John Bowlen has agreed to sell a portion of his minority stake in the franchise back to the Denver Broncos.

He is the brother of majority owner Pat Bowlen.

The Broncos released the below statement:

"This transaction further consolidates Pat Bowlen's majority, controlling ownership interest in the Broncos while keeping 100 percent of the team in the Bowlen family. The acquisition of this share is independent of Mr. Bowlen's succession plan that is being administered by the Pat Bowlen Trust.

"John has been a great partner for many years, and we are very pleased he will remain a minority owner of the Denver Broncos."

The Broncos didn't announce how much of John Bowlen's stake they will purchase or how much they've agreed to pay for it.