Bill Bowlen, Brother of Denver Broncos Owner Pat Bowlen, Asks Court to Remove Trustees as Agents of Pat Bowlen

DENVER, Oct. 25, 2018 /PRNewswire/ -- William "Bill" Bowlen, brother of legendary Denver Broncos owner Pat Bowlen, asked a Colorado District Court on Thursday to remove Richard Slivka, Mary Kelly and Josiah Ellis as agents of Pat Bowlen and of his power of attorney, due to their failure to uphold Pat Bowlen's wishes and act in the best interest of Pat Bowlen, his family and the Broncos.

Mr. Slivka, Mr. Ellis and Ms. Kelly, who are trustees of the Pat D. Bowlen Trust, have conflicts of interest that impair their ability to act impartially in Pat Bowlen's best interest, according to the petition, filed Thursday with the Arapahoe County District Court in Centennial, Colo.

As agents of Pat Bowlen's trust, the three defendants wield almost total control over the Broncos and a range of Pat Bowlen's other assets, including interests in several closely held businesses, with no accountability, Bill Bowlen said.

"I am a huge fan of the Broncos, and have been for decades. Unfortunately, over the past 15 years, I've noticed that the operation of the Broncos has deteriorated, while my brother's health has worsened," Bill Bowlen said Thursday.

"I have real concerns with these trustees, their conduct and how they got to the positions they are in. They have little or no accountability to anybody but themselves. They have not complied with the rules of the NFL and I am uncomfortable with the way they have handled my brother's affairs. I know what his wishes were, and these individuals are definitely not following them," Bill Bowlen said.

The three trustees have refused to implement a long-term succession plan that adheres to Pat Bowlen's long-stated goal of ensuring that his children, as owners of the Denver Broncos Football Club, retain management and control of the team. Instead, the current trustees have done everything they can to delay Pat Bowlen's children from assuming management and control of the team, in violation of their fiduciary duties, Bill Bowlen said.

Worst of all, Bill Bowlen said he believes that his brother Pat, who has suffered for more than a decade from Alzheimer's disease, did not fully understand the nature of the documents he signed that made major changes to his estate planning and created the fiduciary positions with broad powers that the three trustees currently hold.

Bill Bowlen said that he does not stand to gain financially or otherwise from the petition, and that his goal is to help and support his brother Pat, Pat's family and the Broncos.

Giovanni Ruscitti and Scott Robinson of Berg Hill Greenleaf Ruscitti LLP in Boulder are representing Bill Bowlen in the matter.

To ensure the best outcome for the Denver Broncos and the Bowlen family, Bill Bowlen has asked the court to:

• Remove Mr. Slivka, Mr. Ellis and Ms. Kelly as agents of Pat Bowlen
• Appoint an independent party to serve as conservator of Pat Bowlen's estate, with the power to remove the trustees of the Pat D. Bowlen Trust and exercise other powers of Pat Bowlen retained in the trust.

Pat Bowlen, who is 74 and suffering from Alzheimer's disease, is not capable of revoking the powers of attorney and the authority currently held by Mr. Slivka, Mr. Ellis and Ms. Kelly.

Pat Bowlen indirectly owns about 76% of the ownership interest in the Denver Broncos team, and his brother John Bowlen owns the remaining interest in the team, according to the petition. Bill Bowlen owned a stake in the team for 18 years, and sold his share to his brother Pat in 2002.

Pat Bowlen told Bill Bowlen and other family members and advisors on many occasions that he wanted one of his seven children to become controlling owner of the team when he was no longer able to serve in this critical position, Bill Bowlen said.

The Broncos team is owned by PDB Sports, Ltd., a Colorado limited partnership. Controlling ownership of PDB, Ltd. is held in Bowlen Sports, Inc., an Arizona corporation that is owned by Patrick Bowlen and his brother John Bowlen. Pat Bowlen's ownership interest in Bowlen Sports is held through his trust, the Patrick D. Bowlen Trust, under a March 6, 2009 agreement, according to the petition.

Mr. Ellis and Mr. Slivka are directors and officers of Bowlen Sports.

Contact:
Cassandra Sweet
Singer Associates Inc.
415-227-9700 x117
[email protected]

SOURCE Bill Bowlen