You might be able to buy low-priced food items all day long at Wal-Mart, but those minuscule profit margins for the company have done a very good job of making the Walton family rich.
So rich, and another member of the Sam Walton family tree is in line to buy a multi-billion dollar sports franchise. Reports say the man in the driver’s seat of attaining the winning bid for the Denver Broncos is Robson “Rob” Walton. He’s one of founder Sam Walton’s children, a 77-year-old with a net worth, according to Forbes, of around $70.4 billion.
He has made an offer of around $4 billion, and a New York Post report said Walton’s bid is the most attractive of the five that have come in.
Robert F. Smith is the richest Black billionaire in the United States, and reportedly the NFL would like to see his bid win. Smith is a Denver native but has been buried in IRS issues regarding investments into properties.
If Walton is the eventual owner of the Broncos, he’ll join family member Stan Kroenke as a professional sports team owner in the Walton clan. Kroenke owns not only the Super Bowl champion Los Angeles Rams but also the Denver Nuggets in the NBA ad the NHL’s Colorado Avalanche.
Rob’s cousin Ann is married to Kroenke.
The other bidders for the Broncos include an investment group led by Alec Gores, a Florida group led by Dean Metropoulos and Josh Harris of Global Management.
The Bronco’s value went up recently when they acquired quarterback Russell Wilson from the Seattle Seahawks, and they are a legit Super Bowl contender.
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