The Latest Breaking News from Sam Walton

Editor's note: This story has been edited to reflect an update by Forbes to Tesla CEO Elon Musk's philanthropy ranking that removed him from the list of the least generous billionaires. Original publication: 2018. For the first time, the Forbes 400 list includes a generosity ranking.

The new ownership group is led by former Walmart chairman Rob Walton.

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.

The 76ers co-owner was reportedly never assured his offer price would assure him ownership of the Broncos.

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.

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

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With an estimated net worth of $70.5 billion, Rob Walton could easily outbid any of the other known candidates who are interested in buying the Broncos.