Rob Walton, son of late Walmart founder Sam Walton, is reportedly bidding more than $4 billion to buy the Denver Broncos.

Opening bids for the Broncos were reportedly due on Friday and would only be accepted if they were above the $4 billion threshold. The price tag is a mere fraction of Walton’s $70 billion worth, making him a favorite to buy the team.

NFL owners are not allowed to put more than $1 billion in debt on a team and must put down at least 33% of the equity.

A previous report suggests that the team’s final sale will land between $4.5 billion and $5.5 billion.

• Philadelphia 76ers and New Jersey Devils owner Josh Harris was expected to submit a bid.
• Reports suggest the NFL was courting Robert F. Smith, the richest Black man in America, to buy the team. 
• Entertainment Studios’ Byron Allen said he was preparing an offer in February. Allen or Smith would become the league’s first Black owner should either win.

Walton’s brother-in-law is Stan Kroenke, owner of the Los Angeles Rams and former owner of the NBA Nuggets and NHL Avalanche.

A Pretty Penny

The estimated bidding price would make the Broncos sale the highest amount ever paid for an American professional sports team. David Tepper purchased the Carolina Panthers in 2018 for $2.2 billion, and Joe Tsai bought the Brooklyn Nets in 2019 for $2.3 billion.

The Washington Nationals are exploring a sale, among other options, managing principal owner Mark D. Lerner announced on Monday. 

Allen & Company — the firm that handled the sale of New York Mets, netting an MLB-record $2.4 billion in 2020 — has been retained as part of what Lerner described as an “exploratory process” that could result in a sale of the franchise valued at $2 billion. 

Real estate developer Ted Lerner, 96, purchased the Nationals for $450 million in 2006, the team’s first season in the nation’s capital after the franchise relocated from Montreal. Lerner transferred day-to-day oversight of the team to his son Mark in 2018. 

Lerners’ Success in D.C. 

Washington lost three MLB teams in its history and had been without baseball since the Senators moved to Texas to become the Rangers after the 1971 season. 

• After three seasons at RFK Stadium, the team moved to the 41,418-seat Nationals Park. The $693 million stadium was publicly financed and owned by the Washington Convention and Sports Authority. 
• Under the Lerners, the Nats won the 2019 World Series. 
• After trading ace pitcher Max Scherzer and shortstop Trea Turner last season, plus losing players like Anthony Rendon to free agency after the title run, the team is currently in a rebuilding phase. 

Mark Lerner said “there is no set timetable or expectation of a specific outcome” in his statement.

Chelsea FC bidders were given an extra three days to submit their offers, and Stephen Pagliuca is using the time to his advantage — the Boston Celtics co-owner has recruited NBA chairman Larry Tanenbaum as a backer.

The Canadian is chairman of Maple Leaf Sports and Entertainment, the company that owns Toronto FC, the Maple Leafs, the Raptors, and the Argonauts.

• Tanenbaum joins Pagliuca’s group of investors that reportedly include Passport Capital founder John Burbank and Facebook co-founder Eduardo Saverin. 
• Former Disney executive Bob Iger was also said to be approached about joining the bid.

Pagliuca would have to offload his stake in Serie A’s Atalanta if his Chelsea bid is successful.

The other bidders include a consortium led by Los Angeles Dodgers, Lakers, and Sparks owner Todd Boehly, a group led by Sports Investment Partners chairman Sir Martin Broughton, and a consortium led by the Ricketts family, who own the Chicago Cubs.

Abramovich’s Soccer Switch

Roman Abramovich put the team up for sale as he was sanctioned by the U.K. government for his ties to Vladimir Putin, but that hasn’t cooled his interest in buying soccer teams. The oligarch is reportedly looking to purchase La Liga’s Valencia club once the Chelsea FC sale is completed, according to a rival bidder.

Tanenbaum’s addition is thought to be attractive to Abramovich due to his work combating antisemitism, though the government is reportedly satisfied with all four bidders.