Broncos announce sale of team to Walton-Penner family

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The Denver Broncos finally will be sold.

After years of the team being held in trust while the children of the late Pat Bowlen tried, unsuccessfully, to resolve their differences in a way that would allow one of them to take over, the league nudge the situation to resolution. And it has now nearly resolved.

The team and the Walton-Penner family announced late Tuesday that they have entered into a purchase and sale agreement. The agreement is subject to the approval of the league’s finance committee, the league’s owners (at least 24 must agree), and “the satisfaction of customary closing procedures.”

The group is led by Rob Walton, the son of Walmart founder Sam Walton. The primary ownership also includes his daughter, Carrie Welton Penner, and her husband, Greg Penner. Greg Penner has served as the chairman of Walmart since 2015. He succeeded his father-in-law in the position.

Mike Klis of reports that the Walton-Penner family will pay $4.65 billion for the team. Some had said it would go for $4.5 billion. We’d heard that the price would start with a 5. Ultimately, the other three groups bidding for the team didn’t drive the auction price up as high as expected.

That will be viewed by other owners as a disappointment, since it suggests that their own teams may not be worth as much as they believed. Eventually, however, that price will keep going up and up and up.

49 responses to “Broncos announce sale of team to Walton-Penner family

  1. Imagine your father or mother started a highly successful business where wealth flowed to you to the point you could pay $5B for a pro franchise. Wow.

  2. Are we at the point where everything in our country will be owned by a select few, including all our sports teams? “Here’s the Walmart Broncos playing the Amazon Commanders, coming off their loss to the Microsoft Jaguars.”

  3. Aww man. Sold for “only” 4.65 billion and not 5 billion. We don’t feel bad for them. Not one of us.

  4. Flash! The team announces relocation to Bentonville, Arkansas. Denver stunned!

  5. The rich get richer, the poor get poorer and America trudges on toward its inevitable conclusion.

  6. Imagine what the price would be if the NFL’s first title-winning franchise–the Akron Professionals–had survived.

  7. Greeters with smiley face stickers ar every gate I’m sure will grace that old hat of a stadium. New ticket prices too. Just wait.

  8. Get ready to tighten that belt and pay higher prices until he sees his investment returned. See David Glass and the royals.

  9. Wonder who will win the naming rights for the field, Walmart or Sam’s Club? 🤔

  10. “I really dislike it when I can’t get a possible 5 billion dollars for my team if I decide to sell.” How incredibly greddy have the other 31 owners have become?

  11. I strongly dislike the wal mart empire, and thus, the Waltons. I wonder how Pat Bowlen would feel about this?

  12. Yes, that reduced purchase price must be a bitter pill for the other owners to swallow.

    Hang in there and stay strong men.

  13. Wal-Mart shoppers will pay for those customary closing procedures–always.

  14. What’s $350m over $4.65b between friends anyway…Chelsea Soccer in the UK just set the global record for a sale of ANY sports franchise @$3.2b a few weeks ago…this blows that out of the water

  15. Stan Kroenke, who happened to marry into the Wal-Mart fortune, has set the bar for new stadiums. Get ready for Sam’s Club stadium, out by the airport. It will look cool, but the heart and soul of the Broncos will be gone.

  16. tell me how this purchase price doesnt get passed along to the consumer?

  17. So one nepotistic family couldn’t get it together so it was sold to another nepotistic family. Amazing accomplishments. I’m sure they’ve worked really hard for everything they’ve got. Truly inspirational.

  18. Hopefully the Bowlen family can stop being the knockoff of the Roy family in “Succession” now.

  19. Walmart employees have received more than $4.5 billion in federal assistance, paid by taxpayers. So, Walmart could either pay living wages, boring, or buy a football team, exciting!

  20. “Are we at the point where everything in our country will be owned by a select few, including all our sports teams?” …ummm, we are long past the point of no-return on that one. For example, these companies control nearly every food item you and I eat: Nestlé, PepsiCo, Coca-Cola, Unilever, Danone, General Mills, Kellogg’s, Mars, Associated British Foods, and Mondelez. They ALREADY own everything.

  21. How soon will they have to mark the Russell Wilson gear down 70% in Walmart’s because he’ll be a complete bust in Denver?!

  22. how soon before Davis, Brown and the other owners who watch every nickel and dime sell out ??

  23. When I heard the Waltons were interested that pretty much said it all they were getting the broncos, end of story. The other bidders were hoping maybe the Waltons would drop out maybe???
    Now the Waltons will have a huge amount of power in the NFL, owners of two franchises. Big voice.

  24. Walmart employees have received more than $4.5 billion in federal assistance, paid by taxpayers. So, Walmart could either pay living wages, boring, or buy a football team, exciting!

    Actually Walmart does us all a favor. Those employees who dont make a ton of money – news flash retail never did pay well, are not on the govt dole and we tax payers arent stuck while they sit at home and play video games all day and collect welfare. No these people have jobs and are one less problem tax payers have to deal with. Thanks Walmart.

  25. As a KC fan, I’m not sure I’ll feel right shopping at WM or Sam’s anymore. Maybe only after we beat them, a sympathy purchase 😉

  26. Well that means the lines will be 3 times longer and the bathrooms wont be cleaned if it is owned by Walmart

  27. Hey Broncos fans, are you ready to pay $19 for a flat Coors, or maybe $100 to park your car?

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