The Walton-Penner family will acquire ownership of the Broncos from the Pat Bowlen Trust with a winning bid of $4.65 billion for NFL Network’s James Palmer.
Both parties announced that the Denver Broncos and the Walton-Penner family had entered into a sale and purchase agreement to take over an NFL team.
“We are thrilled to have been selected to move forward with the purchase of the Denver Broncos!” Walton said in a statement late Tuesday evening.
“Carrie (Walton-Penner), Greg (Penner) and I are inspired to lead this great organization in a dynamic community full of opportunity and passionate fans.”
The purchase will require the approval of the NFL’s finance committee and the league’s owners.
“Learning more about [family’s] background and vision for the Denver Broncos, I am confident that their leadership and support will help this team achieve great success on and off the field,” added Broncos CEO and President Joe Ellis.
“Today marks an important step towards an exciting new chapter in Broncos history.”
Bowlen purchased the Broncos in 1984 and the franchise won three Super Bowls during his tenure. Bowlen’s trust took over after his death in 2019.
