BRONCOS SELL FOR A REPORTED $4.65B
The Walton family has won the bidding to purchase the Denver Broncos in the most expensive deal for a sports franchise anywhere in the world.
The Broncos announced late Tuesday night they had entered into a sale agreement with the Walton-Penner ownership group led by Walmart heir Rob Walton, his daughter, Carrie Walton Penner, and her husband, Greg Penner.
Terms of the sale weren’t disclosed, but KUSA-TV in Denver reported it was for $4.65 billion.
The price tag far surpasses the $3.1 billion sale last month of Chelsea, one of European soccer’s blue ribbon teams, to an American-led consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.
Boehly reportedly was among the investors with one of the five finalists who were invited to make bids for the Broncos by Monday’s deadline.
The agreement for the Walmart-Penner group to buy the franchise from the Pat Bowlen Trust must be approved by the NFL, but that is considered a formality.
“While this purchase and sale agreement is pending approval from the NFL’s finance committee and league ownership, today marks a significant step on the path to an exciting new chapter in Broncos history,” team president and CEO Joe Ellis said in a statement.
Kupp on deck
The Rams took care of
quarterback Matthew Stafford and defensive lineman Aaron Donald, giving both cornerstone players massive contracts.
Next up: Cooper Kupp. The five-year veteran is coming off a historic season. He led the NFL in receptions, yards receiving and touchdown catches, becoming the first player since 2005 to achieve the so-called triple crown.
Kupp was named NFL offensive player of the year, and then caught two touchdown passes — including the gamewinner — in the Rams’ Super Bowl LVI victory over the Cincinnati Bengals at SoFi Stadium, earning MVP honors.
Less than two years after Kupp signed an extension that included about $21 million in guarantees, Rams coach Sean McVay and General Manager Les Snead said Kupp has earned a new contract.
But how much are the Rams willing to spend?
Donald — for the second time in his career — reset the market for elite defensive players Monday when he signed a deal that reportedly gives him a $40 million raise over the next two seasons and makes him the highest-paid nonquarterback in NFL history.
Kupp’s performance last year would appear to position him for the richest contract for a receiver in league history.
In recent months, the Miami Dolphins gave Tyreek Hill a contract that includes $72 million in guarantees, according to overthecap.com. Buffalo Bills receiver Stefon Diggs got $70 million in guarantees. The Las Vegas Raiders gave Davante Adams $66 million in guarantees.
Kupp was asked Tuesday if he was seeking a deal that would reset the market for receivers.
“No,” he said after the first practice of a mandatory minicamp, adding, “I’m not trying to compare myself. I’m not trying to say, ‘OK, well where was Tyreek at? All those guys that got deals, where were all those guys at? And I need to be higher than them in certain places.’ ”
After the Super Bowl, the Rams quickly reached agreement with Stafford on a deal that could be worth as much as $160 million. It took longer with Donald, but the Rams and the three-time NFL defensive player of the year found common ground that culminated with Donald signing a restructured deal.
Notable
Ravens rookie safety Kyle Hamilton, the team’s top pick in April’s NFL Draft, signed his rookie contract. The fouryear deal is believed to be one of the biggest in franchise history for a first-year player.
Hamilton, the No. 14 overall pick, will receive a fully guaranteed $16.3 million, according to the NFL Network, including a $9 million signing bonus.
• All-Pro receiver Deebo Samuel ended his offseason holdout and avoided a nearly $100,000 fine by reporting for the first day of mandatory minicamp for the San Francisco 49ers.
• Wide receiver DK Metcalf was absent from the first day of Seattle Seahawks minicamp as he continues to seek a new contract from the team.
• Back surgery will keep Colts linebacker Darius Leonard out of this week’s mandatory minicamp and at least part of training camp.