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Sunday, July 14, 2024

Rob Walton Reportedly Lassos Broncos for $4.5B

Denver-Broncos
Walmart Corporate

Second-round bids for the Denver Broncos are due by 5 p.m. ET on Monday, and Forbes reported that a group led by Rob Walton will become the team’s next owner.

Walton’s bid will reportedly be worth around $4.5 billion — the most ever spent for a U.S. team and second-most for any professional sports team. A consortium led by U.S. billionaire Todd Boehly purchased the Premier League’s Chelsea FC for $5.4 billion last month. 

A source with knowledge of the process cautioned declaring Walton, son of Walmart founder Sam Walton, the team’s new owner since the report came before any of the four expected groups submitted their final bids. 

With an estimated net worth of $59.1 billion, Walton has more spare change than his competition.

  • Josh Harris, an owner and founder of Harris Blitzer Sports and Entertainment — the company that owns the Philadelphia 76ers and New Jersey Devils — is leading a bidding group. Harris’ reported net worth is $5.6 billion.
  • Clearlake Capital co-founder Jose E. Feliciano and his business partner Behdad Eghbali are leading another group. Each carries a net worth of $3.4 billion.
  • The fourth presumed finalist is a group led by United Wholesale Mortgage CEO Mat Ishbia, who has an estimated net worth of $4.6 billion.

Tight Timeline

As of 11 a.m. Monday, no official bids had been made as the groups are expected to wait until closer to the deadline. It’s expected the winner would be chosen “in the very near future,” a source told Front Office Sports.

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