The Denver Broncos are seeing some good times lately.
They traded for Pro Bowl quarterback Russell Wilson, giving them the play-caller that will bring their offense to new heights.
The Broncos might be in one of the NFL’s toughest divisions, but having an experienced quarterback will help them get through.
Likewise, the team might be under new ownership, as Pro Football Focus shares.
The Broncos will have a new owner 👀 pic.twitter.com/8yCWmxmaKC
— PFF (@PFF) June 6, 2022
Rob Walton is set to purchase the team from the Pat Bowlen Trust for $4.5 billion.
If the surname rings a bell, he is the heir of Walmart which had a net income of $13.67 billion in the 2021 fiscal year.
Aside from being one of America’s biggest retail chains, they have also successfully catered to the changing times by delving into e-commerce.
Walton was the company’s chairman from 1992 to 2015.
He studied at the University of Arkansas and got a law degree at Columbia Law School.
The 77-year-old tycoon has an estimated net worth of $59 billion as of March 2022.
That value makes him the 18th richest person in the world.
Having a popular owner could also boost the Broncos’ franchise value.
In 2021, Forbes Magazine valued the team at $3.75 billion, the tenth-highest in the NFL.
Legal Hiccups Before The Sale
The team’s sale faced a roadblock when the camp of former Broncos owner Edgar Kaiser argued that they had the right of first refusal.
However, a Denver district court judge ruled that the agreement is terminated in its entirety, mainly because both Kaiser and Bowlen have passed away.
That decision gave owner delegee Joe Ellis to facilitate the transfer of ownership.
Several personalities were rumored to join ownership groups that will bid for the Broncos.
Ultimately, the man that sustained one of America’s biggest corporations might have won.