Once approved, the purchase will lap the previous NFL record of $2.275 billion for the Panthers, $1.4 billion for the Bills, $1.1 billion for the Miami Dolphins (Stephen Ross in 2008) and $1 billion for the Cleveland Browns (Jimmy Haslam in ’12). The Walton-Penner group cleared that with millions to spare. Richest owner, richest buyĪs it became clear since 2018 that sibling discord would prevent the Broncos staying in the Bowlen family, the debated floor price for the Broncos was $4 billion. Ellis will be a part of a transition before retiring and it is probable Penner will have a major role and title within the organization. General manager George Paton is in the second season of a six-year contract to lead the football operations. In the span of five months, the Broncos have introduced a new coach (Nathaniel Hackett), new quarterback (Russell Wilson) and, in all probability, a new ownership group is close at hand. “Our enthusiasm has only grown as we’ve learned more about the team, staff and Broncos Country over the last few months.”īroncos president/CEO Joe Ellis, who has overseen the day-to-day operations of the franchise since Bowlen stepped down in July 2013 due to complications of Alzheimer’s, sent a company-wide email to employees informing them of the agreement and met with the Broncos’ coaches and players Wednesday morning. “Having lived and worked in Colorado, we’ve always admired the Broncos,” Rob Walton said in a statement. What followed was nearly four decades of sustained competitiveness, highlighted by three Super Bowl championships in seven appearances and 15 AFC West champions. In 1984, Pat Bowlen and his siblings bought Edgar Kaiser’s shares of the Broncos for $78 million. John’s 22% stake will be worth $1.023 billion and the seven children will get $518 million each before taxes. The sale proceeds will be split between late owner Pat Bowlen’s brother, John, and the seven Bowlen children - daughters Amie Klemmer and Beth Bowlen Wallace from Pat’s marriage to Sally Parker, and Brittany, Annabel, Christiana, Johnny and Patrick from Pat’s marriage to Annabel Bowlen. Walton and the Penners have residences in Colorado. The Broncos’ ownership group is led by Walton (77 years old), Penner (52), Carrie Walton-Penner (51) and Mellody Hobson (53). RELATED: Kiszla: From Broncos to Avalanche, let the Walmart family sports feud in Denver begin. Four years ago, David Tepper signed a purchase deal for the Carolina Panthers on May 15 and was approved on July 9. 9 and were approved by the league on Oct. In 2014, Terry and Kim Pegula reached a sale price for the Buffalo Bills on Sept. The findings will be shared with the finance committee and it could include in-person meetings with the buyers.Ī timetable is unclear, but a vote is expected well ahead of the Broncos’ Sept. The league is already reviewing and conducting due diligence on Walton and every limited partner. Next up is a meeting with the NFL’s Finance Committee, chaired by Kansas City’s Clark Hunt, to earn their recommendation to move forward, and getting a “yes” vote from at least 24 teams to approve the transaction. The Walton-Penner Ownership Group entered a purchase/sale agreement with the Broncos late Tuesday night for $4.65 billion, the largest amount ever paid to acquire a sports franchise. The Broncos are two short steps away from introducing a new era led by Walmart heir Rob Walton and his son-in-law, Greg Penner. Digital Replica Edition Home Page Close Menu
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