Denver Broncos Land New Owners, Sold for Record Price

The Denver Broncos have new owners. On Tuesday, the team announced it has entered into a purchase and sale agreement with the Walton-Penner family, who will acquire the team from the Pat Bowlen Trust. According to multiple reports, the Broncos were sold for a record $4.65 billion. Earlier in the week, it was reported that the Walton-Penner family, led by Walmart heir Rob Walton, was going to buy the as the bids were coming in. 

"We are thrilled to be selected to move forward with the purchase of the Denver Broncos!" Walton said in a statement. "Carrie [Walton Penner], Greg [Penner] and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans. "Having lived and worked in Colorado, we've always admired the Broncos. Our enthusiasm has only grown as we've learned more about the team, staff and Broncos Country over the last few months.

"We are excited to announce that Mellody Hobson, Co-CEO of Ariel Investments, has agreed to join our ownership group. Beyond her role at Ariel, Mellody is an influential leader in corporate and civic organizations across the nation. Mellody currently serves as Chair of the Board of Starbucks Corporation and is also a director of JPMorgan Chase. We know she will bring her strategic acumen and leadership perspective to our team."

Walton has a net worth of $65 billion and is the 19th richest person in the world, according to Forbes. The $4.65 billion purchase is the most money ever paid for a sports franchise in the United States. Once the sale is complete, Walton will be the NFL's richest owner and will have a higher net worth than the league's six richest owners combined. 

"I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process," Broncos president and CEO 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."

The Bowlen family has been owners of the Broncos since Pat Bowlen bought the team for $78 million in 1984. From 1984 until Bowlen's death in 2019, the Broncos were one of the top teams in the NFL as they played in seven Super Bowls and won three of them.