The Denver Broncos are officially up for sale and will likely have the biggest price tag in North American sports history.

The team is valued at just under $4 billion.

Steve Cohen paid $2.4 billion in 2020 for the New York Mets, the highest price paid for a North American sports franchise.

In a statement, Broncos CEO Joe Ellis said: "The Pat Bowlen Trust announced today the beginning of a sale process for the Denver Broncos. We have retained Steve Greenberg of Allen & Company as our financial advisor and Joe Leccese of Proskauer Rose LLP as our legal advisor for this transition of ownership.

"Selling an NFL team is a complex process involving numerous parties and league approval procedures. Nonetheless, the trustees hope to have the sale completed by the start of the 2022 NFL season.

"The Broncos are a special franchise that is part of the fabric of this region, and whoever emerges as the new owner will certainly understand what the team means to our great fans and this community."