The Walton Penner family ownership group's most notable transaction was the sale of the Denver Broncos. The sale was finalized in January 2023.
The Walton Penner family ownership group acquired the Denver Broncos in 2022. This marked a significant shift in the team's ownership.
The sale of the Denver Broncos was a major business deal, with the Walton Penner family ownership group selling the team to a new owner.
Walton-Penner Group Sells Broncos to CEO Greg Penner
The Walton-Penner Group has officially sold the Denver Broncos to CEO Greg Penner. This transfer of ownership was approved by the NFL.
The Broncos were sold to the Walton-Penner Group for a record $4.65 billion in 2022. The group's ownership structure has been adjusted to reflect the family's long-term vision for the team.
CEO Greg Penner will now hold the controlling owner designation, with a 30% stake in the team. This is in accordance with NFL ownership bylaws.
The Walton-Penner Group's four children will receive an ownership stake, but they won't have any role in running the organization.
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Purchase Agreement
The Walton-Penner family ownership group has entered into a sale agreement with the Denver Broncos, with the terms of the sale reportedly being $4.65 billion.
The sale agreement is pending approval from the NFL's finance committee and league ownership.
The Broncos were valued at $3.75 billion by Forbes last year, making them the 10th most valuable franchise in the league.
The sale far surpasses the previous record for a sports franchise, which was held by the Brooklyn Nets at $2.3 billion.
Rob Walton, Carrie Walton Penner, and Greg Penner will lead the ownership group, with Mellody Hobson, co-CEO of Ariel Investments and chairwoman of Starbucks, agreeing to join the group.
The Pat Bowlen Trust has run the franchise for several years, but the team was put up for sale after Hall of Famer Pat Bowlen's children couldn't concur on a successor to their father.
The sale is the most expensive deal for a sports franchise anywhere in the world, with the price tag far surpassing the $3.1 billion sale of Chelsea to an American-led consortium last month.
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Walton-Penner Group
The Walton-Penner Group is a family ownership group that acquired the Denver Broncos in August 2022 for a then-record $4.65 billion.
Greg Penner and Carrie Walton Penner, the son-in-law and daughter of Rob Walton, have been running the team since the acquisition.
The NFL has approved changes to the ownership structure of the Walton-Penner group to align with the family's long-term vision for the Denver Broncos.
These adjustments include designating CEO Greg Penner as controlling owner and transferring a portion of Rob Walton's ownership stake to the Penners' children.
The Penners' four children will receive an ownership stake, but they aren't expected to have any role in running the organization.
According to NFL ownership bylaws, each club must have a designated controlling owner with at least a 30% stake in the team.
Denver Broncos
The Denver Broncos have a new owner, the Walton-Penner family ownership group, who purchased the team for a record $4.65 billion.
This deal is the most expensive in sports franchise history, surpassing the $3.1 billion sale of Chelsea, a European soccer team.
The Broncos were previously owned by the Pat Bowlen Trust, which put the team up for sale after Bowlen's children couldn't agree on a successor.
The Walton-Penner group was one of four finalists for the team, and they're led by Walmart heir Rob Walton, his daughter Carrie Walton Penner, and her husband Greg Penner.
The team's president and CEO, Joe Ellis, is confident that the new ownership group will help the Broncos achieve great things on and off the field.
Rob Walton has expressed his enthusiasm for the team, saying they've always admired the Broncos and are inspired by the opportunity to steward the organization.
The NFL's finance committee and league ownership still need to approve the sale, but the deal is expected to go through.
The Broncos have a new coach, Nathaniel Hackett, who is excited to get to know the new ownership group and move forward with the team.
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The team also has a general manager, George Paton, who has been with the team for a year.
The Walton-Penner group has transferred controlling ownership of the Broncos to CEO Greg Penner, but nothing in the club's day-to-day operations or organizational structure is expected to change.
The team's ownership structure has been adjusted to align with the family's long-term vision for the Denver Broncos.
Frequently Asked Questions
Who are the 32 owners of the Denver Broncos?
The Denver Broncos have had five owners in their history: Bob Howsam, Gerald Phipps, Edgar Kaiser Jr., Pat Bowlen, and the current ownership group led by Rob Walton and Greg Penner. The team has had a total of two ownership groups since 2019, with the Bowlen estate holding the reins briefly before the current ownership took over.
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