Group led by Walmart heir Rob Walton agrees to buy Broncos for $4.65 billion

Washington Post

06-08-2022

Placeholder while article actions loadAn ownership group led by Walmart heir Rob Walton reached an agreement to purchase the Denver Broncos for $4.65 billion, shattering the previous record sale price for an NFL franchise. Statements: pic.twitter.com/tMcfuAifeS — Denver Broncos (@Broncos) June 8, 2022Walton announced that Mellody Hobson, the co-CEO of Ariel Investments, had agreed to join his ownership group. NFL owners approved a resolution in March endorsing diversity in franchise ownership. Forbes, in its annual estimates of NFL franchise values, in August pegged the worth of the Broncos at $3.75 billion, 10th-highest in the league. “I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Ellis said.

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CBS SPORTS - Walmart heir expected to win bidding for Broncos, plus a former MVP could be first QB to lose to every team
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It appears Walmart heir Rob Walton is going to purchase the team for $4.5 billion, which is $4,499,999,712 more than I bid. Walmart heir expected to purchase Broncos for $4.5 billionFor the first time since 1984, the Denver Broncos are going to have a new owner. The Broncos selling price would also double the price of the most expensive NFL team ever sold, which came in 2018 when David Tepper bought the Carolina Panthers for $2.275 billion. The Broncos selling price would also double the price of the most expensive NFL team ever sold, which came in 2018 when David Tepper bought the Carolina Panthers for $2.275 billion. If the Jags and Raiders both beat the Colts, Ryan would become the first QB to lose to 31 different teams.

AOL - Broncos announce sale to Walton-Penner group for a reported record $4.65 billion
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The Walmart family is officially taking over the Denver Broncos. The Broncos entered into a sale agreement with the Walton-Penner family ownership group, the franchise announced Tuesday night. 9News' Mike Klis reported that the deal was for $4.65 billion, a record for an American sports team. The Denver Broncos and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team. Statements: pic.twitter.com/tMcfuAifeS — Denver Broncos (@Broncos) June 8, 2022“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Broncos president and CEO Joe Ellis said in a statement, in part.

MARKET WATCH - Walmart heir Rob Walton to buy Denver Broncos for a record-setting $4.6 billion
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Walmart WMT, -0.80% heir Rob Walton has won the bidding for the NFL’s Denver Broncos franchise for $4.6 billion, the most expensive team sale for any sports franchise in history, according to ESPN’s Adam Schefter. The Broncos announced late Tuesday night that they had entered into a sale agreement with the Walton-Penner ownership group led by Rob Walton, his daughter, Carrie Walton Penner, and her husband, Greg Penner. Rob Walton will serve as the controlling owner of the Broncos, but Greg and Carrie Penner will reside over day-to-day operations of the team, according to local Broncos reporter Mike Klis. See also: How a millionaire outbid a billionaire to buy the Golden State Warriors in 2010“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Ellis said. Kroenke himself is not affiliated with this Denver Broncos team sale in any way, as Kroenke also owns the NFL’s Los Angeles Rams and owners are not permitted to own multiple teams within the same league.

USA TODAY - Denver Broncos to be sold to Walmart heir Rob Walton for record $4.65 billion, per report
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Financial terms were not immediately disclosed, but 9News in Denver reported that Walton will pay $4.65 billion for the franchise, more than double the most recent sale price for an NFL team. "We are thrilled to be moving forward with the purchase of the Denver Broncos," Walton said in a statement released by the team. " Mellody Hobson, the co-CEO of Ariel Investments and chair of the board for Starbucks, is joining the ownership group, Walton said in the news release announcing the deal. Other potential candidates for small slices of the ownership group include franchise luminaries John Elway and Peyton Manning. Tepper, by Forbes’ estimate worth more than $16 billion, held the title of richest NFL owner but will be roughly quadrupled by Walton.