Walmart Heir Rob Walton Buys American Football Franchise Denver Broncos

Rob Walton, one of the heirs of Walmart Inc 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 noted Walmart chairman Greg Penner and his wife Carrie Walton Penner, who is Rob's daughter, are also included in the buyer's list.
The agreement is subject to approval from the NFL's finance committee and league ownership.
Price Action: WMT shares closed lower by 1.29% at $123.26 on Tuesday.
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