How much did Denver Broncos cost for Walton-Penner group? A new US sports franchise record
The Denver Broncos have shattered the record for the most expensive franchise sale in the history of American sports.
An agreement has been reached for the sale of the Denver Broncos in a deal reportedly worth $4.65 billion, a new record for an American sports franchise. Ownership of the Broncos will transfer to the Walton-Penner family ownership group, headed by Walmart heir Rob Walton.
It sets a new benchmark for the price of professional sports franchises in the United States, clearing the purchase of the New York Mets ($2.4billion) by nearly $2billion, and going for more than double the price of the Carolina Panthers ($2.27billion).
The Panthers were the last NFL franchise to change hands in 2018.
The figure is similar to that recently paid by a consortium led by Los Angeles Dodgers co-owner Todd Boehly for the purchase of Premier League side Chelsea ($5.2billion). In a statement after the agreement was announced, Walton said:
“We are thrilled to be selected to move forward with the purchase of the Denver Broncos.
“[We] are inspired by the opportunity to steward this great organisation in a vibrant community full of opportunity and passionate fans.
“Having lived and worked in Colorado, we’ve always admired the Broncos. Our enthusiasm has only grown as we’ve learned more about the team, staff and Broncos Country over the last few months.”
The sale is expected to take between 60 and 90 days to finalise, but that is just a formality, according to ESPN’s Adam Schefter.