NFL owners unanimously approved the sale of the Denver Broncos Tuesday from the Pat Bowlen Trust to the Walton-Penner family.
The purchasing group is headed by Walmart heir Rob Walton, his daughter Carrie Walton Penner and her husband Greg Penner, the chairman of Walmart.
NFL commissioner Roger Goodell said all 32 teams voted to approve the sale that the Broncos and the buyers announced in June.
“We are grateful for the support and trust of the National Football League and the 31 other teams with today’s vote,” Rob Walton said in a statement Tuesday.
“It’s a responsibility and privilege to serve as stewards of such an iconic franchise,” he said. “We have tremendous respect for what Pat Bowlen has meant to the Broncos and look forward to building on this organization’s championship legacy.”
The new Broncos ownership group includes former Secretary of State Condoleezza Rice, seven-time Formula One world champion Lewis Hamilton and Ariel Investments President and co-CEO Mellody Hobson.
The purchase price was not announced by the team nor the NFL but according to ESPN, the deal is worth $4.65 billion – a record price tag for a North American sports franchise.