Denver Broncos and Walton Benner enter into a buy-sell agreement

The agreement to purchase the Broncos from the Pat Bowlen Trust is subject to approval by the NFL Finance Committee and the league’s ownership, as well as “meeting normal closing procedures,” according to the Statement from Bronco.

The Wal-Mart buying group is headed by Rob Walton, his daughter Carrie Walton Benner, and her husband, Greg Benner, the president of Wal-Mart.

“I’ve enjoyed getting to know Rob Walton, Carrie Walton Penner, and Greg Penner throughout the process,” said Broncos President and CEO Joe Ellis.

“Learn more about their background and vision for the Denver Broncos, and I am confident that their leadership and support will help this team achieve great things on and off the field.”

according to ESPNThe deal is expected to be worth $4.65 billion – a record price for a North American sports franchise.

“Carrie, Greg and I were inspired by the opportunity to lead this great organization in a vibrant community full of opportunity and passionate fans,” said Rob Walton, on behalf of the buying group.

“Having lived and worked in Colorado, we have always admired the Broncos. Our enthusiasm only increased when we learned more about the team, the staff, and the Broncos Country over the past few months.”

Walton said Melody Hobson, co-CEO of Ariel Investments, chairman of Starbucks Corporation and director of JPMorgan Chase, is also part of the proprietary group.

The Pat Bowlen Trust announced in February its intention to sell the Broncos after it had owned the team since the death of previous owner Pat Bowlen in 2019.

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Bowlen bought a Bronco in 1984, but relinquished control in 2014 after he was diagnosed with Alzheimer’s disease. The Broncos won the Super Bowl three times during the Bowlen’s tenure.

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