The Latest Breaking News from Greg Penner

The NFL’s 32 teams will vote on the sale next month as part of the next step.

The Broncos entered into a sale agreement with the group led by Rob Walton and Greg Penner late Tuesday night. How did the franchise get to this point? A timeline:

DENVER — Who is a part of the new Broncos’ ownership group? A look at the four key individuals:

DENVER — Less than 48 hours after a second round of bids to buy the Broncos were filed, the team announced late Tuesday night that they have entered into a purchase and sale agreement with a group headed by billionaire Rob Walton and his son-in-law, Greg Penner.

Rob Walton will become the Broncos' new majority owner, but Greg and Carrie Penner are expected to handle the team's day-to-day operations.

"Having lived and worked in Colorado, we’ve always admired the Broncos. Our enthusiasm has only grown as we’ve learned more about the team, staff and Broncos Country over the last few months."

"I am confident that their leadership and support will help this team achieve great things on and off the field," Joe Ellis said of the new Walton-Penner ownership group.

Rob Walton, one of the heirs of Walmart Inc (NYSE:WMT) fortune, has agreed to acquire the American football franchise, Denver Broncos. The deal was sealed for $4.65 billion, the Wall Street Journal reported. The purchase and sale agreement calls for the Walton-Penner family to acquire the Denver Broncos from the Pat Bowlen Trust. The report…

A group led by Walmart heir Rob Walton has agreed to purchase the Broncos for $4.65 billion. The sale is subject to NFL approval.

The price tag far surpasses the $3.1 billion sale last month of Chelsea FC, one of Europe’s premier soccer clubs.

Rob Walton is the billionaire heir to superstore chain Walmart and is related to current Rams owner Stan Kroenke through marriage.