Broncos legend John Elway lost out on $930 million payday today due to investment mistake in 1998 × Create Notifications New User posted their first comment this is comment text Link Approve Reject & ban Delete Log in Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Gaming Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout NFL News Broncos legend John Elway lost out on $930 million payday today due to investment mistake in 1998 Denver Broncos v Las Vegas Raiders Like Like Excited Happy Anxious Angry Sad Comment Share Zachary Roberts ANALYST Follow Modified 09 Aug 2022 The Denver Broncos have just recently been sold to the Walton-Penner ownership group. Of which Sam Walton, Carrie Walton-Penner, Greg Penner and Formula 1 driver Lewis Hamilton are members. The sales tag is an astounding $4.65 billion. The sale was completed today after NFL owners unanimously approved the transaction. Comparatively, this is one of the most expensive team sales in recent memory across all major sports: New York Mets, $2.4 billionBrooklyn Nets, $2.35 billionCarolina Panthers, $2.275 billionHouston Rockets, $2.2 billion John Elway has been around the Denver Broncos for a long time. He played all 16 of his seasons in Denver and was a nine-time Pro Bowler. Elway was Denver's general manager from 2011 to 2020. He's still the President of Football Operations. This team means a lot to him, but an investing decision cost him an incredible $930 million. Elway declined a 20% stake in the team back in 1998. Darren Rovell@darrenrovellIn 1998, John Elway turned down 20 percent of the Denver Broncos for $36 million.Based on the closing sale price of $4.65 Billion, that stake would have been worth $930 million.52660In 1998, John Elway turned down 20 percent of the Denver Broncos for $36 million.Based on the closing sale price of $4.65 Billion, that stake would have been worth $930 million. Fast forward to today when the team is being sold for over $4.5 billion and it's clear that Elway made a huge mistake. His estimated net worth is $145 million, so the former quarterback is doing just fine. But the decision not to be part of the team's ownership cost him a huge sum of money. The Denver Broncos have finally found their franchise quarterback Denver Broncos Introduce Quarterback Russell Wilson After John Elway retired in 1998, Denver struggled to find consistency at quarterback. They plugged Brian Griese in for four seasons before moving to Jake Plummer for the next three-and-a-half years. Next, Jay Cutler took over, but he was succeeded by Kyle Orton in 2009. Tim Tebow was a one-season disappointment before Peyton Manning joined the team in 2012. Manning was coming off a major neck injury and in his 30's, but he changed Denver's trajectory. Manning took them to two Super Bowls, losing the first to the Seattle Seahawks in the 2013 season. Two years later, he returned to the big game and the Broncos beat the Carolina Panthers. At the pinaccle of acheivement, Manning retired. Since then, Denver have once again been struggling at quarterback. The quarterback room has been a revolving door. Denver have rolled out the following players under center: Brock OsweilerTrevor SiemienPaxton LynchCase KeenumJoe FlaccoDrew LockBrandon AllenTeddy Bridgewater They've now traded for Russell Wilson. Much like Manning, Wilson is unlikely to be in Denver for a decade. He's 33 years old, so he's still got some good years ahead. This is something the Broncos are counting on. Wilson is expected to lift Denver from the disappointing 7-10 team of last season and take them into contention. Whether this is realistic is yet to be seen. The AFC West is a warzone of talented rosters. Featuring the Kansas City Chiefs, the Las Vegas Raiders and the Los Angeles Chargers, the West is the toughest division in football. Denver also have reasons to be optimistic. Many of their players are held in the highest regard, but have been limited by poor quarterback play. With a franchise quarterback under center, the Broncos could well challenge in 2022. We will see them in a month's time when the season kicks off. × Rate this story! Thank You! LIVE POLL Q. 0 votes so far Edited by John Maxwell Like Like Excited Happy Anxious Angry Sad Share Comments Show More Comments GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ Be the first one to comment on this story Quick Links More from Sportskeeda Fetching more content... 1 Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Gaming Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout No Results Found Get the free App now Manage notifications Popular ‍ Sports (30+) CricketCricket HomeCricket NewsScheduleIND vs SAAUS vs WIENG vs PAKLegends LeagueECC T10County ChampionshipBukhatir LeagueNZ T20 Tri-SeriesWomen's Asia Cup 2022Japan Cricket LeagueWI-W vs NZ-WECT10T20 World Cup FootballFootball HomeNewslettersSK Experts ScheduleEPLNations LeagueLa LigaLigue 1Champions LeagueFIFA WCMLS Bundesliga Serie A WWEWWE HomeNewslettersRumor RoundupRAWSmackDownResultsRosterChampionsWWE Extreme Rules 2022PPV ScheduleAEW EsportsEsports HomeMinecraftOverwatch 2RobloxGenshin ImpactFortniteGTAStreamersFree FirePUBGValorantBGMIPop CultureAnimeGaming TechWiki Guides TennisTennis HomeTennis calendarChina OpenTennis Results TodayATP RankingsWTA RankingsRoger FedererRafael NadalNovak DjokovicSerena Williams MMAMMA HomeUFC NewsONE ChampionshipUFC Fight NightScheduleRankingsResultsUFC Fights TonightONE Championship ResultsONE Championship ScheduleONE Championship Rankings KabaddiKabaddi HomePKL 2022PKL SchedulePKL Points TableKabaddi Rules WikiWiki HomeMinecraft WikiNaruto WikiTikTok WikiYoutube WikiGTA WikiTerraria WikiOne Piece Wiki MoreSportsBasketballIndian FootballNFLMinecraftFormula 1NascarPop CultureCollege FootballHockeyGolfAthleticsBadmintonGymnasticsWrestlingSwimmingTennisShootingBoxingArcheryWinter SportsRobloxSkateboardingKho KhoLifestyle LINKS About Us Write For Us Policies Editorial Standards Journalism Awards Fact Check Affiliate Program Careers CSR Privacy Policy Contact Us Edition: English हिन्दी