Less than 48 hours after a second round of bids for ownership of the Broncos were filed, the team announced late Tuesday night that they have entered into a purchase and sale agreement with a group headed by billionaire Rob Walton and his son-in-law, Greg Penner.
The Walton-Penner Family Ownership Group’s bid was chosen over those submitted by Josh Harris, Mat Ishbia and Jose Feliciano.
The Walton group announced that Mellody Hobson, a Black woman who is president and CEO of Ariel Investments, will also be a part of the ownership group.
In a statement, Broncos president/CEO Joe Ellis said: “I am confident that their leadership and support will help this team achieve great things on and off the field.