How much did Rob Walton bid for the Denver Broncos?
Walmart heir Rob Walton staked a record amount for an NFL buyout, tabling an offer of $4.5 billion for the Denver Broncos which became the winning bid.
Rob Walton won the race to buy the Denver Broncos in August, and his new ownership group includes former Secretary of State Condoleezza Rice and F1 legend Lewis Hamilton.
The Walmart heir staked a world record amount for a sports buyout, tabling an offer of $4.5 billion for the NFL franchise, which represents the second-biggest buyout in sports history after the takeover of Chelsea FC by a Todd Boehly-led consortium for $5.33 billion.
It also smashed the previous record for an NFL takeover set when Hedge fund billionaire David Tepper acquired the Carolina Panthers for a then-record $2.3 billion in 2018.
Forbes journalist Mike Ozanian first reported the news that Walton won the race for the acquisition of the Broncos, who were initially valued at $3.75 billion but saw that estimate increase due to the high demand for the sale of the three-time Super Bowl champions, who were owned by the Pat Bowlen Trust.
Walton faced rival bids
Other interested parties also staked their claim. Among the candidates who mounted rival bids to Walton’s were Josh Harris (owner of the Philadelphia 76ers), a joint bid by José Feliciano and Behdad Eghbali (co-founders of Clear Lake Capital), and another led by Mat Ishbia, president and CEO of the Michigan-based mortgage lender United Wholesale Mortgage, per the Denver Post.