The Denver Broncos entered into a purchase and sale agreement with a group led by Walmart heir Rob Walton in June, but the transaction hasn’t been finalized just yet.
The $4.65 billion purchase needs to be approved by at least 24 of the NFL’s 32 ownership groups. That approval is now just a few weeks away.
League owners have scheduled a special meeting for Tuesday, Aug. 9 in Minnesota, according to The Athletic‘s Daniel Kaplan. The owners are meeting specifically to vote on the sale, which is expected to be approved.
Once approved, Walton, his son-in-law, Greg Penner, and his daughter, Carrie Penner, will takeover the team. Walton will be the majority owner but the Penners are expected to handle the team’s day-to-day ownership duties.
The Walton-Penner group will also add at least two minority owners in businesswoman Mellody Hobson and former Secretary of State Condoleezza Rice. Peyton Manning is also a candidate to join the team as an advisor.
A new era will soon begin in Denver.
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