Robert Smith is reportedly on the verge of making history — again.
The billionaire who made headlines in 2019 for paying off the Morehouse College class of 2019’s student loans has emerged as one of the possible bidders for the Denver Broncos, Front Office Sports reports. A successful purchase would make him the first Black majority team owner in the NFL’s 101-year history.
According to Woody Paige of The Denver Gazette, six groups are looking to purchase the Broncos, including a group with former quarterbacks Peyton Manning and John Elway, and one with Brittany Bowlen, daughter of late Broncos owner Pat Bowlen. The sale of the Broncos could go for more than $4 billion, which would make it the richest team sale in the history of American sports. Smith would need to spend $1.2 billion if the team sells for $4 billion, as the NFL requires primary owners to put up 30% in cash.
Smith is the richest Black person in America with an approximate net worth of $6 billion, according to Forbes. For decades, he’s worked in various financial and technological industries.
“The most important thing you can do as a young person in [the Black] community is to become an expert,” Smith said at Columbia Business School, as transcribed on his official website. [It’s key] “to become skilled in whatever it is that you are desirous of doing. And that takes countless hours and in some cases outreach for knowledge and information and in some cases it’s [about] building a learned capability. To me, there is no substitute for that … there’s no substitute for becoming an expert and being the best at your craft. And that’s what I focused on.”
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