Rob Walton has the winning bid to purchase the Denver Broncos for $4.5 billion, according to Mike Ozanian of Forbes.
The sale, which is expected to be formally announced as soon as this month, would be the largest of any sports franchise in history.
Bleacher Report @BleacherReport
Walmart heir Rob Walton will buy the Denver Broncos with a winning bid of $4.5 billion, per <a href="https://twitter.com/Forbes?ref_src=twsrc%5Etfw">@Forbes</a> <br><br>It will be the most expensive sale of any sports franchise <a href="https://t.co/mrYd1ycEpn">pic.twitter.com/mrYd1ycEpn</a>
ESPN's Adam Schefter reported the process is ongoing and that "no favorite has emerged at this time."
Walton, an heir to the Walmart fortune, has an estimated net worth of $59.1 billion, per Forbes, making him the 22nd-richest person in the world. The 77-year-old is the eldest son of Walmart founder Sam Walton and served as the company's chairman from 1992 to 2015.
His daughter, Carrie, and son-in-law, Greg Penner, would also join the ownership group.
The sale would blow away the NFL record set in 2018 when David Tepper purchased the Carolina Panthers for $2.275 billion. A consortium led by Todd Boehly set a new worldwide record last month when it bought the Premier League club Chelsea for $3.2 billion.
The Broncos were valued at $3.75 billion by Forbes last year, but a bidding war has raised the price.
Mike Klis of 9News previously reported the known candidates, including Philadelphia 76ers governor Josh Harris:
Mike Klis @mikeklis
Source: 2nd round bids to buy Broncos are due by MONDAY. 4 groups expected to make bids:<br>1. Rob Walton-Greg Penner<br>2. Josh Harris<br>3. Jose E. Feliciano (with Behdad Eghbali and Todd Boehly)*<br>4. Matt Ishbia (with Justin).<br>Byron Allen is 5th group but considered longshot. <a href="https://twitter.com/hashtag/9sports?src=hash&ref_src=twsrc%5Etfw">#9sports</a>
It created a major increase from the $78 million that Pat Bowlen spent on the franchise in 1984.
Rob Walton appears poised to take over a franchise with a rich history and three Super Bowl titles, the most recent coming in the 2015 season.