Walmart buys NFL Denver Broncos in a cool $4.6 billion deal

Courtesy Denver Broncos Instagram

Sources said that a sale agreement had been reached between the Denver Broncos and scions of the Walmart family. The Walton-Penner family ownership group is said to have acquired the NFL team, according to an announcement, on Tuesday. The group includes Walmart heir Rob Walton, his daughter Carrie Walton Penner and Greg Penner, who is her husband.

In a statement, Walton said that that they were “thrilled to be selected to move forward with the purchase of the Denver Broncos.” He added that he, his daughter and son-in-law were “inspired by this opportunity to steward” the Broncos which he described to be a great organization and said that the community was “full of opportunity” and had “passionate fans.”

The heir of Walmart also added that they (Carrie, Greg and he) had always admired the Denver team as they had lived and worked in Colorado. He declared that their enthusiasm had grown further as they learned more about the team, the staff as well as Broncos Country, in the past few months.

The group also has other members such as Melody Hobson. She is the co-CEO of Ariel Investments. She is the chair of Starbucks Corp. board. She is also a director at JP Morgan Chase. The sale agreement between the Walton-Penner Group and the Denver Broncos requires approval via a full vote of NFL owners, with twenty four yes votes.

ESPN reports that the sale price of the NFL team was $4.6 billion. This is a record price for a North American sports franchise. It also said that no issues were expected and the deal would get approval within two to three months.

The sale agreement between the Walton-Penner group and the Denver Broncos adds five professional sports teams to the Walton-Kroenke family. There are six professional sports franchises in the Centennial State. Stan Kroenke, who is Walton’s cousin by marriage, already owns four sports franchises in Colorado which include the following:
Denver Nuggets
Colorado Avalanche
Colorado Rapids
Colorado Mammoth.

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