Walmart Boss Acquires Broncos For US$4.65 Billion
Rob Walton, heir of Walmart and the Walton Penner Ownership Group, has acquired National Football League (NFL) franchise, the Denver Broncos, for a record US$4.65 billion (AUD$6.49 billion).
According to ESPN, the US$4.65 billion price tag has been confirmed by multiple sources, making the sale the largest in North American sports franchise history, surpassing Steven Cohen’s US$2.475 billion purchase of the New York Mets in 2020.
The Walton Penner group consists of Rob Walton, Carrie Walton Penner, Greg Penner, and new addition Melody Hobson, co-CEO of Ariel Investment, head of Starbucks corporate board and director at JP Morgan Chase.
Walton, with an estimated net worth of US$59 billion (AUD$69.7 billion), said the Walton Penner group is excited to share more information with Broncos fans when approval procedures are met.
“We are thrilled to be selected to move forward with the purchase of the Denver Broncos,” Walton said.
“Carrie, Greg and I are inspired by the opportunity to steward this great organisation in a vibrant community full of opportunity and passionate fans.
“Thank you to Joe Ellis and the staff of the Broncos for the first-class manner in which they have conducted this sale process,” he said.
Although pending approval from the NFL’s finance committee, Joe Ellis, CEO and president of Denver Broncos said the announcement is a significant new chapter in Bronco’s history.
“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Ellis said.
“Learning more about their background and vision for the Denver Broncos, I am confident that their leadership and support will help this team achieve great things on and off the field,” he said.
Pat Bowlen’s trust has been running the Denver Broncos since his death in 2019 after the late lawyer bought the franchise for US$78 million (AU$108 million) in 1984, where he saw the franchise win three Super Bowls.
The announcement comes two days after Forbes reported the bid was worth US$4.5 billion (AUD$6.27 billion).
