The Denver Broncos will soon have a new majority owner: Walmart heir Rob Walton, a 77-year-old businessman. He’s the son of late Walmart founder Sam Walton.
Walton led a group that has agreed to purchase the team for $4.65 billion, pending NFL approval. As the controlling owner, Walton will pay at least 30% of the purchase price ($1.395 billion), and possibly more.
Walton’s daughter, Carrie Walton-Penner, and his son-in-law, Greg Penner, are also joining the team’s new ownership group as minority investors. Mellody Hobson is expected to join as well.
Carrie, 51, and Greg, 52, are “expected to be the top two day-to-day Broncos bosses,” according to a report from KUSA-TV’s Mike Klis. They currently live in California but the Penners have lived in Colorado in the past and they will presumably do so again as the team’s new day-to-day owners.
Greg has served as the chairman of Walmart since 2015, which is when Rob retired from that position.
Klis also reported that one or two of Rob Walton’s grandchildren could also be involved in ownership, a sign that the team will be a family business, just like Walmart.
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