Denver Broncos owner Rob Walton bought a 10% ownership stake of the Arizona Diamondbacks two years ago, according to Sportico’s Justin Birnbaum, Eben Novy-Williams and Scott Soshnick.
Walton’s purchase was never publicly announced. “The bulk of the proceeds” was used for stadium improvements at Chase Field.
While a (10)-figure check may seem outsized for some investors, it’s chump change for Walton, who is now worth roughly $146 billion, according to Forbes. The son of Walmart founder Sam Walton, Rob and his fellow heirs collectively own around 45% of outstanding shares in the retail giant, which currently has a market cap north of $1 trillion.
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Walton, who is the son of Walmart founder Sam Walton, made a big splash in sports with his purchase of the Broncos in 2022 for $4.65 billion.
According to Sportico, he’s also an investor for the TGL’s Motor City Golf Club. While he has invested in sports teams, the 81-year-old Walton has pulled back his involvement with the Broncos and with Walmart’s chairman in the past three years.
The reported addition of the D-backs to his sports portfolio could also have an impact on another NL West team.
… while minority sales tend not to reflect control sale prices — because discounts or, in some cases, premiums are applied — Walton’s Diamondbacks deal could have a cascading effect on the next major transaction in MLB. The San Diego Padres are currently on the market, over two years after the death of control owner Peter Seidler.
Sportico reports the Diamondbacks franchise had a $2 billion valuation at the time of Walton’s purchase.
Ken Kendrick serves as the D-backs’ principal owner and managing partner.
He was a part of the original ownership group that founded the team in 1995 before taking over as managing general partner in 2004.
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