$4.65 billion, why this NFL “belly” deal made sports history
Last week saw the biggest club deal in American sports history.
Rob Walton led the Walton-Penner family group to buy the NFL team Denver Broncos for $4.65 billion. That deal nearly doubled the previous record, the $2.4 billion Steve Cohen paid for the New York Mets and the $2.35 billion that Cai Chongxin paid for the Brooklyn Nets.
The eldest son of Wal-Mart founder Sam Walton, Rob Walton is one of the twenty richest people in the world. Why is he, who is worth nearly $60 billion, willing to pay such a high price for a fish-belly team that has missed the playoffs for six consecutive seasons?
Is there a possibility that this is not a pure sports investment?
First, let’s briefly talk about the protagonist of the deal, Rob Walton, and his relationship with another sports boss, Stan Kroenke.
Kroenke, who owns professional teams such as Arsenal, Los Angeles Rams, Denver Nuggets, etc., is one of the biggest names in the sports world.
Rams win Super Bowl, Kroenke is the biggest winner
But don’t forget that behind Kroenke is the wealthy Walton family. His wife, Ann Walton Kroenke, is the daughter of Wal-Mart founder Sam Walton’s brother Bud, and Rob Walton is Kroenke’s cousin and the direct heir to the billion-dollar property.
After the sale of the Broncos, the 77-year-old Walton became the NFL’s richest team owner in one fell swoop. His worth is almost the sum of the six richest NFL owners before: Black Panthers owner David Tepper, Rams owner Stan W. Kroenke, Cowboys owner Jerry Jones, Patriots owner Robert Kraft, Dolphins owner Stephen Ross and Jaguars owner Shahid Khan.
Therefore, without joking, in terms of seniority and worth, Kroenke is really a “younger brother” in front of Rob.