Walmart is ready to score…. touchdowns!
The Denver Broncos and the Walton-Penner family are going through a purchasing and sale agreement for the takeover of the National Football League team, both parties announced.
Led by Walmart heir Rob Walton, the Walton-Penner family will acquire the Broncos from the Pat Bowlen Trust in a deal worth $4.65 billion, as reported by 9News in Denver. This is more than double the most recent sale price for an NFL team and also a record for an American sports franchise.
“We are thrilled to be selected to move forward with the purchase of the Denver Broncos!” Walton said in a statement. “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 past few months.”
The purchase will still need approval from the NFL’s finance committee and league ownership.
“I am confident that their leadership and support will help this team achieve great things on and off the field,” said Broncos CEO Joe Ellis.
Pat Bowlen acquired the Broncos in 1984 and the franchise won three Super Bowls during his reign. Bowlen’s trust assumed the ownership after he died in 2019.
Walton has a net worth that Forbes estimates at $65 billion, which will make him the wealthiest NFL owner.