The Walton-Penner ownership group is about to officially acquire the Denver Broncos.
The terms of the agreement were not disclosed by the organization, which will pass from the hands of the Pat Bowlen Trust to the group led by Walmart heir Rob Walton. He is the son of founder Sam Walton.
However, a source confirmed to ESPN that the cost of the sale will be $4.65 billion, a record sum for the purchase of a North American team.
The NFL Finance Committee and league owners must approve the sale. A total of 24 votes in favor are required.
« We are excited to complete the acquisition of the Denver Broncos, » Rob Walton said in a statement late Tuesday night.
« Today begins a great chapter in the history of the Broncos, » said President Joe Ellis.