Magic Johnson and Kanye West had their eyes set on a shiny new purchase in the form of an NFL franchise, but they ultimately lost out to Walmart heir Rob Walton.
The Lakers legend and hip hop icon had been in talks to purchase the Denver Broncos after it had gone up for sale, and while it came as an initial surprise to many people, reports of their involvement were quite serious.
Owning an NFL franchise is, of course, no small deal. It cost a record amount of money to purchase the Broncos, and the new owner is multi-billionaire himself.
The Broncos were ultimately sold for a whopping $4.65 billion which would make it the largest purchase of an American sports franchise in history.
Walmart heir Rob Walton had the winning bid. Walton’s net worth is estimated be around a massive $59 billion, showing how absurdly rich you’d have to be to even consider buying one of these teams.
— FOX Sports: NFL (@NFLonFOX) June 8, 2022
Kanye West and Magic Johnson ultimately lost out to Rob Walton
It’s unclear how deep Magic and Kanye’s bids got with the Broncos, but it’s definitely certain they wanted the franchise. Johnson was bidding as part of a group led by 76ers co-owner Josh Harris while Kanye was making his bid through his Donda Sports company. However, it’s unclear if Donda Sports ever brought a bid to the table.
Ultimately, Walton was able to win out, and he’s very excited about taking reigns of the Denver franchise.
“Having lived and worked in Colorado, we’ve always admired the Broncos,” Walton explained. “Our enthusiasm has only grown as we’ve learned more about the team, staff, and Broncos Country over the last few months. We look forward to earning the confidence and support of the NFL as we take the next step in this process. When the necessary approval procedures are met, our family is excited to share more with Broncos fans, the organization and the community.”
With Denver heading in a new direction this offseason, it’s an exciting time to own the franchise. Russell Wilson will be leading the Broncos, giving them their first competent quarterback since Peyton Manning donned the orange and blue.
Walton also now becomes the NFL’s richest owner, surpassing Panthers’ David Tepper at $16.7 billion.
The Denver Broncos and Rob Walton have entered into a purchase and sale agreement for the Walton-Penner family to acquire the team from the Pat Bowlen Trust, the team announced Tuesday night.https://t.co/SA0ccI2eUL pic.twitter.com/Z7M8PQ9iFF
— The Athletic (@TheAthletic) June 8, 2022