The Denver Broncos have entered a sale agreement with the Walton-Penner family ownership group, led by Walmart heir Rob Walton, as part of a reported record-setting deal to purchase the NFL franchise.
The Broncos confirmed the acquisition in a statement shared by team president and CEO Joe Ellis.
“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,” Ellis said.
The winning bid is valued at $4.65 billion, the most expensive price ever paid for a U.S. sports team, more than doubling the $2.275 paid by David Tepper to acquire the Carolina Panthers in 2018.
The Walton-Penner group is led by Walton, his daughter, Carrie, and his son-in-law, Greg Penner.