It’s officially official. On Tuesday, NFL owners voted to approve the sale of the Denver Broncos to the Walton-Penner family. The vote required at least three-quarters (24) of the league’s 32 owners to approve the sale, and was the final hurdle in closing the sale. The league noted that the vote was unanimous.
The Broncos have announced back in early June that they had entered into a buy-and-sell agreement with the Walton-Penner family. It was reported at the time that the winning bid for the franchise was to be $4.65 billion, which would be a record for the most money ever spent on a sports franchise in the United States.
“We are grateful for the support and confidence of the National Football League and the other 31 teams with today’s vote,” Rob Walton said in a statement. “We couldn’t be more excited to join the Denver Broncos. It’s a responsibility and a privilege to serve as stewards of such an iconic franchise. We have tremendous respect for what Pat Bowlen has meant for the Broncos and we look forward to building on that organization’s championship legacy.
“While we are deeply committed to building a great team to win the Super Bowl, our amazing family and partners are also dedicated to our off-court responsibilities in Broncos country and the Rockies region.
“In operating with integrity and responsibility, we aim to leverage our individual strengths and those of the players, coaches and staff who have shaped Broncos history. And to that end, we would like to thank Joe Ellis for his guidance throughout this process, and his willingness to serve as the Ownership Advisor for this season.Across the organization, we will all continue to listen and learn.
“Most importantly, we will strive to make the Denver Broncos the best team to cheer, play and work for in any sport. Go Broncos!”
Walton, the son of Walmart founder Sam Walton, is the 19th richest person in the world with an estimated net worth of $65 billion, according to Forbes. With this deal now approved, Walton is now by far the richest owner in the NFL. Prior to Walton, Panthers owner David Tepper held the title with an estimated net worth of $16.7 billion.
It’s the first time the Broncos will be under new ownership since 1984 when former owner Pat Bowlen bought the team. Bowlen relinquished control of the franchise in 2014 due to a diagnosis of Alzheimer’s and died in 2019. Since then the Pat Bowlen Trust has assumed control and announced in February this franchise would be put up for sale, ending their 38 years of ownership.