Broncos Enter Contract with Walton-Penner Family for Reported Record $4.65B Sale

The Denver Broncos have been sold after a lengthy legal battle.

Denver Broncos @Broncos

The Denver Broncos and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team.

Statements: pic.twitter.com/tMcfuAifeS

The record for a U.S. sports franchise was broken by the family that bought the team.

According to Mike Ozanian of Forbes, the winning bid was over $4 billion.

A sale has been expected since a Denver county district court judge ruled in favor of the previous owners.

The Broncos were up for sale.

Denver Broncos @Broncos

The Pat Bowlen Trust announced today the beginning of a sale process for the Denver Broncos.

Joe Ellis: “Whoever emerges as the new owner will certainly understand what the team means to our great fans and this community.” pic.twitter.com/ubfPc4TjID

Kaiser had a right of first refusal when he sold the Broncos to Bowlen.

Kaiser claimed Bowlen violated the agreement when he offered a 10 percent stake in the team to Elway. An appeals court overruled the jury's ruling in Kaiser's favor.

Elway didn't invest as a minority owner despite the ruling.

Bowlen gave up control of the franchise to Joe Ellis as he battled Alzheimer's. Bowlen passed away in June of 2019.

Ellis was the Broncos director of marketing from 1983 to 1985 After eight seasons in the league office, he returned to the Broncos in 1998.

Ellis has been the president of Denver.

The Broncos made 18 playoffs and won 13 division titles under Bowlen.

The Broncos' franchise value was estimated by Forbes in August. It is the 10th highest valuation.

It's hard to argue with the credentials that Walton brings to the table, despite competing against some high-profile competition.

Rob was chairman of Walmart for 23 years after his father died.

The family knows a lot about sports team ownership. Ann is married to the owner of the Los Angeles Rams.

According to Forbes.com, Walton is the 17th wealthiest person in the world with a net worth of $68.6 billion.

The Broncos have missed the playoffs in each of the past six seasons, but they are in a good position to win a title. Their roster has a lot of talent at skill positions.

The general manager solved the quarterback question by acquiring Russell Wilson.