NFL officially approves sale of Broncos to Walmart's heir to fortune Rob Walton
Walton purchased Broncos for $4.65 billion
{{#rendered}} {{/rendered}}The Denver Broncos officially have new owners.
The National Football League approved the sale of the three-time Super Bowl champions to the heir of Walmart's fortune, Rob Walton, whose father founded the corporation in 1962.
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{{#rendered}} {{/rendered}}Walmart chairman Rob Walton speaks during the annual Walmart shareholders' meeting in Fayetteville, Arkansas, June 1, 2012. (Reuters/Jacob Slaton)
"The Broncos is the one franchise that we would choose to own if we had everything to choose from," Walton said in a video tweeted out by the team. "The Broncos have a terrific history: championships, great leadership, Super Bowl wins - we just couldn’t be happier to be joining such a terrific organization.
"The goal for the ownership group is to win games, of course, win a Super Bowl, but we want this team to play its proper role in the community, too. Making the Broncos the place for fans to be proud of, for folks that work here to be proud of, and for players to want to be a part of."
Walton will take over with his daughter, Carrie Walton Penner, and her husband, current chairman of Walmart, Greg Penner.
{{#rendered}} {{/rendered}}"Our primary goal is to go out and win, but we also want to make sure we do everything we can to make sure the Denver Broncos are the best team to play for, to cheer for, and to work for," said Carrie Walton Penner.
Penner is expected to have a major role in day-to-day operations, potentially as the team's CEO.
A general view after a Denver Broncos touchdown during a game between the Broncos and the Cincinnati Bengals at Empower Field at Mile High, Dec. 19, 2021, in Denver, Colorado. (Dustin Bradford/Icon Sportswire via Getty Images)
Walton has an estimated net worth of $65 billion, which puts him as one of the 20 wealthiest people on the planet and will make him, by far, the richest owner in the league.
{{#rendered}} {{/rendered}}Walton bought the team from the Trust. The late Pat Bowlen bought the team in 1984 for $78 million, and his family officially put the team up for sale in February. Bowlen had ceded his control of the team to Joe Ellis in 2014 as he was battling Alzheimer's disease.
"As I step down as President & CEO, it has been the honor and privilege of a lifetime to be a part of the Denver Broncos for 27 seasons," Ellis said in a statement. "I am forever thankful to our dedicated staff, the players and coaches for making this franchise what is has become today - one of the best organizations in all of sports."
A general view of Empower Field at Mile High in Denver, Colorado, on Sept. 15, 2019. (Dustin Bradford/Getty Images)
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{{#rendered}} {{/rendered}}Minority stakeholders of the team include former United States Secretary of State Condoleezza Rice, Formula One champion Lewis Hamilton, and Starbucks chairwoman Mellody Hobson.