The Denver Broncos have entered into a sale agreement with the Walton-Penner ownership group.
FILE - Walmart Chairman Rob Walton speaks at the company shareholders meeting in Fayetteville, Ark., June 5, 2015. The Walton family has won the bidding to purchase the Denver Broncos in the most expensive deal for a sports franchise anywhere in the world. The Broncos announced late Tuesday night, June 7, 2022, that they had entered into a sale agreement with the Walton-Penner ownership group led by Walmart heir Rob Walton, his daughter, Carrie Walton Penner, and her husband, Greg Penner.
The agreement for the Walmart-Penner group to buy the franchise from the Pat Bowlen Trust must be approved by the NFL, but that is considered a formality.“While this purchase and sale agreement is pending approval from the NFL’s finance committee and league ownership, today marks a significant step on the path to an exciting new chapter in Broncos history,” team president and CEO Joe Ellis 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 last few months,” Walton added.Walton said Mellody Hobson, co-CEO of Ariel Investments and chairwoman of Starbucks, has agreed to join the ownership group.
"We look forward to earning the confidence and support of the NFL as we take the next step in this process. When the necessary approval procedures are met, our family is excited to share more with Broncos fans, the organization and the community.”
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