Rob Walton, one of the Walmart heirs and former chairman of the largest retailer in the world, is reportedly making a bid for the National Football League’s (NFL) Denver Broncos. The league had reportedly being asking Robert F. Smith to become the owner, as it has been accused of not doing enough to promote diversity at high levels. While a majority of players are black, there isn’t a single black owner of an NFL team, as yet.
In an exclusive, the New York Post reported that Rob Walton is the favorite to buy the Broncos. According to the outlet he will submit a bid for the team that would cross $4 billion. This will be the highest ever amount offered for a team, according to sources. Josh Harris, the founder of Apollo Global Management and the owner of the Philadelphia 76ers might also submit a bid, according to sources.
A source who is familiar with the matter said that Friday is the deadline set by the Denver Broncos to open bids, The source also mentioned that offers that cross $4 billion or more would be accepted. The source, who is close to the process told the Post, “A bid needs to have a four in front of it.” Insiders estimate that the final price for the Denver Broncos will be between $4.5 billion to $5 billion.
(Photo Credit: Denver Broncos)
Rob Walton has a net worth of $70 billion or more, according to Forbes. The 77-year old Walmart scion’s cousin Ann is married to Stan Kroenke, who is the owner of the Los Angeles Rams, the Super Bowl winners.
Rob Walton is the eldest son of the late Sam Walton, who is a retail legend in the nation, while Ann is the daughter of Sam’s brother Budd. Rob Walton served as the Chairman of Walmart from 1992 to 2015.
When asked for comment, there was no response from reps of the Waltons, the NFL and the Broncos.