst of Rodgers' standoff last offseason, the three-time NFL MVP was heavily linked to the Broncos, although the freeze between the quarterback and the Packers thawed out in time for training camp.

Now the Packers' season is over, and the question is what's next for a 38-year-old signal-caller who appears set to win another MVP award this season.

A connection to the Broncos is natural.

Rodgers' affinity for Hackett was made abundantly clear in November when he told reporters that he hoped the OC didn't go anywhere unless he did (with a smile at the end):

"'Hack' has been a really important part of our culture change," Rodgers said, per Keith Cummings of Mile High Huddle. "And a part of our success on offense. I love him. I hope he doesn’t go anywhere...unless I do."

The Broncos' defense was sensational last year, allowing the third-fewest points per game. However, the 7-10 team's offense struggled, finishing 23rd in the league.

Adding Rodgers could certainly help a team that already has a group of talented skill-position players that includes running back Javonte Williams, wideouts Courtland Sutton, Jerry Jeudy and Tim Patrick and tight end Noah Fant.

For now, however, Rodgers remains a Packer, and the Broncos are searching for ways to get out of the AFC West basement. 

The Denver Broncos have reportedly narrowed their head coaching search to three candidates, per multiple reports: Dallas Cowboys defensive coordinator Dan Quinn, Green Bay Packers offensive coordinator Nathaniel Hackett and Los Angeles Rams offensive coordinator Kevin O'Connell. 

Denver is seeking to replace Vic Fangio, who was fired this offseason after going just 19-30 across three campaigns.

The Broncos haven't reached the postseason since 2015, when head coach Gary Kubiak and quarterback Peyton Manning led the team to a title. 

The team's three finalists for the head coaching position would bring varying degrees of experience to the role. 

Quinn, 51, is the only one with head coaching experience, serving as the Atlanta Falcons' head honcho through the 2015-20 seasons. He went 43-42 in that time, reaching the playoffs twice and the Super Bowl once. 

He's also served as the defensive coordinator for the Seattle Seahawks (2013-14) and the Cowboys ('21-present) during his NFL coaching career and for the Florida Gators (2011-12) at the FBS college level. 

Hackett, 42, has served as the offensive coordinator for the Buffalo Bills (2013-14), Jacksonville Jaguars (2016-18) and the Green Bay Packers (2019-present). His partnership with Aaron Rodgers has been fruitful, with the team finishing top-10 in both points and yards in each of the last two years. 

That relationship could also help the Broncos land Rodgers should he depart the Packers this offseason. 

O'Connell, 36, has the least experience of the bunch. Since joining the NFL coaching ranks in 2015, he most notably served as the offensive coordinator for the Washington Football Team (2019) and the Los Angeles Rams (2020-present). 

With Matthew Stafford installed at quarterback this season, the Rams finished seventh in points and ninth in yards.