The final bids to purchase the Denver Broncos were due on Monday and by late Tuesday afternoon, the team announced they had entered into a purchase and sale agreement with a group headed by billionaire Rob Walton and his son-in-law Greg Penner. The reported sale price was $4.65 billion, an all-time record for an American sports franchise. The Walton-Penner Family Ownership Group’s bid was chosen over those submitted by Josh Harris, Mat Ishbia and Jose Feliciano. The Walton-Penner group announced that Mellody Hobson, who is president and CEO of Adel Investments and chairwoman of Starbucks Corporation, and is married to George Lucas, will also be a member of the ownership group. Twenty-four of the 32 owners of National Football League teams must approve of the sale.