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Another ascent? Report: Elway, Bowlen looking to buy Avs, Nuggets
Posted: Tuesday April 04, 2000 12:07 PM
DENVER (AP) -- Former Denver Broncos quarterback John Elway and Broncos owner Pat Bowlen are again considering buying the Colorado Avalanche and Denver Nuggets. Elway and Bowlen could decide this week whether to buy the teams and the Pepsi Center, the Denver Rocky Mountain News reported Tuesday. "We're hearing that a group that John is part of is working toward trying to make an offer," said Gary Howard, executive vice president and chief operating officer for Liberty Media, which acquired Ascent last week. But there have been no formal negotiations with Elway or Bowlen, he added. Liberty was mostly interested in Ascent's hotel cable company and plans to sell off the sports teams in the next six month. Also interested in buying the teams is Wal-Mart heir Stan Kroenke, the brother-in-law of Bill and Nancy Laurie whose $400 million offer was rejected by Ascent stockholders last year. Kroenke also is a part owner of the Super Bowl champion St. Louis Rams. Elway and Bowlen were part of a failed $438 million bid last summer to purchase the teams and the new arena. They teamed with Colorado businessmen Bjorn Erik Borgen and George Gillett then but there is no indication if they are still involved. Elway did not respond to an interview request and the other three men would not comment, the newspaper said. Elway's group lost in the last round of bidding when Donald Sturm offered $461 million, but that deal fell through. Ascent instead sold its entire company, including On Command and Ascent Network Services, to Liberty Media for $755 million.
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