Denver Broncos Sold to Walmart Heir Rob Walton for a Record $4.65 Billion

by Tyler Mansfield
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The Denver Broncos are being sold – and for a whole lot of money. One of the NFL‘s most storied franchises, the Broncos have played in Denver, Colorado throughout their entire history. Additionally, they’ve had big-name stars such as John Elway and Peyton Manning come through the franchise. Now, Denver is headed into a new era with quarterback Russell Wilson and owner Rob Walton.

Walton, who is the billionaire heir to Walmart, has officially entered into a purchase agreement with the Broncos. Walton, 77, is the son of Sam and Helen Walton and served as Walmart’s chairman from 1992-2015. Now, he’s prepared to take over as the owner of one the NFL’s big-name clubs by paying $4.65 billion.

According to Front Office Sports, that price is a U.S. sports-franchise record deal. The purchase of the Broncos will boost Walton’s net worth to $58 billion, making him the richest owner in the NFL.

Walton Says His Team is ‘Thrilled’ to Own the Broncos

As Rob Walton and his ownership group had to spend quite a bit of money to win the bid for the Broncos, they must’ve really wanted it. As shared by Walton in a statement, he made it clear that his team is excited to lead the franchise into the future.

“We are thrilled to be selected to move forward with the purchase of the Denver Broncos! Carrie, Greg and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans,” Walton said on behalf of the Walter-Penner Family Ownership Group. “Having lived and worked in Colorado, we’ve always admired the Broncos.”

As part of the Walter-Penner Family Ownership Group’s purchase of the Broncos, Mellody Hobson will be joining the team. Hobson is currently the Co-CEO of Ariel Investments, Chair of the Board of Starbucks Corporation and a director of JPMorgan Chase. With her extensive background, Walton is looking forward to having her guidance as they move forward with owning the team.

“Melody is an influential leader in corporate and civic organizations across the nation,” Walton said. “We know she will bring her strategic acumen and leadership perspective to our team.”

Walton Had to Dig Deep to Buy Broncos

It’s not cheap to purchase a professional sports team – by any means. As the Brooklyn Nets sold for $3.3 billion and Chelsea F.C. went for $3.1 billion, Rob Walton had to pay up $4.6 billion to get the Denver Broncos. It’s the highest price ever paid for a sports team. Yes, ever. Just think about that for a minute.

Let me ask you this: If you had $5 billion sitting around, what professional sports team would you buy?

Outsider.com