{"id":3108,"date":"2022-06-09T12:39:35","date_gmt":"2022-06-09T10:39:35","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=3108"},"modified":"2022-06-09T12:49:05","modified_gmt":"2022-06-09T10:49:05","slug":"mellody-hobson-part-of-group-buying-denver-broncos","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2022\/06\/09\/mellody-hobson-part-of-group-buying-denver-broncos\/","title":{"rendered":"Mellody Hobson part of group buying Denver Broncos"},"content":{"rendered":"
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Mellody Hobson. Picture: Bloomberg<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The price is likely to be the highest ever paid for a U.S. professional sports team.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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(Bloomberg)\u2014A group led by Rob Walton, the son of\u00a0Walmart Inc.<\/a>\u00a0founder Sam Walton, agreed to buy the National Football League\u2019s Denver Broncos for an amount that\u2019s likely to be the highest ever paid for a US professional sports team.\u00a0<\/p>

Walton\u2019s group includes his daughter Carrie and her husband, Greg Penner, along with Mellody Hobson, co-chief executive officer of Ariel Investments, the two sides said in a joint statement Tuesday. They didn\u2019t disclose terms for the deal, which needs approval from the NFL\u2019s finance committee and league ownership. The offer was worth $4.65 billion, ESPN reported, citing NFL sources it didn\u2019t identify.\u00a0<\/p><\/div><\/div><\/div>

Walton, 77, was an early frontrunner in a crowded field of contenders vying for the first NFL team to go up for sale in four years, which included billionaires Josh Harris, co-founder of Apollo Global Management Inc., and mortgage mogul Mat Ishbia. But the former\u00a0Walmart\u00a0chairman has vastly more money to deploy: He\u2019s the 17th-richest person in the world with a net worth of $58.7 billion, according to the Bloomberg Billionaires Index. \u00a0<\/p>

Hobson joins the group at a time of increased focus on the lack of representation among owners in the 102-year-old National Football League, where 7 out of 10 players are Black, yet no Black person has ever held a majority stake in a team.<\/p>

The Broncos\u2019 longtime owners, the Bowlen family, put the team up for sale in February on the same day that former Miami Dolphins head coach Brian Flores filed a class-action lawsuit alleging racism in the NFL\u2019s process for hiring coaches.<\/p>

About a week later, NFL Commissioner Roger Goodell said the league wanted to make it easier to enable Black ownership. But the steep price of NFL franchises, combined with rules that limit the use of debt and require the primary franchise owner to have a 30% stake in the team, mean only a small circle of people can afford to bid.<\/p>

Media mogul Byron Allen publicly said he was looking to buy the Broncos. Robert Smith, founder of private equity firm Vista Equity Partners, who has an $8.9 billion fortune, wasn\u2019t interested in bidding for his hometown team.<\/p>

The reported price tag for the Broncos would be the largest for a US sports franchise, surpassing the $3.3 billion sale of the NBA\u2019s Brooklyn Nets to Alibaba Group Holding Inc. co-founder Joe Tsai in 2019 and David Tepper\u2019s 2018 purchase of the NFL\u2019s Carolina Panthers for $2.3 billion. It would be the second major deal of late, after English soccer team Chelsea FC was sold last month for \u00a34.25 billion ($5.3 billion) to US investor Todd Boehly, who had backing from private equity firm Clearlake Capital.<\/p>

An NFL team would be an unusually high-profile purchase for one of the Waltons, whose family has historically avoided flashy assets in keeping with patriarch Sam Walton\u2019s legendary thrift. Fewer than a dozen NFL franchises have changed hands over the past two decades, with its owners including several of the US\u2019s richest people, including Stephen Ross, Jerry Jones and Stan Kroenke.\u00a0<\/p>

Hobson is the chair of Starbucks Corp. and on the board of Bloomberg Philanthropies, the philanthropic organization of Michael Bloomberg, the founder and majority owner of Bloomberg LP, which owns Bloomberg News. She\u2019s married to George Lucas, the \u201cStar Wars\u201d creator who has a net worth of $7.1 billion, according to the Bloomberg wealth index.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Source : chicagobusiness.com<\/a><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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(Bloomberg)\u2014A group led by Rob Walton, the son of Walmart Inc. founder Sam Walton, agreed to buy the National Football League\u2019s Denver Broncos for an amount that\u2019s likely to be the highest ever paid for a US professional sports team. 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Mellody Hobson part of group buying Denver Broncos<\/a><\/blockquote>