Pat Bowlen submits offer to former owner

Denver Broncos owner Pat Bowlen has submitted an offer to former owner Ed Kaiser, offering a ten percent share of the team.

According to court documents, Denver Broncos owner Pat Bowlen has submitted an offer to Ed Kaiser in which the former owner could buy a ten percent share of the team for $15 million.

The deal, which was earlier proposed to John Elway, contains a clause that would allow Bowlen to buy back the ten percent stake in two years, for $20 million plus eight percent annual interest.

The offer was submitted following a judge's order, asking that both parties submit proposals in an attempt to resolve a breach of contract issue brought on by Kaiser. Last June a jury decided that Bowlen had breached the contract with Kaiser guaranteeing him first opportunity to buy a piece of the team.

The stumbling block appears to be the buy back clause, which Kaiser is opposed to.

The dispute will eventually be decided by U.S. district judge Richard Matsch.


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