NFL financial group backs sale of Broncos to Walmart heir

ENGLEWOOD, Colo. (AP) — NFL owners will decide Aug. 9 whether to approve the proposed $4.65 billion sale of the Denver Broncos to the Waltons, heirs to the Walmart fortune and wealthiest family from America.

The league’s finance committee met Wednesday and unanimously recommended approval of the transaction.

The committee will send a report to all clubs at a special league meeting on August 9. Twenty-four of 32 teams are needed to approve the sale of the legendary Pat Bowlen Trust franchise to Rob Walton; his daughter, Carrie Walton Penner; and her husband, Greg Penner.


Commissioner Roger Goodell made minority ownership a point of attention in the league. The Walton-Penner Group responded to those wishes by including Starbucks Board Chair Mellody Hobson and former US Secretary of State Condoleezza Rice, both black women.

The deal is the most expensive for a sports franchise in the world, surpassing the $3.1 billion sale earlier this year of Chelsea, one of European soccer’s blue ribbon teams, to a state-led consortium United led by Los Angeles Dodgers co-owner Todd Boehly.

Walton, 77, was chairman of Walmart from 1992 to 2015. He is the eldest son of founder Sam Walton and Helen Walton and has an estimated net worth of nearly $60 billion. He would become by far the wealthiest owner in the NFL if the sale was approved as planned.

The Pat Bowlen Trust has run the franchise for several years and put the club up for sale last year after Hall of Famer Pat Bowlen’s children could not agree on a successor to their father.

Bowlen, who bought the team in 1984, died in 2019, a month before his induction into the Pro Football Hall of Fame.

___

More AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL

About Jessica J. Bass

Check Also

BMW Group Takes Inclusive Communications to the Next Level by Announcing the Artificial Intelligence Challenge

Last week saw the launch of the “Joyful Diversity with AI” challenge, focusing …