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Bob Dole
12-22-2004, 07:32 AM
Why in God's name would anyone <b>want</b> 50% ownership of that steaming pile?

DENVER -- A former Denver Broncos owner has turned to Denver District Court to seek a 50 percent stake in the NFL franchise, the second court case in an ongoing battle for ownership.

Edgar Kaiser Jr., who in 1984 sold his 60.8 percent share in the team to Pat Bowlen for $65 million, alleges Bowlen violated the terms of the sales agreement that gives Kaiser the first right to buy back shares in the team.

In court documents filed in Denver District Court Friday, Kaiser said Bowlen violated that provision when he bought roughly 50 percent ownership of the team from his siblings, William Bowlen and Mary Elizabeth Jagger.

Kaiser wants Judge Morris Hoffman to enter a "specific performance" decree giving Kaiser the chance to buy those shares of the team for $50 million.

On Tuesday, Hoffman ordered both sides to agree by this week on a trial date sometime before July 11.

"[This pleading] is simply an attempt to revive his specific performance claim and thus get a state court bite out of what has been up to this point a federal court apple," wrote Bowlen's lead attorney Dan Reilly.

Any change in ownership would require the approval of NFL owners.

In a case filed in U.S. District Court, a jury in February ruled Bowlen violated the first-right-of-refusal clause when he offered former quarterback John Elway 10 percent of the team for $15 million. Jurors, however, rejected the claim that Bowlen violated the contract by distributing Broncos ownership interests to family members.

Earlier this month, U.S. District Judge Richard Matsch ordered Bowlen to make the same offer to Kaiser as had been made to Elway, which included a buyout two years after the sale for $20 million plus 8 percent interest.

Elway had rejected the offer.

Matsch delayed the order's implementation to give both sides a chance to appeal.

Source (http://sports.espn.go.com/nfl/news/story?id=1951551)

redsurfer11
12-22-2004, 08:59 AM
So the cheating starts at the top.

Skip Towne
12-22-2004, 09:04 AM
A totally corrupt organization.

Amnorix
12-22-2004, 09:22 AM
How 'bout cause it's worth hundreds of millions of dollars and, at worst, he could resell it to someone else?

Bob Dole
12-22-2004, 09:27 AM
How 'bout cause it's worth hundreds of millions of dollars and, at worst, he could resell it to someone else?

Worth hundreds of millions to who?

ROYC75
12-22-2004, 10:27 AM
How 'bout cause it's worth hundreds of millions of dollars and, at worst, he could resell it to someone else?

100's ? Now that would be 1 big dummy ! ROFL

CHIEF4EVER
12-22-2004, 11:09 AM
In court documents filed in Denver District Court Friday, Kaiser said Bowlen violated that provision when he bought roughly 50 percent ownership of the team from his siblings, William Bowlen and Mary Elizabeth Jagger.


Now we know why the Cheatin Donx are such cheaters. It is corporate policy to be cheating scum.