Walmart heirs complete $4.65BILLION deal to buy the Denver Broncos after NFL owners approved the sale unanimously, in a world-record deal for a sports franchise
- The Denver Broncos sold to a group of Walmart heirs for a price of $4.65 billion
- The sale price is a record for a sports franchise, eclipsing Chelsea ($3.1 billion)
- Rob Walton, 77, is now the NFL’s richest owner with an estimated $60 billion
- Broncos minority owners include former Secretary of State Condoleezza Rice
- Formula One superstar Lewis Hamilton is also among the minority partners
- The Broncos acquired QB Russell Wilson after failing to reach the playoffs again
The Denver Broncos have officially sold to a group of Walmart heirs for a record price of $4.65 billion.
That’s not just an NFL record, but a sports record, eclipsing Steve Cohen’s $2.4 billion purchase of the New York Mets and David Tepper’s $2.3 billion acquisition of the Carolina Panthers.
It even exceeds Todd Boehly’s $5.12 billion acquisition of Chelsea FC because that figure includes investments in the London soccer club’s stadium and donations to charities supported by outgoing owner, Roman Abramovich. In the end, the true sales price was closer to $3 billion, according to multiple reports.
The Walton Penner Ownership Group’s bid was approved by unanimous vote of NFL owners at a meeting on Tuesday, according to NFL commissioner Roger Goodell.
‘We’re just so excited to officially become a part of the Broncos – big, big day for us,’ Rob Walton said during a short press conference.
The Denver Broncos have officially sold to a group of Walmart heirs for a record price of $4.65 billion. Super Bowls during his reign. His trust assumed the ownership after he died in 2019. Rob Walton, 77, is now the NFL’s richest owner thanks to an estimated fortune of nearly $60 billion, according to Bloomberg
The ownership group also includes Walton’s daughter, Carrie (left), and her husband, Greg (right) Penner, who has experience in corporate finance working at Goldman Sachs
A cutout of late Denver Broncos owner Pat Bowlen and cutouts of three Vince Lombardi Trophies are seen in the upper stands of Empower Field at Mile High in the first quarter of a game against the Miami Dolphins on November 22, 2020
HIGHEST TEAM SALES
(Source: Forbes)
The sale officially ends the Bowlen family’s stake in the team after nearly four decades. Pat Bowlen acquired the Broncos in 1984 and the franchise won three Super Bowls during his reign. His trust assumed the ownership after he died in 2019.
Rob Walton, 77, is now the NFL’s richest owner thanks to an estimated fortune of nearly $60 billion, according to Bloomberg. His ownership group also includes his daughter, Carrie, and her husband, Greg Penner, who has experience in corporate finance working at Goldman Sachs.
The Walton heirs take over at a precarious time for the Broncos, who have failed to reach the playoffs in six seasons, but have recently acquired former Super Bowl-winning quarterback Russell Wilson from the Seattle Seahawks
‘Putting a winning team on the field is the No. 1 priority, ‘Walton said om the press conference.
The ownership group also includes minority owners like former Secretary of State Condoleezza Rice and Formula One star, Lewis Hamilton.
Forbes identified other bidders as Josh Harris, who is part of the ownership group of the Philadelphia 76ers and New Jersey Devils; Jose E. Feliciano, one of the founders of Clearlake Capital; and mortgage lender Mat Ishbia.
The ownership group also includes minority owners like former Secretary of State Condoleezza Rice and Formula One star, Lewis Hamilton
Hamilton, 37, who drives for the Mercedes team and whose 103 career victories are the most in F1 history, is the third limited partner brought aboard by the Walton-Penner ownership group.
Goodell has made minority ownership a point of emphasis in the league.
‘Excited to join an incredible group of owners and become a part of the Broncos story!!’ Hamilton tweeted last week. ‘Honored to work with a world class team and serve as an example of the value of more diverse leadership across all sports.’
‘We’re delighted to welcome seven-time Formula One World Champion Sir Lewis Hamilton to our ownership group,’ Walton said in a statement. ‘He is a champion competitor who knows what it takes to lead a winning team and a fierce advocate for global equality, including in his own sport.
‘With over 100 race wins, Lewis is considered the most successful F1 driver of all time,’ Walton added. ‘His resilient spirit and standard of excellence will be an asset to the ownership group and the Broncos organization.’
Hamilton shared his excitement at joining the Broncos team by posting on his Twitter profile
Source: Read Full Article
