Walton Flexes $59 Billion Fortune, Agrees to Buy NFL Broncos (2)

A group led by Rob Walton, the son of Walmart Inc. founder Sam Walton, agreed to buy the National Football League’s Denver Broncos in what would be the largest amount ever paid for a US professional sports team.

Rob Walton

Source: Getty Images North America

Walton’s group includes his daughter Carrie and her husband, Greg Penner, along with Mellody Hobson, co-chief executive officer of Ariel Investments, the two sides said in a joint statement Tuesday. The deal, which needs approval from the NFL’s finance committee and league ownership, was worth $4.65 billion, according to a person familiar with the matter.

Walton, 77, was ...