Report: NFL owners expected to approve Denver Broncos sale to Walton-Penner group

NFL owners are expected to approve the $4.65 billion sale of the Denver Broncos to Walmart heir Rob Walton’s Walton-Penner group on Tuesday, according to ESPN’s Adam Schefter. The purchase will become the all-time high price paid for a sports franchise across any sport.

Walton has an estimated net worth of $59.1 billion, per Forbes, which makes him the 22nd-richest person in the world. Additionally, the 77-year-old is the eldest son of Walmart founder Sam Walton. He will also become the richest Arkansas alum to own an NFL franchise, surpassing Dallas Cowboys owner Jerry Jones.

When the news was announced by the Broncos back in June, Denver Broncos President and CEO Joe Ellis issued a statement on the sale of the franchise to the Walton-Penner family, expressing great optimism about the future. The news was announced despite the deal remaining subject to approval from the NFL finance committee and league ownership, as well as a review of customary closing procedures, which now seems to have come into fruition.

“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” the statement reads. “Learning more about their background and vision for the Denver Broncos, I am confident that their leadership on and off the field. I sincerely appreciate the cooperation of our football leadership, executive team and staffs at both UCHealth Training Center and Empower Field at Mile High over the last few months and years.

“We also want to recognize the work of Allen & Company and Proskauer Rose, which have guided us through this process in a timely and efficient manner. 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.”