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NFL finance committee approves Walton-Penner $4.65 billion purchase of Broncos

Approval by vote of 32 NFL owners Aug. 9 is all but automatic with finance committee's recommendation.
Credit: AP
Outgoing Wal-Mart chairman Rob Walton, left, greets incoming chairman Greg Penner at the company shareholder meeting in Fayetteville, Ark., Friday, June 5, 2015. (AP Photo/Danny Johnston)

ENGLEWOOD, Colo. — Get out those rubber stamps.

Rob Walton and the Penners took another step towards becoming the next Broncos owners Wednesday when the NFL Finance Committee formally recommended their $4.65 billion purchase for NFL owners approval.

"The Finance Committee met today to review details of the proposed Denver transaction," NFL spokesman Brian McCarthy said in a statement to 9NEWS. "The committee unanimously recommended the transaction for membership approval. The committee will make a report to all 32 clubs at the special league meeting on August 9. At that time, the sale of the club will be voted upon by the full membership with 24 of 32 votes needed to approve the sale."

>>Video above: What does Rob Walton's wealth mean for the Broncos?

The Walton-Penner group is expected to receive rubber-stamp approval. Besides the great combined wealth of Walton, his daughter Carrie Walton Penner and son-in-law Greg Penner, the Broncos’ new ownership group also includes two prominent Black woman in Mellody Hobson and Condoleezza Rice. NFL commissioner Roger Goodell and the league’s finance strongly recommended diversity representation with its ownership group going forward, starting with the Broncos’ sale.

"We appreciate the dilligence and hard work of the National Football League's Finance Committee with its recommendation to approve our purchase of the Denver Broncos,'' Rob Walton said in a statement. "Today's vote marks an important milestone and we are excited for the next step involving all of the league's owners."

One vote of Walton approval is certain to come from Los Angeles Rams owner Stan Kroenke, who is related by marriage to the Waltons. Rob is the oldest of four children born and raised by Walmart founder Sam Walton and Helen Walton. Sam had one sibling, Bud, whose daughter Ann married Kroenke in 1974.

The special NFL owners meeting will be held in Minneapolis.

RELATED: How much impact will new owners Walton and Penner have on the 2022 Broncos?

RELATED: NFL owners to vote on Broncos' $4.65 billion sale Aug. 9

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