After a long process, the Denver Broncos announced late Tuesday night that they have “entered into a sale agreement” that will reportedly make history.
The Walton-Penner group, led by Walmart heirs Rob Walton, his daughter Carrie Walton Penner and her husband, Greg Penner, are on track to buy the franchise for $4.65 billion, multiple outlets reported.
The deal is still subject to review and approval by the NFL’s finance committee and the other team owners, but assuming it goes through, it will be the biggest price tag ever paid for a team in North America, numerous outlets reported.
The process of the sale began back in 2014 after owner Pat Bowlen was diagnosed with Alzheimer’s disease, ESPN’s Jeff Legwold reported, and was formally put up for sale in February of this year (Bowlen died in 2019).
The Denver Broncos and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team.— Denver Broncos (@Broncos) June 8, 2022
“We are thrilled to be selected to move forward with the purchase of the Denver Broncos!,” Rob Walton said in a written statement.
“Carrie, Greg and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans.”
Broncos president and CEO Joe Ellis said in a written statement, “I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process.
“Learning more about their 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.”