Broncos | Elway Takes Stand In Broncos Owner Dispute
The Associated Press reports former NFL QB John Elway took the stand Friday, Feb. 6, in the long-simmering dispute between the current and former owners of the Denver Broncos. Former owner Edgar Kaiser says he was cheated of a chance to buy back part ownership of the football team. Elway testified Friday that from the time Kaiser sold the team he understood current owner Pat Bowlen to be the team owner. But he also said it was common knowledge within the organization that members of Bowlen's family had some ownership involvement. Elway said that after he retired from the team in 1999, Bowlen offered him a deal to buy up to a 20 percent stake in the team and work for Bowlen, eventually becoming the team's chief operations officer. Elway said he decided against taking Bowlen's offer because he didn't want to be a minority shareholder. Bowlen's attorneys have disputed Kaiser's claim to a right of first refusal, and said the question was moot because Elway declined the offer.
2004-02-07 11:57:09 | Source:
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