Rob Walton submits NFL-record $4.65 billion bid for Broncos

The second round of bids for the Denver Broncos came through, and the long-rumored front-runner remained ahead in the race. Rob Walton‘s group submitted a $4.65 billion bid to buy the AFC West franchise, Mike Klis of 9News reports. The group enters a sales agreement, one expected to lead to the Broncos having new owners ahead of the 2022 season.

That price shatters the NFL record set by David Tepper when he bought the Carolina Panthers for $2.3 billion in 2018. It also breaks the American sports record by more than $1M. Walton, his daughter Carrie Walton Penner and son-in-law Greg Penner will take over a Broncos franchise that had been in Pat Bowlen‘s family from 1984 until it went on the market in February. Although the Broncos have been run by the Pat Bowlen Trust for years, disagreements among the late owner’s children led to the team going up for sale.

Walton’s group beat out the Josh Harris- and Magic Johnson-fronted contingent, along with those headed by Mat and Justin Ishbia and Jose Feliciano. All four finalists submitted bids Monday, but Walton’s won out.

“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Broncos CEO and president Joe Ellis said in a statement. “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.”

This transaction’s next step will be an NFL finance committee review. A three-fourths approval among other owners will greenlight Walton’s transition to becoming the Broncos’ next owner. Tepper’s Panthers purchase garnered a 32-0 vote. Walton’s acquisition is not expected to be met with resistance. A special convening between NFL owners is expected to commence within a month, Klis notes.