The second round of bids for the Denver Broncos came through, and the long-rumored frontrunner remained ahead in the race. Rob Walton‘s group submitted a $4.65 billion bid to buy the AFC West franchise, Mike Klis of 9News reports. The group enters a sales agreement, one expected to lead to the Broncos having new owners ahead of the 2022 season.
That price not only shatters the NFL record — one David Tepper set when he bought the Carolina Panthers for $2.3 billion in 2018 — but breaks the American sports record by more than $2 billion. Walton, his daughter Carrie Walton Penner and son-in-law Greg Penner — all Walmart family heirs — will take over a Broncos franchise that had been in Pat Bowlen‘s family from 1984 until it went on the market in February. Although the Broncos have been run by the Pat Bowlen Trust for years, disagreements among the late owner’s children led to the team going up for sale.
Walton’s group beat out the Josh Harris– and Magic Johnson-fronted contingent, along with those headed by Mat and Justin Ishbia and Jose Feliciano, respectively. All four finalists submitted bids Monday, but Walton’s — unsurprisingly, as his approximately $70 billion net worth puts him in line to become the NFL’s richest owner — won out. Walton’s net worth more than triples Tepper’s. The Panthers owner’s $16.7 billion worth currently leads the league. Rob Walton, 77, is the oldest son of the late Walmart founder, Sam Walton.
“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Broncos CEO and president Joe Ellis said in a statement. “Learning more about their background and vision for the Denver Broncos, I am confident that their leadership and support will help this team achieve great things on and off the field.”
This transaction’s next step will be an NFL finance committee review. A three-fourths approval among other owners will greenlight Walton’s transition to becoming the Broncos’ next owner. Tepper’s Panthers purchase garnered a 32-0 vote. Walton’s acquisition is not expected to be met with resistance. A special convening between NFL owners is expected to take place in July, Klis notes. Walton appears set to be the Broncos’ controlling owner. But his daughter and son-in-law, along with Arial Investments co-CEO Mellody Hobson, will play roles.
All four ownership groups reached out to Peyton Manning, who had expressed interest in being part of the franchise’s next group. John Elway had as well. It is unclear as of Tuesday night if the Hall of Fame quarterbacks will move forward with a Walton-run franchise. Elway, the team’s GM from 2011-20, currently serves as a consultant to GM George Paton.
Hopefully he doesn’t run it like his longtime employee Skin Flint Glass did when he owned the Royals.
Peanuts!
Remember, if you work hard and go to school and save your money…
ONE DAY
…YOU might be able to…
…buy a ticket to a Broncos game and pay $20 for a beer and put a few more bucks in the pocket of a guy whose daddy gave him billions…tax free…
…while YOUR tax dollars pay for the roads and sewers at the stadium.
What’s your point? Walton pays taxes too. Walton worked hard too. Are you suggesting we steal from some and give to others…like the government already does. Half the county pays zero income taxes (effectively) and yet 99.9% of the country lives like kings compared to most of the world. Stop complaining. If you’re unhappy with your own life, do something about it.
“Walton worked hard too”
Not dying before his dad was back breaking.
Oh, you’re so clever. I hope you apply the same logic to anything your parents left or will leave you.
Moved off that “(he) worked hard, too” position pretty quickly.
You also moved off that “waaahhhh!!! my taxes!!!” position pretty quickly as well.
If you are new to these boards, and unfamiliar with forwhomjoshbelltolled, he is a victim. Life is not fair. He constantly whines and cries, and has his hand out. It’s sad, and pathetic, but funny.
Says the people licking boots saying “asking rich people to ever pay taxes isn’t fair.”
I’m not a victim, never claimed to be. I’m doing fine.
I’m just not a bootlicking chump who thinks that people who aren’t doing fine are “whiners” and that the REAL victims are the poor put upon rich people, who you tongue bathe on a daily basis.
You are a miserable little turd aren’t you. Go ahead make this political and personal from nowhere.
No and OK.
I see that my comments…and the constant taste of boot on your tongue…have triggered you.
So sorry, Flake of Snow.
Stick up for poor Rob Walton, he needs your help. No one should ever talk bad about him. Or anyone like him.
Obey your training.
forwhomjoshbelltolled seems to have quite an obsession and expertise on “licking”, “tongues” and ball-sacks… Obey your “training” indeed, man.
I said boots, what made you substitute “ball-sacks”, Dr. Freud?
“Rich sack” this, “Rich sack” that. He’s probably referring to your tendency of using the word ‘sack’ to ridicule male Fortune-500 CEO’s
Those poor male Fortune-500 CEO’s.
Luckily, they have you to protect them and their feelings.
Unless his daddy died the same year that Ted Kennedy did when the estate tax had lapsed, then yes the estate was taxed.
Rich.
Finally, self-check-outs at every concession stand!
Or, they close every concession stand except one right before you get in line.
Buy 20 tickets and save $2.
“Walton’s acquisition is not expected to be met with resistance.”
Until the owners discover he wants to move the team to Arkansas.
Every Walmart you go to will have Denver Broncos gear in it now. It won’t be just city based.
We have to put up with cowgril stuff what will a bit more ugly orange matter.
So now the NFL can move on to the next big sale, as there are 2 or 3 other teams looking to replace ancient/troublesome owners and you can’t have them all on the market at the same time.
Seahawks – due to Paul Allen’s Estate Requirements
Commanders – due to dumpster fire owner
Lions – please, please, please, please, please
I also heard the Chicago Bears – as their owner (Virginia Halas McCaskey) is now 98 years old.
Chargers apparently got some ish going on too.
The Walton family paid their employees like trash for many years til it became a national story. They’re perfect for the NFL. Rich, entitled and obvious to their fanbase.
They’re also oblivious (just teasing, I knew what you meant).
And despite Walmart being the single biggest driver of US manufacturing to China, the “I hate Chyna!!!” people will defend it and the Waltons because they have been conditioned to lick rich boots, no matter what.
Monkey! Thank you! Just love spellcheck so much : /
Will Broncos fans start showing up on “People of Walmart”?
They already do.
*wakka wakka*
Judging by a certain Communist in the comment section, apparently having a Bachelor of Science degree in Business Administration, a J.D. from Columbia School of Law in New York City, working for a Walmart law firm, and actually isn’t the richest Walton family member alive despite being the former chairman is deemed “entitled”… Nice!
Lol, he earned his billions by getting a bachelors degree and a law degree?
As if he got into Columbia totally on his own merit and not his last name! I don’t know if he’s smart and good as his job, I didn’t really care. But to ignore the leg up his family fortune got him is insane.
Yeah, and Lori Loughlin’s kids got into the colleges of their choice solely based on their own merits…..
I bet that if someone was able to look, there were some sizable donations to Columbia from a person, company, trust, foundation tied to the WALTON family PRIOR TO and DURING Robbie’s “EDUCATION” there. But WE will never know because when you control THAT MUCH MONEY, the POWER that goes with it has you/your family placed ABOVE THE LAW.
Did you really cite “working for a Walmart law firm” as a way of proving your point and not mine…?
“Rich sack tastes yummy and I will mindlessly lick it, I don’t care what the “communists” say!!!”
forwhomjoshbelltolled really likes to talk about licking… weird dude.
Yes, which is “weird”…
A) my analogy about your fealty and utter obedience to serving the interests of the people who own you and your eagerness for it…which quite clearly hit the mark.
B) you being so very very very very butt hurt about it that you are reduced to this, whatever this is.
You seem a little triggered there, Champ. You gonna be OK?
@steinbrenner
Your comment was a fail Bruh. Can’t believe you are trying to defend a wal-mart heir. Dude is rich from his father. Can’t knock that but to pretend like he got everything on his own is ridiculous.
Now you can go to a Broncos and game and pick up groceries on the way home. Gonna be bad though when the Broncos have sales on big screen tv’s when they play on Thanksgiving day.
The exorbitant and excessive purchase price for the team will rapidly be recouped by new owner WALTON. Once he gains control, all players, coaches, and team management will be released or fired and be replaced with personnel from….
CHINA !!
O & DL are Sumo wrestlers. CBS WRs are the Courtesans with the wooden shoes. RBs & QBs are family of Xi Jiping.