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The Denver Broncos are reportedly set for a change in ownership soon.
In keeping with ESPN’s Adam Schefter, NFL owners are expected to approve the $4.65 billion sale of the franchise to the Walton-Penner group, which is led by Walmart heir Rob Walton. The deal sets a latest record for highest price paid for a sports franchise.
Per Ryan O’Halloran of the Denver Post, Broncos President and CEO Joe Ellis is anticipated to present the Walton-Penner ownership group to the opposite 31 NFL teams during a special league meeting in Minneapolis. The group reportedly also includes Greg Penner and Carrie Walton-Penner, plus limited partners Mellody Hobson, Condoleezza Rice and Lewis Hamilton.
A “yes” vote is required from at the least 24 teams to be able to finalize the record-setting sale.
The deal marks the primary change in ownership for the Broncos in 38 years. Patrick D. Bowlen owned the team since 1984 before his death in 2019. The franchise remained in his family as a part of a trust through which his seven children and his brother John were the beneficiaries. The sale of the team to the Walton-Penner group was originally approved in June.
While the team’s ownership has been in flux, the Broncos haven’t let it distract them as they prepare for his or her first preseason game Saturday against the Dallas Cowboys.
“I used to be brought here to do a job and get this team able to compete and get into the playoffs and I’m really focused on that,” Denver head coach Nathaniel Hackett said after practice Monday. “That is been my priority, this team and getting them able to rock and roll. On the subject of ownership, I’m so excited to fulfill them and get to know them.”