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Walmart Heir Rob Walton To Buy Denver Broncos For $4.8B

By  |  June 8, 2022

The Denver Broncos and the Walton-Penner family ownership group, spearheaded by Walmart heir Rob Walton, have entered into a sale agreement to acquire the team, the Broncos announced in a tweet Tuesday night.

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    Walton, 77, is one of the richest people in the world thanks to his Walmart ties. The ownership group includes Walton’s daughter, Carrie Walton Penner, and her husband, Greg Penner.

    Mellody Hobson, co-CEO of Ariel Investments, is also part of the ownership group, Walton announced. She currently serves as Chair of the Board of Starbucks Corporation and is a director of JPMorgan Chase.

    Hobson is a prominent Black businesswoman. The NFL wanted diversity in the Broncos’ new ownership group.

    In a statement, Broncos president and CEO Joe Ellis said he was “confident that [the Walter-Penner family’s] leadership and support will help this team achieve great things on and off the field.”

    Rob Walton issued a statement on behalf of the Walton-Penner family ownership group, saying, “We look forward to earning the confidence and support of the NFL as we take the next step in this process.”

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