The New Era: Walton-Penner Group Set to Become the Next Owner of Denver Broncos
The city of Denver is buzzing with excitement as the news of a new owner for the Denver Broncos, one of the legendary NFL franchises, breaks the headlines. The highly anticipated sale of the team is pending a vote from the other NFL franchise owners and approval from the leagueâ€™s finance committee. If everything goes as expected, the Walton-Penner group will soon take the reins as the proud new owners of the Denver Broncos, in a record-setting deal worth a staggering $4.65 billion.
The Broncos: A Team with High Expectations
Last season may have seen the Broncos finish in last place in the fiercely competitive AFC West, but the team is determined to turn their fortunes around. With the recent acquisition of All-Pro quarterback Russell Wilson from the Seattle Seahawks, the Broncos have quickly become a popular pick to win Super Bowl 57. The odds currently stand at +1600 according to DraftKings, reflecting the high expectations placed on this talented team.
The Denver Broncos have a rich history of success, having won the Super Bowl three times. Led by the legendary Hall of Fame quarterback John Elway, the Broncos celebrated back-to-back victories in 1997 and 1998, showcasing their dominance. Their most recent triumphant moment occurred in 2015 when Peyton Manning led the team to a glorious victory in Super Bowl 50.
Introducing the Walton-Penner Group
The Walton-Penner group, poised to become the new owners of the Broncos, is led by Rob Walton, the son of Walmart founder Sam Walton. This dynamic group also includes Rob Walton’s daughter, Carrie Welton Penner, and her husband Greg Penner. Greg Penner, who currently serves as the chairman of Walmart, brings a wealth of experience and business acumen to the group. A notable addition to the ownership group is Mellody Hobson, co-CEO of Ariel Investments and chairwoman of Starbucks, who joins as a minority owner.
This exciting development marks a significant milestone in the history of the Denver Broncos, as team president Joe Ellis expresses his confidence in the leadership and support of the Walton-Penner family. Their shared vision and dedication to the team promise a bright future for the Broncos, both on and off the field.
The Record-Breaking Deal
The Broncos’ estimated value had previously been pegged at around $4.5 billion to $5 billion. However, the Walton-Penner group’s agreement to purchase the team for a whopping $4.65 billion will set a new record for the highest sale of a North American major sports franchise. This eyewatering figure surpasses the previous record of $2.275 billion, which was paid for the Carolina Panthers in the NFL.
Rob Walton shared his excitement about the purchase, stating, “We are thrilled to be selected to move forward with the purchase of the Denver Broncos! Carrie, Greg, 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, weâ€™ve always admired the Broncos. Our enthusiasm has only grown as weâ€™ve learned more about the team, staff, and Broncos Country over the last few months.”
Bowden Family Drama
The sale of the Broncos is not without its fair share of dramatic twists. Following the passing of former owner Pat Bowden in 2019, his children engaged in a bitter battle for control of the team. The Bowden family’s power struggle resembled a storyline straight out of HBO’s hit show “Succession,” capturing the attention of fans and media alike. The heated conflict ultimately led the NFL to intervene and propose a solution wherein the family trust would sell the team to a new owner.
A number of interested parties emerged, including notable figures such as Rob Walton, Josh Harris, Mat Ishbia, and Jose Feliciano/Behdad Eghbali. Josh Harris, co-founder of Apollo Global Management and the owner of the Philadelphia 76ers and New Jersey Devils, was initially considered the frontrunner. However, it was the Walton-Penner Group that ultimately emerged victorious, securing the rights to purchase this storied franchise.
Additional groups that initially expressed interest in acquiring the Broncos included one led by the iconic John Elway, who brought immeasurable success to the team as both a player and executive. Another group, spearheaded by NBA legend Magic Johnson, also threw their hat in the ring, showcasing the widespread appeal and desirability of this esteemed football franchise.
The Denver Broncos’ exciting transition to new ownership under the Walton-Penner group marks the beginning of a new era for the team. With high hopes and a talented roster, the Broncos are poised to make their mark in the upcoming season and beyond. As the loyal fans eagerly anticipate the team’s performance on the field, they can rest assured knowing that the Broncos are in capable hands. The future holds immense promise for this beloved franchise.
1. What is the estimated value of the Denver Broncos?
The estimated value of the Denver Broncos was previously believed to be around $4.5 billion to $5 billion.
2. How much will the Walton-Penner group pay for the Broncos?
The Walton-Penner group has agreed to purchase the Denver Broncos for a staggering $4.65 billion.
3. How many Super Bowls have the Broncos won?
The Denver Broncos have won the Super Bowl three times, achieving victory in 1997, 1998, and most recently, in 2015.
4. Who is the current chairman of Walmart involved in the Walton-Penner group?
Greg Penner, who currently serves as the chairman of Walmart, is involved in the Walton-Penner group as part of the ownership team.
5. Were there other notable individuals or groups interested in purchasing the Broncos?
Yes, notable figures such as Josh Harris, Mat Ishbia, and Jose Feliciano/Behdad Eghbali expressed interest in acquiring the Broncos. Additionally, beloved former Broncos player and executive John Elway, as well as NBA legend Magic Johnson, had aspirations of purchasing the team.