Denver Broncos Sold To Walmart Heir Group For $4.65B, Record For A NFL Franchise
Wednesday, June 8, 2022 at 07:13PM By Barry Janoff
June 8, 2022: The NFL Denver Broncos have had a busy and productive off-season, acquiring All-Pro quarterback Russell Wilson from the Seattle Seahawks and now landing a new owner.
The Broncos today said Rob Walton and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team from the Pat Bowlen Trust.
Financial terms were not released but were put at $4.65 billion by industry analysts, which would be a new record for a NFL franchise.
The agreement is subject to approval from the NFL's finance committee and by 24 of the NFL's 32 owners, as well as the “satisfaction of customary closing procedures.”
The Broncos are valued at $3.7 billion, according to Forbes, tenth in the NFL.
"While this purchase and sale agreement is pending approval from the NFL's finance committee and league ownership, today marks a significant step on the path to an exciting new chapter in Broncos history,” Joe Ellis, Broncos president and CEO, said via the team.
The $4.65 billion tops the previous record for a NFL team acquisition, $2.3 billion in 2018 by David Tepper for the Carolina Panthers, according to Forbes.
It also tops the previous record for any North American sports franchise acquisition, $2.475 billion in 2020 by Steven Cohen for the New York Mets.
It is second globally behind the $5 billion-plus paid for the Premier League’s Chelsea FC last month by a group led by Todd Boehly, who also is among the owners of the Los Angeles Dodgers and Lakers.
Boehly was also among the final bidders for the Broncos.
Walton, the son of Walmart founder Sam Walton, is worth an estimated $58.2 billion and upon approval becomes the richest owner in the NFL, according to Forbes.
The Top Five richest NFL majority owners currently include Tepper, Carolina Panthers ($16.7 billion); Jerry Jones, Dallas Cowboys ($12.8 billion); Stan Kroenke, Los Angeles Rams ($10.7 billion); Robert Kraft, New England Patriots ($8.3 billion); and Stephen Ross, Miami Dolphins ($8.2 billion).
"We are thrilled to be selected to move forward with the purchase of the Denver Broncos,” Rob Walton said via the Walton said via the Walton-Penner Family Ownership Group. “(We) are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans.
"Having lived and worked in Colorado, we've always admired the Broncos. Our enthusiasm has only grown as we've learned more about the team, staff and Broncos Country over the last few months.”
The Walton-Penner group also includes Rob Walton’s daughter, Carrie Walton Penne, and her husband, Greg Penner.
Walton said today that Mellody Hobson, co-CEO of Ariel Investments, has agreed to join the ownership group.
Others among the final bidders for the Broncos included a group led by private equity investor Josh Harris, who is the principal owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils.
The Broncos play in Empower Field at Mile High Stadium.
Back to Home Page