Walmart Heir is Buying the NF Denver Broncos

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The NFL’s Denver Broncos have agreed to sell the team to the Walton-Penner family, led by Walmart heir Rob Walton.

Both parties have entered into a purchase and sale agreement for the takeover of the team.

The family will acquire the Broncos from the Pat Bowlen Trust in a deal reportedly worth $4.65 billion, which is 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 on Tuesday.

“Carrie (Walton Penner), Greg (Penner) and I are inspired by the opportunity to steward this great organisation in a vibrant community full of opportunity and passionate fans.”

The purchase will need approval from the NFL’s finance committee as well as league ownership.

“Learning more about the (family’s) background 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,” remarked Broncos CEO and president Joe Ellis.

“Today marks a significant step on the path to an exciting new chapter in Broncos history.”

Patrick Dennis Bowlen was a Canadian–American lawyer, executive and the majority owner of the Denver Broncos of the National Football League winning 3 Super Bowls. He was inducted in the Pro Football Hall of Fame for the class of 2019.

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.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.