The Denver Broncos made headlines with their reported agreement to sell their franchise on Wednesday morning.
The Pat Bowlen Trust group has agreed to sell the Broncos to the Walton-Penner family for a record-setting price. The team is being sold for $4.65 billion — a record sale for a North American team.
“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Broncos President and CEO Joe Ellis wrote in an announcement Wednesday. “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.”
The sale is being temporarily held up by the NFL’s financial committee and the league’s owners, who need to approve of the sale.