Reported $4.6bn price for American football franchise would be record for any team in sport
Billionaire Rob Walton, the heir to the Walmart retail fortune, has agreed to buy the Denver Broncos American football franchise for a reported sum of $4.6bn, a record for a sports team, as deep-pocketed investors pour cash into the sector.
Walton has a net worth of roughly $58bn, according to Forbes. He is the former chair of Walmart, the US retail group founded by his father, Sam Walton, in 1962.
The Broncos did not disclose financial details. According to the Wall Street Journal and Sportico, the Walton-led group is paying roughly $4.6bn to acquire the team. That price far exceeds the $2.2bn paid by hedge fund manager David Tepper for the Carolina Panthers in 2018.
Read more: FT
