ENGLEWOOD, Colo. (AP) – The Walton family has won the bid to buy the Denver Broncos in the most expensive bid for a worldwide sports franchise.
The Broncos announced Tuesday night that they had signed a sale agreement with the Walton-Penner ownership group led by Walmart heir Rob Walton, her daughter Carrie Walton Penner, and her husband, Greg Penner.
The terms of the sale were not disclosed, but KUSA-TV in Denver reported that it was for $ 4.65 billion.
The price far exceeds the $ 3.1 billion sale last month of Chelsea, one of European football’s blue-collar teams, to a U.S.-led consortium led by Los Angeles Dodgers owner Todd Boehly.
Boehly was among the investors with one of the five finalists being invited to bid by the Broncos before Monday’s deadline.
The agreement for the Walmart-Penner group to buy the Pat Bowlen Trust franchise must be approved by the NFL, but this is considered a formality.
“While this buy-and-sell agreement is pending approval by the NFL Finance Committee and league ownership, today marks an important step on the road to an exciting new chapter in Broncos history. “Team President and CEO Joe Ellis said in a statement.
“I enjoyed meeting Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Ellis said. “By learning more about his background and vision for the Denver Broncos, I’m sure his leadership and support will help this team achieve great things on and off the field.”
Rob Walton said in a statement: “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 manage this great organization in a vibrant community full of opportunities and passionate fans.
“Having lived and worked in Colorado, we have always admired the Broncos. Our enthusiasm has only grown as we have learned more about the team, the staff and the Country Broncos over the past few months, ”added Walton.
Walton said Mellody Hobson, co-CEO of Ariel Investments and president of Starbucks, has agreed to join the ownership group.
Hobson is black. NFL Commissioner Roger Goodell has made minority ownership a highlight in the league.
“Mellody currently serves as chairman of the board of Starbucks Corporation and is also a director of JPMorgan Chase. We know he will bring his strategic insight and leadership perspective to our team,” Walton said.
“We look forward to gaining the trust and support of the NFL as we take the next step in this process. When the necessary approval procedures are completed, our family is happy to share more with Broncos fans. and the community “.
First-year coach Nathaniel Hackett denied it when he was asked on Monday during low-season training if he has kept up with the sales process.
“My job is to prepare the team and teach systems and teach them to come together as a team and improve them in football,” Hackett said. “I know it’s obviously a big, big business. But for us it’s about winning no matter who owns the team, so I’m excited.”
After a first round of bidding, five finalists were invited to tour the team’s facilities and delve into the franchise’s finances. Hackett said he met with most billionaire bidders.
“After talking to everyone, I think everyone has an incredible passion and they want to be part of this league, and they want to be part of a team, and I think that’s a really nice thing,” Hackett said.
“They want to come and win and they want to do something great here. And so, wherever they are, I think we’ll be very grateful.”
The Pat Bowlen Trust has run the franchise for several years and last year put the club up for sale after the children of Pat Bowlen Hall of Fame member could not agree on a successor to his father.
Bowlen died in 2019, a month before joining the Professional Football Hall of Fame.