Denver Broncos announce sale agreement with Walton-Penner family

The Denver Broncos announced Tuesday night that they have entered a sale agreement with the Walton-Penner family, which is led by former Walmart chairman Rob Walton. The deal remains subject to approval from the NFL finance committee and league ownership, as well as a review of customary closing procedures.

ESPN’s Adam Schefter also reports that Walton’s ownership group will become the newest NFL owners with a record bid of $4.65 billion, although it could take 60-90 days for the deal to officially conclude. Previously, the sale of the Carolina Panthers to David Tepper for $2.275 billion set the NFL record its the deal.

Walton has an estimated net worth of $59.1 billion, per Forbes, which makes him the 22nd-richest person in the world. Additionally, the 77-year-old is the eldest son of Walmart founder Sam Walton. He will also become the richest Arkansas alum to own an NFL franchise, surpassing Dallas Cowboys owner Jerry Jones.

Denver Broncos release statement on sale

Denver Broncos President and CEO Joe Ellis issued a statement on the sale of the franchise to the Walton-Penner family, expressing great optimism about the future.

“I have enjoted getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” the statement reads. “Learning more about their background and vision for the Denver Broncos, I am confident that their leadership on and off the field. I sincerely appreciate the cooperation of our football leadership, executive team and staffs at both UCHealth Training Center and Empower Field at Mile High over the last few months and years. We also want to recognize the work of Allen & Company and Proskauer Rose, which have guided us through this process in a timely and efficient manner. While this purchase and sale agreement is pending approval from the NFL’s finance committee and league ownership, today marks a significant step on the path to an exciting new chapter in Broncos history.”