The buzz has been around for a few days and late Tuesday the Denver Broncos took to social media to make things official.
Team ownership has entered into an agreement to sell the team. The price tag is believed to be $4.65 billion, a U.S. sports-franchise record.
The purchase and sale agreement calls for the Walton-Penner family to acquire the Denver Broncos from the Pat Bowlen Trust. The agreement is subject to approval from the NFL’s finance committee and league ownership as well as the satisfaction of customary closing procedures.
The Denver Broncos and the Walton-Penner family have entered into a purchase and sale agreement to acquire the team.
Statements: pic.twitter.com/tMcfuAifeS
— Denver Broncos (@Broncos) June 8, 2022
Pat Bowlen was 40 years old when he purchased the Broncos for $78 million in March of 1984.