Who will buy the Denver Broncos?
Billionaire Rob Walton, heir to Walmart, the largest retailer in the world, is reportedly planning to submit a bid to purchase the Denver Broncos.
In February this year, the Denver Broncos announced that the NFL team was up for sale, putting an end to almost four decades of ownership by the Bowlen family. Now, Rob Walton, heir to the mammoth Walmart empire, is planning to bid for the franchise, according to the New York Post.
The emperors of Walmart
Walton is the eldest son of Walmart founder Sam Walton, and was a former chairperson of the company. According to the Bloomberg Billionaires Index, Rob Walton is currently the 17th richest person in the world with a net worth of $69.1 billion. The Walton family fortune is estimated at more than $230 billion.
According to the New York Post report, Walton is now the favorite to buy the team. He is expected to bid more than $4 billion for the franchise, the biggest price tag ever for a professional sports team.
The Walton family is not new to the NFL- Rob’s cousin Anne Walton Kroenke is the wife of Stan Kroenke, owner of the Los Angeles Rams.
Other NFL stories:
Broncos’ potential bidders
Since the Bowlen’s family announced the sale of the Broncos, several names have come up as potential buyers. Among those who had expressed interest were Kanye West, who teamed up with NFL receiver Antonio Brown; Broncos president for football operations and former quarterback John Elway; and Hollywood magnate Byron Allen.
Others who were reported to be interested in the purchase include former quarterback Peyton Manning, Eldridge Industries CEO and part-owner of the Los Angeles Lakers Todd Boehly, and private equity investor Josh Harris, who is a minority owner of the Pittsburgh Steelers and managing partner of the Philadelphia 76ers.
The Broncos hope to finalize the sale before the start of the 2022 NFL season, but it might take a few months before such a transaction could be finalized.