The Denver Broncos could have a new owner for the first time since 1984 as Walmart heir Rob Walton is set to spend $4.5 billion on the franchise.
The winning bid has not yet been confirmed, but it is anticipated to be disclosed “as early as this month.”
CBS reports a transaction of this scale might go through at any time, but given Walton’s endless resources, it is exceedingly improbable at this moment.
Officially, the second round of offers will not be submitted until Monday, according to a source who told CBS Sports NFL Insider Josina Anderson that “any notion that a favorite has emerged, or that a sum has been settled is completely wrong.”
The Broncos have moved closer to a sale in recent weeks, with prospective purchasers visiting the team’s facilities in May.
Despite the fact that there were four other finalists interested in purchasing the squad, none of them could equal Walton’s fortune.
Rob Walton, the son of Walmart founder Sam Walton, is projected to be worth $59.6 billion.
Once the deal is completed, Walton will not only be the NFL’s richest owner, but he will also have larger net worth than the NFL’s next six richest owners COMBINED.
At $16.7 billion, Panthers owner David Tepper presently has the greatest net worth in the NFL.
If the ultimate price is $4.5 billion, it will break the American record for the highest money ever spent on a sports franchise.
The Nets now hold the record, being sold for $2.35 billion in August 2019. The $4.5 billion price tag would also nearly quadruple the price of the most expensive NFL franchise ever sold, which occurred in 2018 when Tepper paid $2.275 billion for the Carolina Panthers.
The Broncos were projected to be sold for just under $4 billion as recently as early April, but NFL franchises are a hot commodity that doesn’t come up for sale very frequently, which has likely contributed to the price increase.
The 77-year-old Walton will be buying the team from the Pat Bowlen trust. Bowlen originally purchased the team back in 1984 for just $78 million.
He owned the franchise from 1984 until his death in 2019.