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Tuesday, February 24, 2004

Verdict in Broncos Trial: The jury in the case over ownership of the Denver Broncos has decided that current team owner Pat Bowlen breached certain terms of the contract in which he purchased the team from Edgar Kaiser. According to the sale agreement, Bowlen was required to make any offer to sell part of the team to Kaiser before anyone else. However, in 1998, Bowlen offered former Bronco quarterback twenty percent ownership in the team, an offer which Elway rejected. The jury found that this offer violated the terms of the contract between Kaiser and Bowlen. The jury rejected Kaiser's other claim, that Bowlen misrepresented himself as the sole buyer of the team.

The trial now shifts to the damage phase, where Kaiser will try and assert a claim to owning twenty percent of the team. Attorneys for Bowlen, however, say that Kaiser's only possible claim is for monetary damages resulting from a breach of contract. No date has been set for the hearing on this issue.

What now for Bowlen? Smart money is that he will make a settlement offer to Kaiser to try and make this issue go away as quickly as possible.


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