Denver Broncos: Walton-Penner agrees to record $ 4.65 billion in sales
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Denver Broncos have agreed to sell the license to Walmart successor Rob Walton and his family at a record price.
In a statement, Broncos CEO and President Joe Ellis confirmed a trade agreement with Walton, 77, his daughter Carrie Walton-Penner, and his daughter-in-law, Greg Penner.
“I’m glad to meet Rob Walton, Carrie Walton-Penner and Greg Penner during all this time,” Ellis said Tuesday. “Learning more about their history and the vision of the Denver Broncos, I believe their leadership and support will help. The team does great things inside and outside the stadium.”
“I am very grateful for the co-operation of our football leadership, team and staff at UCHealth Training Center and Empower Field at Mile High over the past few months and years. properly, ”he added.
Sales have not been disclosed, but 9News Denver also announced that Walton will pay $ 4.65 billion for the deal. This is more than double the recent cost of the NFL team, and could set a new record for selling American franchises.
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Ellis explained that the deal should be approved, through NFL policies, by many owners.
“While the buying and selling agreement is expected to be approved by the NFL finance committee and league ownership, today is a very important step on the road to a exciting new chapter in Broncos history,” he said.
The agreement must be approved by 24 of the current 32 owners.
Walton and Penner shared their words of declaration of happiness and gratitude to Ellis and the Broncos.
“We are delighted that we have been selected to go ahead with the acquisition of Denver Broncos! Carrie, Greg and I are thrilled to have the opportunity to lead this great organization in this fun-filled environment with the fans involved,” the couple said.
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“Having been working in Colorado, we have always admired Broncos. Our enthusiasm has increased as we have learned more about the team, the staff and the Broncos Country over the past few months,” the statement said.
The Denver Broncos family and the Walton-Penner family have formed a buy and sell contract to acquire the club.
– Denver Broncos (@Broncos) June 8, 2022
Mellody Hobson, Co-CEO of Ariel Investments, has also agreed to join the owners’ group.
“Mellody currently serves as Chairman of the Starbucks Corporation and as executive director of JPMorgan Chase. We know he will bring his cognitive skills and leadership ideas to our organization,” he said.
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“Thank you to Joe Ellis and the staff at Broncos for the first way they did this. In addition, thank you Hogan Lovells for their guidance and support in this project,” he added.
And: “We look forward to gaining the confidence and support of the NFL as we take the next step. As the official guidelines are being implemented, our family is excited to share more with Broncos fans, the organization and the community.”
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Team owners are expected to hold a meeting next month to discuss the sale, 9News Denver said.
According to the report, Rob Walton’s revenue is between $ 60 and $ 70 billion.