Billionaire Robert F. Smith Could Become The First Black Man To Own An NFL Team
Billionaire Robert F. Smith could become the first black man to own an NFL franchise.
Billionaire investor Robert F. Smith, 59, is in the running to own the Denver Broncos, football team. Most importantly, he could become the first black man in history to acquire an NFL franchise. The team is reportedly going for an estimated $4 billion, making it the richest sale of any franchise in United States sports history.
Smith–whose net worth is around $6.7 billion–will have bid against other contenders such as NFL veterans Peyton Manning and John Elway. Brittany Bowlen, the daughter of former Broncos owner Pat Bowlen, has allegedly thrown her hat into the ring.
Although Smith is reportedly the richest black man in America, he tends to fly under the radar. He has put his earnings back into the black community by donating millions of dollars to several black causes.
In 2019, he promised to assist 400 graduates at Morehouse College by paying off their student loan debts. The Denver-native wound up spending $34 million to cover their finances.
His Fund II Foundation aims to “preserve the African American experience.” The charity has donated nearly $250 to The United Negro College Fund, NPower, and The Opportunity Network.
Smith helped open the National Museum of African American History when he donated $20 million to it in 2016.
Robert F. Smith founded Vista Equity Partners, a private equity firm, in 2000. Today, the firm has $86 billion in assets.
In order to snag the Denver Broncos, Smith will need to put forth a minimum of $1.2 billion.
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