The NFL’s Denver Broncos have agreed to sell the team to a Walmart heir and the Walton-Penner family
Cameron Fleming #73, Denver Broncos, runs onto the field prior to a match against the Kansas City Chiefs at Empower Field @ Mile High on January 8, 2022 Denver.
Dustin Bradford | Getty Images
According to both sides, the Walton Penner family and the Denver Broncos entered into an agreement of purchase and sale for the acquisition of the National Football League (NFL) team.
Walton-Penner Family, led by WalmartRob Walton, the patriarch, will purchase the Broncos from Pat Bowlen trust in an agreement reportedly valued at $4.65 billion. It is the largest ever for an American sporting franchise.
We are delighted to have been selected to proceed with the Denver Broncos purchase! Walton released a statement on Tuesday night.
“Carrie Walton-Penner, Greg Penner and I were inspired by the chance to manage this amazing organisation in an active community of passionate supporters.”
Rob Walton addresses the shareholders at Walmart’s annual meeting in Fayetteville on June 1, 2018. The shareholder week gathers thousands of associates and shareholders around the world for a meeting at the global headquarters.
Rick T. Wilking | Getty Images
Approval from both the finance committee of NFL and ownership will be required for this purchase.
Joe Ellis, Broncos president and CEO, said that he had learned more about Ellis’ family and the vision of the Denver Broncos. He is confident their support and leadership will allow the team to achieve great success on the field.
“Today is a major step in the Broncos’ history.”
Bowlen purchased the Broncos from them in 1984. The Broncos won three Super Bowls under his rule. Bowlen’s estate assumed ownership in 2019 when Bowlen passed away.