Media mogul Byron Allen is gearing up to bid on professional football team the Denver Broncos after the team officially was put up for sale Feb. 1 by previous owner the Pat Bowlen Trust.

Allen, who is founder and chief executive of Allen Media Group, confirmed his plans after Bloomberg first reported the news on Feb. 9. Allen said that discussions of the sale began more than two years ago with the NFL.

“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, and after serious consideration, I strongly believe I can help effectuate positive changes throughout the league,” Allen said in a statement.

The Hollywood Reporter confirmed Allen’s investor group will likely make a bid in the $3 billion to $4 billion range, keeping in line with the company’s current $4 billion valuation. If accepted, the sale would make Allen the first Black majority football team owner in NFL history.

Allen Media owns local TV stations, network broadcast affiliates and HD TV

networks.