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The NFL Could Have Its First Black Owner In Billionaire Robert F. Smith

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Billionaire Robert F. Smith has emerged as a potential bidder for the Denver Broncos.

The Denver native is one of the country’s richest individuals and could become the NFL’s first Black majority owner.

With an estimated net worth of $6.7 billion, the 59-year-old entrepreneur ranks as the richest Black person in America, according to Forbes. The Broncos sale could fetch a record $4 billion or more, which would make it the richest team sale in U.S. sports history.

Although Smith is reportedly the richest black man in America, he tends to fly under the radar. He has used his earnings to support black causes.

In 2019, he promised to assist 400 graduates at Morehouse College by paying off their student loan debts. The Denver-native wound up spending $34 million to cover their finances.

In 2019, he promised to assist 400 graduates at Morehouse College by paying off their student loan debts. The Denver-native wound up spending $34 million to cover their finances.

His Fund II Foundation aims to “preserve the African American experience.” The charity has donated nearly $250 to The United Negro College Fund, NPower, and The Opportunity Network.

Smith helped open the National Museum of African American History when he donated $20 million to it in 2016

Smith grew up in Denver. He founded Vista Equity Partners in 2000 and still serves as the company’s chairman and CEO. As of September, the private equity firm had $86 billion in assets under management.

Source: Front Office Sports

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