Byron Allen, the chairman, CEO, and founder of Entertainment Studios released a statement on Tuesday announcing that he’s preparing a bid to buy the Denver Broncos, once they go up for sale.

If Allen is successful in his attempts to buy the Broncos, he would become the first Black majority owner in NFL history. His rumored net worth of $450 million is well below the $4 billion dollar price tag the Broncos are expected to carry, according to 9News’ Mike Klis.

Allen could easily be the head of an ownership group though, so this shouldn’t prevent him from being in the running. Fellow rumored bidders Peyton Manning and John Elway have estimated net worths considerably lower than that of Allen.

After entering the world of entertainment as a comedian, Allen eventually became a successful producer before founding Entertainment Studios, which owns the Weather Channel, operates several local TV stations, and has distributed multiple films.

It appears that Allen has been contemplating buying an NFL franchise for a long time, and the Broncos announcing their impending sale provided an excellent opportunity.

“NFL commissioner Roger Goodell and New England Patriots owner Robert Kraft came to me in November of 2019 and asked me to take a good look at buying an NFL team,” Allen said in a statement via Bloomberg. “And after serious consideration, I strongly believe I can effectuate positive changes throughout the league. And for that reason, I will be making a bid for the Denver Broncos.”

One can only assume the list of potential buyers will grow considerably as the Broncos finish up the paperwork to put the team up for auction.