No risk.. no reward.
Years ago, former Denver Broncos quarterback was offered a sweet business deal by his franchise. The details were clean, but he passed on the opportunity.
20 years later, Elway is still kicking himself on passing on this incredible, life changing opportunity.
The deal: Denver Broncos owner Pat Bowlen would give Elway the right to buy 10 percent of the Broncos for $15 million. Bowlen would also give him the option to buy another 10 percent of the franchise by forgoing the deferred salary Bowlen owed him on the condition Elway would become a special assistant to Bowlen, which would eventually lead to a COO job. That total deferred salary? About $21 million.
But there was even more that made the deal a no-lose proposition. If Elway wasn't happy with his investment, he could sell back his interest, two to five years later, for $5 million more than his original purchase price plus 8 percent interest a year. Basically free money.
Today, Elway is a paid employee of the team with no stake in the franchise. The 20 percent stake he passed on, based on a Forbes 2015 valuation of the team at $1.94 billion, is now worth $388 million.
So basically Elway could've flipped 21 million into close to 400 million in 15 years.
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