John Elway Net Worth: Elway spent his 16-year professional career with the Denver Broncos while playing collegiate football for the Stanford Cardinal. He is frequently considered one of the greatest quarterbacks in history. Elway had the most victories of any starting quarterback at his retirement in early 1999, and he was statistically the second-most effective passer in NFL history.
He was one of just two players—the other being Thurman Thomas—and the only quarterback to score a running touchdown in four Super Bowls. He was also a productive runner of the ball. Likewise, now we can see people searching for John Elway Net Worth.
How Rich Is John Elway?
The former American football player John Elway has a $145 million fortune. He now serves as the Denver Broncos general manager and president of football operations. Before retiring in 1999, Elway had a very successful career as a quarterback and established many records.
During his NFL career, John made a total of $47 million in compensation. During his playing career, he received millions of dollars via endorsements. He has created and lost enormous sums of money in ventures outside of professional athletics. This article will go into further depth about these transactions. Likewise, now we can see people searching for John Elway Net Worth.
Who Is John Elway?
On June 28, 1960, John Elway and his twin sister were born in Port Angeles, Washington. John grew up with his twin and an older sister and was exposed to his father’s success as a football coach at a young age. As Jack, John’s father, worked as a football coach for Washington State and the University of Montana. The family moved around the country.
As a standout high school quarterback, John Elway established himself as a “dual-threat” who was equally adept at passing and running. Elway honed his baseball skills while he was a high school student. By the time he was prepared to graduate, he had received offers of football scholarships from numerous institutions.
He subsequently enrolled at Stanford University, where he rose to quarterback stardom. He accumulated an exceptional record that caught the attention of the NFL, even though his final game for Stanford was marred by an aggressive play that led to the team’s defeat. In addition, he kept up his prodigious play on the baseball diamond and earned a bachelor’s degree in economics.
When Did John Elway Start His Career?
In the 1983 NFL Draft, the Baltimore Colts selected John Elway, who subsequently persuaded them to trade him immediately. If he hasn’t changed, he even threatened to sign with the New York Yankees (Elway still had the chance to play professionally in baseball). He was eventually moved to the Denver Broncos, fulfilling his wish.
Elway had battled to establish himself as the Broncos’ starting quarterback early in his career. However, Elway took over and guided them to a Super Bowl game in 1986 when Steve DeBerg sustained a shoulder injury. The Broncos made a comeback to the Superbowl in 1987 but lost again.
In 1989, they returned to the Superbowl but failed this time, which was somewhat discouraging. At this point, Elway was still extremely young in his career, and some people didn’t think he would ever win the Super Bowl.
Over the following few years, he did, however, progressively develop vital expertise and confidence. He ultimately achieved his aim of winning the Superbowl in 1997 by leading his club back there. Likewise, now we can see people searching for John Elway Net Worth.
Elway’s performance once more fell short of expectations, but it didn’t matter. Broncos had triumphed. When he won the Super Bowl once more the following year, Elway put on one of the best performances of his whole career. In his final game, he was given the MVP award.
John Elway Car Dealerships
John Elway founded five auto businesses under the John Elway Autos banner. The dealerships, which are in Denver, were sold to AutoNation in 1997 for $82.5 million. AutoNation could also use Elway’s name as a marketing tool until 2006. Elway was able to return to the auto dealership business in his name after the contract expired in 2006 when it came to an end.
In the following years, John opened a Cadillac franchise under the Sonic Automotive brand, along with two Toyota Scion dealerships in California, a Chevrolet dealership in Colorado, a Chrysler Jeep store in Colorado, and a dealership for Chevrolet in Colorado. Likewise, now we can see people searching for John Elway Net Worth.
Potential Ownership of Broncos
John Elway previously had the chance to buy a stake in the Denver Broncos team that would have eventually been very profitable. Pat Bowlen, the owner of the Denver Broncos, proposed to sell John Elway a 10% ownership in the organization for $15 million in the late 1990s as his career was coming to an end.
Elway would have had the option to acquire an additional 10% of the deal if he chose to forego the $21 million in compensation he was due at the time. Additionally, he would have worked as Bowlen’s special assistant and the Broncos’ COO (which would, of course, come with a salary of its own).
John would own 20% of the Broncos if he contributed $15 million of his own money and forfeited $21 million in future revenues. That amounts to almost $36 million to control 20% of an NFL team. Pat Bowlen valued the Broncos at $180 million based on those figures.
Elway could sell back his stake under the terms of the agreement with a $5 million markup and 8% interest compounded annually since the original purchase. Finally, Elway would have the first choice if the Bowlen family decided to sell the entire franchise. Elway agreed not to pursue the agreement.
This proved to be an abysmal choice. Pat Bowlen’s heirs agreed to sell the Broncos to Rob Walton, an heir to Walmart, for $4.5 billion on June 6, 2022. Elway would have collected $900 million upon the team’s sale if he had obtained the 20% interest.
Other Bad Investments
Over the years, John Elway has made many poor financial decisions. One of the most prominent was investing $15 million in a Ponzi scam (the same amount he might have used to purchase a 10% interest in the Denver Broncos). Before he could get $6 million back to safety, he lost $7 million.
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He made significant investments in Laundromax, a fledgling business, in 1998. He also invested $500,000 in Quepasa, a Latino media company, purchasing more than 130,000 shares. By 2000, Elway had suffered a significant loss as share prices had dropped from $27 to $1.
Elway put millions of dollars into the MVP.com website in 1999, but it rapidly went out of business. Additionally, he shared ownership of the football team Colorado Crush, which failed after the Arena Football League was abolished. Keep yourself updated with all the latest news from our website Newswatchlist.com and get all the recent updates.