Broncos buy portion of minority owner John Bowlen’s stake in team

Mar 22, 2018, 12:00 AM Updated: 8:02 am

(L-R) Dean Spanos, Chairman of the Board and President of the San Diego Chargers talks with Pat Bowlen, Owner and CEO of the Denver Broncos prior to their game at Sports Authority Field at Mile High on November 18, 2012 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)

(Photo by Doug Pensinger/Getty Images)

The Denver Broncos have purchased a portion of a stake in the team from minority owner John Bowlen, brother of majority owner Pat Bowlen, the club announced Wednesday.

In a media release, the Broncos said John Bowlen would remain a minority owner of the team, buying only part of his share in the franchise pending NFL approval.

“This transaction further consolidates Pat Bowlen’s majority, controlling ownership interest in the Broncos while keeping 100 percent of the team in the Bowlen family,” according to the statement.

“The acquisition of this share is independent of Mr. Bowlen’s succession plan that is being administered by the Pat Bowlen Trust.”

Denver Post Broncos beat reporter Nicki Jhabvala, who first reported the story, told “Stokley and Zach” on Wednesday that keeping ownership within the Bowlen family was “the most important” aspect of John Bowlen selling a portion of his stake back to the team.