Billionaires: Walmart heir leads group to buy Denver Broncos in $4.65bn deal

A group led by Rob Walton, the son of Walmart founder Sam Walton, agreed to buy the National Football League’s Denver Broncos in what would be the largest amount ever paid for a US professional sports team.

Mr Walton’s group includes his daughter, Carrie, and her husband, Greg Penner, along with Mellody Hobson, co-chief executive of Ariel Investments, the two sides said in a joint statement. The deal, which needs approval from the NFL’s finance committee and league ownership, was worth $4.65 billion, sources said.

Mr Walton, 77, was an early front-runner in a crowded field of contenders vying for the first NFL team to go up for sale in four years. This included billionaires Josh Harris, co-founder of Apollo Global Management, and mortgage tycoon Mat Ishbia.

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