(Photo by Dustin Bradford/Getty Images)
The Waltons, heirs to the Walmart company and America’s wealthiest family, have won the bid to buy the Denver Broncos in the world’s most costly sports deal.
The Broncos announced late Tuesday night that they had agreed to sell the team to the Walton-Penner ownership group, including Rob Walton, his daughter Carrie Walton Penner, and her husband, Greg Penner. The sale price was not announced; however, it was rumored to be $4.65 billion by Denver’s KUSA-TV.
Chelsea, one of Europe’s top soccer clubs, was sold for $3.1 billion last month to an American-led group led by Todd Boehly, a part-owner of the Los Angeles Dodgers. According to reports, Boehly was one of the five contenders invited to submit a bid for the Broncos before the deadline on Monday.
The NFL must ratify the arrangement for the Walmart-Penner consortium to buy the Pat Bowlen Trust’s franchise, although this is a formality.
“We are ecstatic to be selected to proceed with the purchase of the Denver Broncos!” stated Rob Walton in a statement. Carrie, Greg, and I are energized by the prospect of leading an outstanding organization in a thriving town brimming with opportunities and devoted supporters.
Mellody Hobson, co-CEO of Ariel Investments and Starbucks chairwoman, has agreed to join the group, according to Walton. Hobson is a member of the African-American community. Minority ownership has become a focal issue for NFL commissioner Roger Goodell.
“Mellody is now the Chair of Starbucks Corporation’s Board of Directors and a director of JPMorgan Chase. “We are certain that she will contribute to our team with her strategic thinking and leadership perspective,” Walton said.
From 1992 to 2015, Walton, 77, served as chairman of Walmart, the world’s largest retailer. He has a net worth of approximately $60 billion and is the eldest son of Sam and Helen Walton, the company’s founders.
When asked if he’s kept up with the sale process, first-year coach Nathaniel Hackett shrugged. Who owns the team, according to Hackett, is less important than getting the squad to compete and perform at its best. He did express his delight at the new ownership, however.
Five finalists were asked to view the team’s facilities and dig deeper into the franchise’s finances after the first round of bidding. Most of the billionaire bidders, according to Hackett, were met.
“They want to come here to win and do something amazing.” So I think we’ll be grateful wherever it is.”
After Hall of Famer Pat Bowlen’s children couldn’t agree on a successor to their father, the Pat Bowlen Trust took over the franchise and placed it up for sale last year.
Bowlen died a month before being inducted into the Pro Football Hall of Fame in 2019.
