Denver Broncos: Walton-Penner agree to record $4.65 billion sale price

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The Denver Broncos have agreed to sell the franchise to current Walmart heir Rob Walton and his family for a record-setting price tag.

In a statement, Broncos CEO and president Joe Ellis confirmed the sale agreement with Walton, 77, his daughter, Carrie Walton-Penner, and his son-in-law, Greg Penner.

"I have enjoyed getting to know Rob Walton, Carrie Walton-Penner and Greg Penner throughout this process,'' Ellis said Tuesday. "Learning more about their background and vision for the Denver Broncos, I am confident that their leadership and support will help this team achieve great things on and off the field."

Denver Broncos outside linebacker Von Miller (58) battles Los Angeles Rams offensive guard Tremayne Anchrum (72) during the first half of an NFL preseason football game, Saturday, Aug. 28, 2021, in Denver. (AP Photo/Jack Dempsey)

"I sincerely appreciate the cooperation of our football leadership, executive team and staffs at both UCHealth Training Center and Empower Field at Mile High over the last few months and years. We also want to recognize the work of Allen & Company and Proskauer Rose, which have guided us through this process in a timely and efficient manner," he added.

The exact terms of the sale were not disclosed, but 9News Denver reported that Walton will pay $4.65 billion for the franchise. That is more than double the most recent sale price for an NFL team, and it would establish a new record for the sale of an American sports franchise.

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Ellis clarified the agreement must still be approved, via NFL protocols, by a majority of current owners.

"While this