Broncos Agree to Record Sale to Group Led by Walmart Heir, per Report

Rob Walton is the billionaire heir to superstore chain Walmart and is related to current Rams owner Stan Kroenke through marriage.

The Broncos announced Tuesday night that Rob Walton, Carrie Walton Penner and Greg Penner have reached a purchase agreement to take majority ownership of the team.

The official sale amount has not been released, though 9News in Denver reports that the sale price is a U.S. sports franchise record of $4.65 billion.

Walton is the billionaire heir to superstore chain Walmart after his father created the Arkansas-based business. He is worth around $70.5 billion, according to Forbes.

“We are thrilled to be selected to move forward with the purchase of the Denver Broncos!” Walton said, via a statement. “Carrie, Greg and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans.”

Broncos president and CEO Joe Ellis noted in his statement that the sale is still pending approval from the NFL’s financial committee and league ownership.

Ellis and Walton’s full statements can be read here:

The Denver Broncos and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team.

Statements: pic.twitter.com/tMcfuAifeS

— Denver Broncos (@Broncos) June 8, 2022

Walton, coincidentally, is related to Rams owner Stan Kroenke through marriage. Walton’s cousin is Kroenke’s wife, Ann. Unlike Kroenke, who has ownership stakes in a number of teams, Walton has not previously owned a professional sports franchise.

The previous Broncos owner, Pat Bowlen, died in 2019. The Pat Bowlen Trust then took over ownership of the team, until it announced in February of this year that the team would be put up for sale.