The Business Side Of A Legend - John Elway Net Worth And Wealth-building Strategies
Similar to this, Elway has maintained a public profile during his 16-year professional career and his subsequent roles as CEO and General Manager of the team he played for. The Washington native led well on the field, and in his role as organization president, he exhibits unrelenting dedication. John Elway net worth is a result of this. excellent players seldom become excellent managers, but one former Bronco is showing us otherwise.
Author:Emily SanchezReviewer:James PierceJan 13, 20248.8K Shares197.4K Views
John Elway is a former professional football quarterback and current American football executive with the Denver Broncos. John is inducted into both the College Football and Pro Football Halls of Fames, and he is largely considered the greatest quarterback of all time.
Similar to this, Elway has maintained a public profile during his 16-year professional career and his subsequent roles as CEO and General Manager of the team he played for. The Washington native led well on the field, and in his role as organization president, he exhibited unrelenting dedication. John Elway net worthis a result of this. Excellent players seldom become excellent managers, but one former Bronco is showing us otherwise.
Quick Facts About John Elway
| Date Of Birth | Jun 28, 1960 |
| Place Of Birth | Port Angeles |
| Gender | Male |
| Profession | American football player, Athlete |
| Nationality | United States of America |
John Elway Early Life
On June 28, 1960, John Elway and his twin sister were born in Port Angeles, Washington. John grew up with his twin and elder sister, and from a young age, he saw his father succeed as a football coach. As John's father Jack coached football at the University of Montana and Washington State, the family relocated throughout the country.
As a high school quarterback, John Elway was an exceptional player who distinguished himself as a "dual-threat" due to his equal ability to run and throw. In high school, Elway developed into a proficient baseball player as well. Upon reaching graduation, he received football scholarship offers from several institutions.
After that, he enrolled at Stanford University, where he rose to prominence as a quarterback. Despite a controversial play that cost the squad the game in his last game at Stanford, he went on to accumulate an outstanding record that caught the attention of the NFL. In addition, he maintained his success on the baseball field and earned a bachelor's degree in economics.
John Elway's Net Worth
John Elway is worth $145 million in total. The former athlete's net worth has been boosted by his nearly $45 million in earnings over 16 remarkable seasons, his executive income from the organization, and several sponsorships throughout the years.
John Elway's Career Earnings
John Elway's salary as the quarterback for the Denver Broncos alone was $25.435 million. With $20.1 million in signing bonuses, he earned $45.455 million in lifetime earnings over 16 seasons.
Career Of John Elway
After being selected by the Baltimore Colts in the 1983 Draft, John Elway famously persuaded them to sell him right away. If Elway wasn't moved, he even made a threat to play for the New York Yankees (he was still a prospective professional baseball player). Ultimately, his dream came true as he was sent to the Denver Broncos.
Elway had a difficult time making the team as the starting quarterback when he first joined the Broncos. But Elway took over when Steve DeBerg hurt his shoulder and led them to the 1986 Super Bowl. The Broncos made a comeback to the Super Bowl in 1987, but they lost again.
When they went back to the Super Bowl in 1989, they lost, which was really disheartening. Elway was still relatively young at this point in his career, and some people didn't think he would ever win the Super Bowl. But over the next several years, he progressively acquired confidence and invaluable expertise.
He ultimately achieved his goal of winning the Super Bowl in 1997 after leading his club there once again. Elway's performance was lacking once again, but it was little. Broncos had prevailed. When Elway won the Super Bowl again the following year, it was one of his greatest performances ever. In the game that was his last one, he was chosen MVP.
John Elway's Charity Work
Elway founded the Heroes Foundation and the Elway Foundation, two charitable organizations. The former seeks to shield kids from harm, while the latter provides resources and encouragement to American heroes. In addition, he actively supports many other charitable organizations, including the Muhammad Ali Parkinson Center, The Miami Project, and Make-A-Wish Foundation.
Social Media Presence
- Instagram account (@johnelway)- 69.6K followers
- Twitter account (@johnelway)- 1 million followers.
John Elway Autos
John Elway founded John Elway Autos, a chain of five auto dealerships. The businesses, which were based in Denver, were sold to AutoNation in 1997 for $82.5 million. Additionally, until 2006, the agreement let AutoNation utilize Elway's name in marketing campaigns.
Elway was allowed to reenter the vehicle dealership business under his own name once the agreement ended in 2006. Following that, John opened a Cadillac franchise under the Sonic Automotive brand, two Toyota Scion dealerships in California, a Chevrolet dealership in Colorado, a Chrysler Jeep dealership in Colorado, and a Cadillac franchise in Colorado.
Potential Ownership Of Broncos
Once upon a time, John Elway had the chance to buy a potentially very profitable share in the Denver Broncos team. As John's career was coming to an end in the late 1990s, Pat Bowlen, the owner of the Broncos, made Elway an offer to buy a 10% share in the franchise for $15 million.
Elway would have also had the opportunity to purchase an additional 10% of the transaction in the event that he chose not to accept the $21 million in salary that he was entitled at the time. Along with becoming the Broncos' COO (which, of course, comes with a salary of its own), he would have also been Bowlen's special assistant.
Put another way, John would own 20% of the Broncos if he contributed $15 million of his own money and forfeited $21 million in potential profits. Almost thirty-six million dollars for a twenty percent stake in an NFL team. Pat Bowlen was estimating the Broncos' worth at $180 million based on those figures. Elway was able to resell his part with a $5 million markup and an annual interest rate of 8% since the original purchase, thanks to the arrangement.
And last, in the unlikely event that the Bowlen family chose to sell the whole team, Elway would have first choice. Elway turned down the offer. This proved to be a really poor choice. The Broncos will be sold to Walmart heir Rob Walton for $4.5 billion, according to an agreement made with Pat Bowlen's heirs on June 6, 2022.
Elway would have collected $900 million when the franchise sold if he had been able to acquire the 20% ownership. Many onlookers puzzled at why John never wrote anything down years later.
Moreover, some commentators have noted that Elway really did own the $15 million; in fact, prior to Pat Bowlen's proposal, he had sold many auto dealerships for almost $80 million annually. Elway defended himself by saying that he didn't accept the offer because he didn't think he had a place in the Broncos' management ranks.
Other Bad Investments
Over the years, John Elway has made some poor financial decisions. The choice to spend $15 million in a Ponzi scheme a sum equivalent to what he might have put in a 10% Broncos stake was one of the most noteworthy. Before he could get $6 million back out to safety, he lost $7 million in the end.
He made significant investments in Laundromax, a new business that failed to take off, in 1998. In the same year, he paid $500,000 for more than 130,000 of shares in QuePasa, a Latino-language media firm.
Elway suffered a significant loss as share prices dropped from $27 to $1 by the year 2000. Millions of dollars were spent by Elway in 1999 on the website MVP.com, which went down fast. In addition, he was a co-owner of the Colorado Crush, an Arena Football League football club that failed following its closure.
Interesting Facts About John Elway
- John Elway comes from a family with a strong athletic background; his father, Jack Elway, was a college football coach.
- Elway was not only a football star but also excelled in baseball at Stanford University, where he was selected in the second round of the 1981 Major League Baseball draft by the New York Yankees.
- During his rookie season in the NFL, Elway set a record by starting 10 games and becoming the first rookie quarterback to start in the Pro Bowl.
- Elway was known for his remarkable comeback victories, leading the Broncos to 47 fourth-quarter comebacks and 51 game-winning drives during his career.
- He is one of the few quarterbacks to have defeated all 31 other NFL teams at least once during his career.
- In 1992, Elway became the first quarterback in NFL history to throw for over 3,000 yards in a season for 10 consecutive years.
- Elway was not only a talented passer but also a threat on the ground, finishing his career with over 3,400 rushing yards and 33 rushing touchdowns.
- His famous "helicopter run" occurred during Super Bowl XXXII when Elway scrambled and was hit, spinning in the air like a helicopter before being brought down.
- Elway retired as the all-time winningest starting quarterback in NFL history, a record he held until surpassed by Brett Favre.
- John Elway was a part of the 1986 NFL draft class, which is considered one of the greatest quarterback classes in history, featuring quarterbacks like Jim Kelly and Dan Marino.
- Elway was known for his strong arm, and he held the record for the longest touchdown pass in Super Bowl history, a 80-yard strike to Rod Smith in Super Bowl XXXIII.
- He was the first player in NFL history to pass for over 3,000 yards and rush for over 200 yards in seven consecutive seasons.
- Elway's jersey number 7 was retired by the Denver Broncos in recognition of his contributions to the franchise.
- Off the field, Elway has been involved in various business ventures, including owning car dealerships and a successful steakhouse.
- In addition to his football and business accomplishments, Elway is actively involved in philanthropy, supporting various charitable causes and organizations in the Denver area.
John Elway Net Worth - FAQs
How Did John Elway Accumulate His Wealth?
John Elway accumulated his wealth primarily through his successful career as an NFL quarterback. He played for the Denver Broncos for his entire career, earning substantial salaries and bonuses. After retiring as a player, he continued to build his wealth through various business ventures, including car dealerships and a steakhouse.
What Are Some Of John Elway's Business Ventures?
John Elway has been involved in various business ventures, including owning car dealerships. His ownership in automobile dealerships has been a notable source of income. Additionally, he has been involved in the restaurant industry, co-owning a successful steakhouse.
Is John Elway Involved In Any Philanthropic Activities?
Yes, John Elway is known for his philanthropic efforts. He has been actively involved in supporting charitable causes and organizations in the Denver area. Specific details about his philanthropic activities may vary, so it's advisable to refer to recent sources for the latest information.
Conclusion
In conclusion, John Elway is a former NFL quarterback and successful executive known for his significant contributions to the Denver Broncos. Elway's transition from a star quarterback to a successful executive showcases his versatility and business acumen. Additionally, his philanthropic efforts and involvement in charitable causes highlight a commitment to giving back to the community.
Emily Sanchez
Author
James Pierce
Reviewer
Latest Articles
Popular Articles