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

 |  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.

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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