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It takes quite a bit of capital to buy an American sports team, and the impending sale of the Denver Broncos proves that point.
According to ESPN’s Jeff Legwold, the Broncos entered a sale agreement Tuesday with the Walton-Penner family ownership group for $4.65 billion. The sale is subject to review by the NFL’s finance committee, and 24 league owners need to vote yes for the transaction to be approved.
The Walton-Penner group includes Rob Walton, his daughter Carrie Walton Penner and her husband Greg Penner. The ownership group also includes Mellody Hobson, co-CEO of Ariel Investments, chair of the board of the Starbucks Corp. and a director at JP Morgan Chase. Walton is an heir to retail company Walmart’s fortune and served as the business’ chairman from 1992 to 2015.
Read More: Everything you need to know about the Broncos sale
The historic sale of the Broncos got us thinking of some other landmark team purchases in American sports.
Here’s a list of some of the most expensive franchise purchases in U.S. sports:
Sale price: $4.65 billion
The Walton-Penner group’s pending $4.65 billion purchase of the Broncos breaks the previous record sale price for an NFL team by a wide margin. Former Carolina Panthers owner Jerry Richardson sold the franchise to billionaire David Tepper for $2.275 billion in 2018. It’s also over $2 billion more than the next closest U.S. sports team sale.
Walton’s net worth is $57.9 billion, according to Forbes. His cousin and another Walmart heir, Ann Walton, is the wife of Los Angeles Rams owner Stan Kroenke. Kroenke also owns three Colorado sports teams: the NBA’s Denver Nuggets, NHL’s Colorado Avalanche and MLS’s Colorado Rapids.
Sale price: $2.4 billion
The Mets had the honor of having the most expensive team sale in American sports until the Broncos came along. In 2020, hedge fund manager Steve Cohen purchased the Mets for $2.4 billion. The Los Angeles Dodgers previously held the mark for the most…
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Source : espn
