NFL owners unanimously approve sale of the Denver Broncos to the Walton-Penner family

It’s officially official. On Tuesday, the NFL owners voted to approve the sale of the Denver Broncos to the Walton-Penner family. The vote required at least three-fourths (24) of the league’s 32 owners to approve the sale, and was the final hurdle for the sale to be completed. The league noted that the vote was unanimous.

The Broncos announced back in early June that they had entered into a purchase and sale agreement with the Walton-Penner family. It was reported at the time that the winning bid for the franchise was expected to be $4.65 billion, which would be a record for the most money ever spent for a sports franchise in the United States. 

“We are grateful for the support and trust of the National Football Leaque and the 31 other teams with today’s vote,” Rob Walton said in a statement. “We couldn’t be more excited to join the Denver Broncos. It’s a responsibility and privilege to serve as stewards of such an iconic franchise. We have tremendous respect for what Pat Bowlen has meant to the Broncos and look forward to building on this organization’s championship legacy. 

“While we’re deeply committed to fielding a great team to win Super Bowls, our family and extraordinary partners are also dedicated to our off-the-field responsibilities to Broncos Country and the Rocky Mountain region. 

“Operating with integrity and accountability, we aim to draw on our individual strengths and those of the players, coaches and staff who have shaped the Broncos’ storied history. And to that end, we want to thank Joe Ellis for his guidance throughout this process and his willingness to serve as an advisor to ownership for this season. Across the entire organization, we will all continue to listen and learn. 

“Most importantly, we will strive to make the Denver Broncos the best team to cheer for, play for and work for in all of sports. Go Broncos!”

Walton, the son of Walmart founder Sam Walton, is the 19th richest person in the world with an estimated net worth of $65 billion, according to Forbes. With this deal now approved, Walton is now by far the richest owner in the NFL. Before Walton, Panthers owner David Tepper held the title with an estimated net worth of $16.7 billion.

This is the first time that the Broncos will be under new ownership since 1984 when former owner Pat Bowlen purchased the team. Bowlen gave up control of the franchise in 2014 due to an Alzheimer’s diagnosis and passed away in 2019. Since then the Pat Bowlen Trust assumed control and announced in February that franchise would go up for sale, ending their 38 years of ownership.