Broncos enter into sale agreement with Walton-Penner family to purchase franchise

JUST IN: Broncos enter into purchase agreement with Walton-Penner family:

Less than 48 hours after a second round of bids to buy the Broncos were filed, the team announced late Tuesday night that they have entered into a purchase and sale agreement with a group headed by billionaire Rob Walton and his son-in-law, Greg Penner.

“We are thrilled to be selected to move forward with the purchase of the Denver Broncos,” Rob Walton said in a statement. “ inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans. The Walton group announced that Mellody Hobson, a Black woman who is president and CEO of Ariel Investments, will also be a part of the ownership group.

The next step in the process is meeting with the NFL’s Finance Committee. If that group of owners approves of the sale, they will pass it onto a full ownership group vote . Ellis set the start of the regular season as a goal to have a new owner in place.

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