Rob Walton is leading a group that has agreed to buy the Denver Broncos for $4.65 billion, a massive price that more than doubles the previous record for the most expensive sale of a U.S. sports team.
There’s been much speculation that Walton might want to build a modern new stadium for his newly-acquired NFL franchise, which would help Denver attract Super Bowls and other major events in the future.
The team’s current stadium, Empower Field at Mile High, is just 21 years old, so many fans have rejected the idea of a brand new stadium, suggesting renovations to the current stadium instead.
In the end, though, it’s Walton’s team, so if he wants a new stadium, he’ll get one. If he does decide to build from scratch, the Walmart heir should follow the lead of Los Angeles Rams owner Stan Kroenke, who’s married to Ann Walton, Rob’s cousin.
Kroenke built a super stadium in California that cost more than $5 billion, according to the Los Angeles Times. SoFi Stadium was quickly selected to host a Super Bowl, and it might host World Cup soccer matches in 2026.
Denver could attract similar events with a super stadium of its own, but the team shouldn’t ask tax payers to fund it. Kroenke, worth an estimated $10.7 billion, privately funded SoFi Stadium. Walton, meanwhile, is worth about $60 billion, so he could easily afford to build a stadium with his own funds even after paying a massive price for the Broncos.
When the team built Empower Field at Mile High (originally called Invesco Field), Colorado ended up paying for most of it. Walton shouldn’t ask the state to pay for another stadium just 21 years later.
Kroenke’s certainly not a perfect sports owner. But his Rams just won a Super Bowl in his privately-financed stadium, and Walton should look to follow his lead.
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