Byron Allen plans to make a bid for the Denver Broncos, the comedian-turned-media magnate said Wednesday. 

Allen, the founder and chairman and CEO of Allen Media Group, could become the first Black majority owner in NFL history. 

Allen said that NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft approached him in November of 2019, encouraging him to bid on an NFL team, according to Bloomberg. 

“After serious consideration, I strongly believe I can effectuate positive changes throughout the league,” Allen said. “And for that reason, I will be making a bid for the Denver Broncos.”

A message left with an NFL spokesperson was not immediately returned. 

The Broncos are expected to fetch around $4 billion, a record price for any sports franchise sold. Under NFL’s current requirements, Allen would need to put up $1.2 billion (30% of the sale price) and that amount can’t be financed. 

Allen, 60, rose to fame as a comedian before he pivoted to media ownership with the creation of Allen Media. The company’s portfolio includes The Weather Channel and 27 network affiliate television stations in 21 markets. 

Other Possible Bidders

Allen is the biggest name to publicly express interest in bidding on the Broncos as a controlling owner. 

There were six groups reportedly seeking to purchase the Broncos with former Broncos quarterbacks Peyton Manning and John Elway linked to two of the groups. ​Brittany Bowlen, a daughter of late Broncos owner Pat Bowlen, is also exploring a bid to buy the team.

Softbank is quashing the planned sale of chip technology company Arm to Nvidia, while reporting a return to profitability.

Valued at $40 billion when it was agreed to in 2020, the deal could have brought SoftBank $74 billion due to growth in Nvidia’s stock.

The Tokyo-based investment giant is reviving plans to take Arm public. Arm provides technology used in the Nintendo Switch and other gaming and hardware devices.

The deal faced heavy regulatory scrutiny in multiple countries — namely the U.S., where the Federal Trade Commission sued to block the deal. 

SoftBank will pocket a nonrefundable deposit of $1.3 billion from Nvidia. 

• SoftBank recorded $39.7 billion in net sales for the nine months ending Dec. 31, 2021, up 10.7% year-over-year.
• However, it’s net income plummeted 79% from the same period in 2020 to $5.6 billion.
• The company bounced back from the previous quarter, when it lost $3.5 billion, to post $251 million in profit for the last three months of 2021.

Big Spender in Sports, Fitness

SoftBank has invested heavily in sports and fitness over the past year, acquiring Accordia Golf in November in a $3.5 billion deal. The previous month, it invested $400 million in activewear brand Vuori. 

Prior to that, it led a $680 million funding round for NFT soccer platform Sorare and a $200 million round in health tracking wearable company WHOOP. It also joined a $325 million investment in Fanatics.

Fitness apparel company Nobull is entering the performance running market with the launch of its new shoe, the Runner+.

The company, which already offers cycling, casual running, and trail running shoes, developed the shoe’s performance technology — which includes cutting excess weight — with help from a Vermont research and development lab.

The shoes, launching Feb. 11, follow Nobull’s continued expansion and a funding round in April 2021 that gave the company a valuation of more than $500 million. As of April, the company raised $32 million, according to Pitchbook.

• Last year, Nobull replaced Reebok as title sponsor of the CrossFit Games and official supplier of CrossFit apparel. The total individual prize purse for the season was more than $2.3 million.
• Nobull will host the games again this year, which will run for an additional day.
• In August, New England Patriots’ quarterback Mac Jones signed a deal with the company, joining its roster of athletes including seven-time Olympic Gold Medal swimmer Caeleb Dressel and five-time CrossFit Games Champion Tia-Clair Toomey.

Forming Nobull’s Future

Co-founder Marcus Wilson said in August that the company feels “strongly that before long, we will have great athletes in all major sports.” 

Nobull expects to remain a direct-to-consumer brand for the time being with stores in Boston, Miami, and New York City. Vice president of footwear design Mike Kirtley said the company is excited to “explore the boundaries of the product.”

Since the pandemic began, athletes nationwide have turned to Title IX laws to fight back against budget-related sports cuts. 

On Monday, yet another war was waged — this time over financial aid distribution.

Seventeen women’s sports athletes filed a Title IX lawsuit against San Diego State University, alleging the school unequally distributed financial aid between men’s and women’s players.

The school eliminated women’s rowing after last season, partially citing pandemic budget cuts as well as Title IX itself. Now, the plaintiffs — women’s rowers among them — have asked for a total of more than $1.2 million, in addition to demanding that SDSU provide equitable aid going forward.

• The lawsuit alleges that in 2019-20, women’s sports athletes could have received more than $690,000 more with aid proportionate to men’s athletes.
• In 2020-21, women’s sports athletes allegedly lost out on more than $570,000.
• A similar pattern has emerged dating back to 2010, lead counsel Arthur Bryant said in a statement.

In response, SDSU noted its track record for investing in women’s sports and scholarships. “We are disappointed with the incomplete picture presented,” a statement read.

A Proven Record

Bryant has been successfully prosecuting Title IX cases since 1985. 

He and his firm have become the go-to lawyers for athletes at schools from Dartmouth to William & Mary, winning at least eight settlements since the pandemic began. In some cases, a threat of a lawsuit alone was enough to reinstate teams.