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The Denver Broncos have agreed to sell the franchise to current Walmart heir Rob Walton and his family for a record price.
In a statement, Broncos CEO and President Joe Ellis confirmed the sale agreement with Walton, 77, his daughter Carrie Walton-Penner and his son-in-law Greg Penner.
“It was nice to meet Rob Walton, Carrie Walton-Penner and Greg Penner during this process,” Ellis said Tuesday. “By learning more about their origins 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.”
Denver outside midfielder Broncos Von Miller, 58, is battling Los Angeles Rams’ offensive guard Tremain Anchrum, 72, during the first half of an NFL preseason football game in Denver on Saturday, August 28, 2021. (AP Photo / Jack Dempsey)
“I sincerely appreciate the cooperation of our football management, executive team and staff at both the UCHealth Training Center and Empower Field in Mile High over the past few months and years. We also want to celebrate the work of Allen & Company and Proskauer Rose, which guided us through this process in a timely and efficient manner, “he added.
The exact terms of the sale have not been announced, but 9News Denver said Walton will pay $ 4.65 billion for the franchise. That’s more than twice the last selling price for an NFL team and will set a new record for selling an American sports franchise.
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Ellis clarified that the agreement still needs to be approved through NFL protocols by the majority of current owners.
“While this purchase agreement awaits approval from the NFL’s finance committee and league ownership, today marks a significant step toward an exciting new chapter in the history of the Broncos,” he said.
Now the deal must be approved by 24 of the 32 current owners.
Denver Broncos’ new quarterback Russell Wilson, center, is surrounded by head coach Nathaniel Hackett, right, and general manager George Patton after a press conference on Wednesday, March 16, 2022, at the team’s AP headquarters in Englewood, Colorado. Zalubovski)
Walton and Penner shared their own statement, expressing their excitement and thanking Ellis and the Broncos.
“We are thrilled to have chosen to move forward with the purchase of Denver Broncos! Carrie, Greg and I are inspired to be able to run this great organization in a vibrant community full of opportunities and passionate fans,” the family said.
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“After living and working in Colorado, we have always admired the Broncos. Our enthusiasm only grew as we learned more about the Broncos team, staff and country over the past few months,” the statement added.
Denver Broncos and the Walton-Penner family have signed a purchase agreement to acquire the team.
Statements: pic.twitter.com/tMcfuAifeS
– Denver Broncos (@Broncos) June 8, 2022
The statement said Melody Hobson, co-CEO of Ariel Investments, had also agreed to join the ownership group.
“Melody is currently chairman of the board of Starbucks Corporation and also director of JPMorgan Chase. We know that she will bring her strategic flair and leadership point of view to our team, “the statement said.
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“We thank Joe Ellis and the Broncos staff for the first-class way they conducted this sales process. We also thank Hogan Lovells for their guidance and support in this effort, “it added.
Peyton Manning spoke after being inducted into the Denver Broncos Ring of Honor before an NFL football game against the Washington football team on Sunday, October 31, 2021, in Denver. (AP Photo / Jack Dempsey)
And: “We look forward to gaining the trust and support of the NFL as we take the next step in this process. Once the necessary approval procedures are in place, our family is excited to share more with Broncos fans, the organization and the community. “
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The team’s owners are expected to host a meeting next month to discuss the sale, 9News Denver reported.
According to the report, the net worth of Rob Walton varies between 60 and 70 billion dollars.
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