Rob Walton, the owner of the Denver Broncos, quietly acquired a 10% stake in the Arizona Diamondbacks two years ago, according to a report from Sportico editors Justin Birnbaum, Eben Novy-Williams, and Scott Soshnick. The arrangement was never publicly announced, and the majority of the proceeds were reportedly redirected toward stadium enhancements at Chase Field.
For perspective, a ten-figure investment may look enormous to many, but it’s relatively small air for Walton, whose net worth is estimated at around $146 billion by Forbes. As a son of Walmart founder Sam Walton, Rob and his siblings together own roughly 45% of Walmart’s outstanding shares, a company valued at well over $1 trillion in the market.
Walton’s foray into sports gained significant attention with his 2022 acquisition of the Broncos for $4.65 billion. Sportico notes that he is also an investor in TGL’s Motor City Golf Club. Despite his high-profile sports interests, the 81-year-old has gradually reduced his day-to-day involvement with both the Broncos and Walmart’s chairman duties over the past three years.
The Diamondbacks deal, if confirmed, could influence the trajectory of other major MLB transactions, particularly within the National League West. While minority sale prices typically reflect discounts or, on occasion, premiums, Walton’s move could set a precedent for future deals, including the Padres’ ongoing process to find a new controlling owner following Peter Seidler’s passing more than two years ago.
Sportico valued the Diamondbacks at about $2 billion at the time of Walton’s purchase. Ken Kendrick remains the D-backs’ principal owner and managing partner, having been part of the original ownership group that launched the team in 1995 before taking on the role of managing general partner in 2004.
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