Rob Walton Submits NFL-Record $4.65 Billion Bid For Broncos
The second round of bids for the Denver Broncos came through, and the long-rumored frontrunner remained ahead in the race. Rob Walton‘s group submitted a $4.65 billion bid to buy the AFC West franchise, Mike Klis of 9News reports. The group enters a sales agreement, one expected to lead to the Broncos having new owners ahead of the 2022 season.
That price not only shatters the NFL record — one David Tepper set when he bought the Carolina Panthers for $2.3 billion in 2018 — but breaks the American sports record by more than $2 billion. Walton, his daughter Carrie Walton Penner and son-in-law Greg Penner — all Walmart family heirs — will take over a Broncos franchise that had been in Pat Bowlen‘s family from 1984 until it went on the market in February. Although the Broncos have been run by the Pat Bowlen Trust for years, disagreements among the late owner’s children led to the team going up for sale.
Walton’s group beat out the Josh Harris– and Magic Johnson-fronted contingent, along with those headed by Mat and Justin Ishbia and Jose Feliciano, respectively. All four finalists submitted bids Monday, but Walton’s — unsurprisingly, as his approximately $70 billion net worth puts him in line to become the NFL’s richest owner — won out. Walton’s net worth more than triples Tepper’s. The Panthers owner’s $16.7 billion worth currently leads the league. Rob Walton, 77, is the oldest son of the late Walmart founder, Sam Walton.
“I have enjoyed getting to know Rob Walton, Carrie Walton Penner and Greg Penner throughout this process,” Broncos CEO and president Joe Ellis said in a statement. “Learning more about their background and vision for the Denver Broncos, I am confident that their leadership and support will help this team achieve great things on and off the field.”
This transaction’s next step will be an NFL finance committee review. A three-fourths approval among other owners will greenlight Walton’s transition to becoming the Broncos’ next owner. Tepper’s Panthers purchase garnered a 32-0 vote. Walton’s acquisition is not expected to be met with resistance. A special convening between NFL owners is expected to take place in July, Klis notes. Walton appears set to be the Broncos’ controlling owner. But his daughter and son-in-law, along with Arial Investments co-CEO Mellody Hobson, will play roles.
All four ownership groups reached out to Peyton Manning, who had expressed interest in being part of the franchise’s next group. John Elway had as well. It is unclear as of Tuesday night if the Hall of Fame quarterbacks will move forward with a Walton-run franchise. Elway, the team’s GM from 2011-20, currently serves as a consultant to GM George Paton.
Injury Notes: Beathard, Glasgow, Jones, Texans, Bengals
The Jaguars number-two QB went down with an injury yesterday. C.J. Beathard was carted off the field during OTAs, per NFL Network’s Tom Pelissero (on Twitter). According to the reporter, Beathard suffered a groin injury, and an impending MRI will reveal the extent of the injury.
The former third-round pick spent the first four years of his career with the 49ers. Beathard went 2-10 as a starter, completing 58.6 percent of his passes for 3,469 yards, 18 touchdowns, and 13 interceptions. He signed a two-year, $5MM deal with the Jaguars last offseason, and he got into two games as Trevor Lawrence‘s backup, completing his pair of pass attempts.
If Beathard is forced to miss an extended amount of time, the Jaguars will likely turn to Jake Luton or rookie EJ Perry as Lawrence’s primary backup.
More injury news from around the NFL…
- Broncos lineman Graham Glasgow broke his ankle last November, but the veteran is back at practice and is competing to regain his starting spot. “I’m no stranger to competition,’’ Glasgow said (via Mike Klis of 9News in Denver). “I’ve competed in the past and I’ve competed for starting jobs in the past. This whole offseason, I’ve been competing with myself to get better in my rehab stuff. If I’m healthy, I’m just going to go out there and do what I can and do what I do. We’ll see what comes out of that.” The 29-year-old guard/center has started 78 of his 82 career games, but Klis notes that Quinn Meinerz and/0r Netane Muti could push him for a starting gig.
- Daniel Jones is apparently over his neck injury. Giants head coach Brian Daboll told reporters that if the season started today, then the Giants starting QB would be fully cleared to play (per Dan Duggan of The Athletic on Twitter). After going 4-7 in his 11 starts, Jones missed the final six games of the 2021 campaign with a neck injury. Despite his struggles, the former sixth-overall pick is expected to keep his starting gig in 2022, although the organization did bring in veteran Tyrod Taylor as competition.
- Texans wideout DaeSean Hamilton is set to have knee surgery tomorrow, reports Aaron Wilson of ProFootballNetwork.com (on Twitter). The receiver suffered the injury during a non-contact drill, but he didn’t tear his ACL and is expected to make a full recovery at some point during the regular season. Hamilton was a fourth-round pick by the Broncos in 2018, and he only missed a pair of games through his first three seasons. He missed the entire 2021 season with a torn ACL, and he caught on with the Texans back in March. The 27-year-old has 81 receptions in 46 games.
- Bengals defensive tackle Tyler Shelvin suffered a wrist injury that will shut him down for the rest of the offseason program, per the team’s website. Coach Zac Taylor told reporters that the former fourth-round pick avoided a serious injury, but the player still needed to go under the knife to repair the ailment. Shelvin got into three games as a rookie, collecting four tackles.
Latest On Broncos Ownership Bid Process
With today’s deadline for second-round bids on the Broncos having come and gone, there are are few interesting developments regarding the ongoing sales process. Given what has already been reported on the subject, neither come as much of a surprise. 
With the four remaining groups having placed their bids this afternoon, the prospective owner seen as the favorite to ultimately take over the team is the same as it has been presumed for some time now. Troy Renck of Denver7 reports that Walmart heir Rob Walton “remains the clear frontrunner” to win the bidding process (video link). He adds that Walton’s bid “could be upwards of $4.5B”. Walton has been seen as the likeliest candidate for months, and that figure would fall in line with the expected value of the team.
Walton – who, Renck also notes would become the NFL’s all-time wealthiest owner should he be successful – is competing against three other bidders. Those groups are led by 76ers and Devils owner Josh Harris, whose party also includes Magic Johnson, the trio of soon-to-be Chelsea owners which would be led by Jose Feliciano, and brothers Mat and Justin Ishbia. Up until this second round of bidding, media mogul Byron Allen was still in the running, but only the four finalists participated today. The process could very well be complete by the end of the month.
Regardless of who becomes the next owner, they could recruit a familiar face as part of the beginning of their tenure overseeing the franchise. Mike Klis of 9News reports that all four of the finalists have spoken to Peyton Manning “to gauge his interest” in becoming a minority owner or advisor to the team. The Hall of Fame QB has previously made it clear doing so is a distinct possibility, though that was before the identities of the prospective buyers were known. Klis adds that there is “no word” on what Manning is currently planning with respect to any potential role in the new ownership group.
With another key checkpoint being reached in the sales process, the exact terms of the pending deal – and the particulars of who will be involved in the new regime – will remain worth watching for in the coming days and weeks.
Broncos LB Jonas Griffith Taking First-Team Reps
Broncos inside linebacker Jonas Griffith, who signed with the 49ers as an undrafted free agent in April 2020, was waived before the start of the regular season that year. He had a brief stint with the Colts’ taxi squad in October 2020 and rejoined the Niners as a member of their p-squad after being cut by Indianapolis, and though he did not play a regular season snap, he did enough in practice to earn a reserve/futures deal from San Francisco in January 2021.
Broncos GM George Paton, who was in search of LB depth and who apparently saw something in Griffith’s preseason tape in 2021, swung a minor trade for the Indiana State product just before the 2021 campaign got underway. Griffith was used exclusively on special teams to start the season and suffered a hamstring injury that cost him four games, so he did not take a defensive snap until Week 14. Once he got on the field as a defender, though, he made an impact.
In his last five games (four starts), Griffith compiled 45 tackles, including four for loss, and as Ryan O’Halloran of the Denver Post notes, the 25-year-old ‘backer missed just one tackle and was also credited with 5.5. run “stuffs.” Though the sample size was small, the 69.1 overall grade that Pro Football Focus assigned to Griffith was encouraging as well.
Perhaps that explains the Broncos’ approach to the inside linebacker position this offseason. Denver re-signed starter Josey Jewell and added former Eagle Alex Singleton in March, but the size of Singleton’s contract (one-year, $1.115MM) suggests that he is not necessarily viewed as an every-down contributor. Meanwhile, 2021 third-rounder Baron Browning has been moved to outside linebacker, players like Alexander Johnson, Kenny Young, and Micah Kiser were not retained, and the team did not draft an ILB.
Per O’Halloran, Griffith has lined up alongside Jewell with the first-stringers during the OTAs that were open to the media, and he is currently ahead of Singleton on the unofficial depth chart. Even if Griffith holds onto that spot, however, there will still be opportunities for Singleton and other players like Justin Strnad and Barrington Wade, as most of Griffith’s snaps are expected to come in the Broncos’ base 3-4 package. That makes sense given his run-stopping abilities, though the fact that he has some fluidity and moves well suggests that he could be in line for an even larger role if he continues to impress.
Griffith admitted that it’s a “relief” that Denver has not yet done more to address its ILB corps, but he also knows his job is far from secure at this point. “You still have to do the job,” Griffith said. “That’s been my approach since being in the NFL. They can bring anybody in at any moment. … I don’t think anything is solidified. Every day is an opportunity to show this coaching staff what I can do.”
Griffith was retained for the 2022 season via the exclusive rights free agent tender and will earn $825K this year. As a former UDFA, he will be extension-eligible at season’s end, so he has plenty of motivation to fend off his competitors.
Second-Round Broncos Bids Expected In Coming Days
The process of finding a new owner of the Broncos is approaching a crucial next step. 9News’ Mike Klis reports (on Twitter) that second-round bids for the franchise are due by Monday.
That places a firm deadline on the bidding process, which was expected to reach this stage in the near future. As Klis notes, four groups are expected to place a bid, with the lone exception amongst prospects previously reported as showing interest being the one led by media mogul Byron Allen. He was still considered to be in the running earlier this month, but the list of finalists would seem to no longer include his name.
That leaves the group led by Rob Walton at the top of said list; the Walmart heir has a personal value of more than $70MM, and has consistently been labelled as the frontrunner to win the bidding process. Among his competitors is the pairing of 76ers owner Josh Harris and Magic Johnson, the group involving Todd Boehly (which is in the process of purchasing English Premier League club Chelsea) and, the most recent addition to the mix, brothers Mat and Justin Ishbia.
In a follow-up, Klis details that if the group including Boehly were to be successful, he would be a “limited partner”. Instead, Jose Feliciano would be the lead owner, something which would satisfy the league’s desire for minority ownership in this process. While Klis further tweets that the trio involving Boehly, Feliciano and Behdad Eghbali would constitute surprise winners in the bidding process at this point, they remain in contention to make a second major purchase in a matter of weeks.
With the next round of bids – long expected to approach the $5B mark, which would comfortably set a new North American sports record – set to be made in the coming days, Klis reports that the sales process could be completed by late June or early July (Twitter link). That would stay in line with the overarching thought that a new owner would be in place in time for the 2022 campaign, and bring an end to one of the league’s top off-the-field storylines.
Broncos’ Jerry Jeudy Cleared Of Misdemeanor Tampering Charges
Arrested on charges of second-degree criminal tampering with a domestic violence enhancer, Jerry Jeudy spent a night in a Denver-area jail earlier this month. Ahead of Jeudy’s hearing Tuesday, the Arapahoe County District Attorney’s office dismissed the charges against the Broncos wide receiver, Adam Schefter of ESPN.com tweets. A judge has since signed off on the motion to dismiss, closing the case, Tom Pelissero of NFL.com tweets.
Arapahoe County Sheriff Tyler Brown had called the charge a “very low misdemeanor” and said no physical contact was made during the May 12 incident involving the mother of Jeudy’s infant child. Jeudy was arrested on two domestic violence charges not involving physical contact, Mike Klis of 9News tweets. The woman involved had asked an Arapahoe County judge to dismiss the case, indicating she contacted authorities to “monitor the situation” and never felt threatened during the argument.
The woman accused the 23-year-old wideout of withholding medical records, her wallet and the baby’s car seat as she attempted to leave a residence, according to a police report. Each item was locked in a vehicle, per Brown. Jeudy accused the woman of taking one of his three phones. Jeudy went into police custody without incident.
Tuesday’s development bodes well for Jeudy not facing an NFL suspension in connection with this charge, though the league does not need a criminal charge to levy a suspension under its personal conduct policy.
Jeudy was a Broncos first-round pick in 2020. The Alabama product led the team in receiving yards as a rookie but missed a chunk of last season due to a high ankle sprain. Jeudy did not score a touchdown in 2021, but he is expected to be a key part of the team’s first Russell Wilson-led offense. The 6-foot-1 wideout becomes eligible for an extension in January. The Broncos already have wideouts Courtland Sutton and Tim Patrick tied to long-term deals; Jeudy can be kept through the 2024 season on his rookie contract via the fifth-year option.
Broncos’ Jonathon Cooper To Miss Rest Of Offseason Program
Despite being a seventh-round pick, Jonathon Cooper showed some promise as a Broncos edge rusher as a rookie. The team, however, restocked its outside linebacker corps this offseason, potentially dropping the Ohio State product lower in the pecking order.
Cooper also will miss the bulk of the Broncos’ offseason program. A ring finger tendon injury sustained this week will result in a surgery that will sideline the off-the-bench pass rusher for the remainder of Denver’s OTAs/minicamp stretch, Mike Klis of 9News notes. He is expected to be ready for training camp.
This is familiar territory for last year’s No. 239 overall pick. Cooper missed the Broncos’ OTAs and minicamp last year because of a heart surgery, an issue that caused him to fall toward the bottom of the draft. That issue did not result in any missed games for the ex-Buckeye, who recorded two sacks in the Broncos’ upset win over the Cowboys.
Cooper, who finished his rookie slate with seven quarterback hits and a fumble recovery, was a special teams regular and took on a bigger role after Von Miller‘s midseason injury and subsequent trade to the Rams. Cooper missing time this offseason may be more significant — due to the team’s additions and reshuffling at the edge positions.
Denver signed Randy Gregory to lead its edge corps and used its top draft choice (No. 64 overall) on Oklahoma’s Nik Bonitto. The Broncos also are trying ex-Cooper Ohio State teammate Baron Browning as an outside ‘backer, moving him from an inside linebacker position that features a thinner cast. Contract-year rushers Bradley Chubb, whose extended absence last season opened the door for Cooper and others, and Malik Reed also reside in this crowded position group. Christopher Allen, who recorded six sacks for Alabama’s 2020 national championship team before missing 2021 with a Lisfranc issue, also signed with the Broncos as a UDFA. Allen is not yet at full speed, per Klis, as he continues to recover from that injury.
NFL Staff Notes: Steelers, Browns, Broncos, Bears, Panthers, Buccaneers
The Steelers recently promoted former vice president of football & business administration Omar Khan to replace former general manager Kevin Colbert. We also knew that Khan was bringing in Eagles former vice president of player personnel Andy Weidl and Commanders former college scout Sheldon White. We now know that Weidl will serve as assistant general manager and White will be in the role of director of pro scouting.
Additionally, according to Brooke Pryor of ESPN, Khan has promoted existing staffer Dan Colbert, the son of the former general manager. The younger Colbert had served as a veteran college and pro scout and will now be elevated to a senior-level position.
Pryor also provides an additional note that Khan will continue the Steelers’ player personnel tradition of not conducting contract negotiations during the NFL season.
Here are a few other staff hires from around the NFL, starting with another hire in the AFC North:
- The Browns have also made an addition to the player personnel staff, according to Neil Stratton of Inside the League. Cleveland will bring in Eagles scout Shawn Heinlen. Heinlen was assigned by Philadelphia to cover the Southwest area for the last four seasons and is expected to play a similar role in Cleveland. Before his time with the Eagles, Heinlen spent 16 years in Buffalo.
- Denver announced some title changes to existing staff in their scouting department. 16-year Broncos staffer Eugene Armstrong will go from Southwest area scout to covering the Southeast area in his 17th season in Denver. Area scout Deon Randall will change areas, too, going from the Northeast area to the Southwest area in his sixth season with the Broncos. Chaz McKenzie spent last season as a Nunn-Wooten Scouting Fellow for the Broncos and will take over for Randall as the Northeast area scout.
- The Bears are adding a former NFL player and scout in Reese Hicks, according the Stratton of Inside the League. After playing offensive line for the Texans, Bengals, Broncos, and Chargers, Hicks branched out into the scouting world. He has spent the last three seasons as a pro scout for the Falcons. Hicks will serve as the Bears West Coast area scout.
- Carolina is also adding a former NFL player, hiring Michael Coe to become their New England area scout, according to Stratton once again. Coe spent seven seasons in the NFL as a cornerback for the Cowboys, Jaguars, Dolphins, Giants, and Colts. Since his time in the NFL, Coe has worked in the role of Director of Football Operations for the Senior Bowl.
- According to Greg Auman of The Athletic, Tampa Bay has added two new scouting assistants. Emmett Clifford is joining the Buccaneers after spending the last two years as a film analyst in Cleveland. The other new scouting assistant, Korey Finnie, was last a student manager and assistant with Tulane football.
Mat, Justin Ishbia In Mix To Buy Broncos
The Broncos are down to five potential owners. Another of those groups became known Wednesday night. Brothers Mat and Justin Ishbia front a group that remains in contention to acquire the AFC West franchise, Mike Klis of 9News reports.
Mat Ishbia was a member of Michigan State’s national championship-winning 1999-2000 basketball team. He has since become quite successful in the mortgage business. The Ishbias toured the Broncos’ facility and met with team executives recently, Klis adds, noting Mat would be the controlling owner if this group makes the top bid. Mat Ishbia played three seasons with the Spartans, being on the Tom Izzo-coached team from 1999-2002. Yahoo Finance lists his net worth at around $11 billion.
This group joins the ones headed by Philadelphia 76ers owner Josh Harris and Magic Johnson, Walmart’s Rob Walton and longtime media mogul Byron Allen. Dodgers and Los Angeles Sparks part-owner Todd Boehly has been connected to this pursuit, but Klis notes it is not certain if he remains in the mix. Boehly has been in Europe finalizing his most recent high-profile acquisition, English Premier League club Chelsea. Allen has also yet to visit the Denver facility, but he remains in play to buy the team.
Walton was previously mentioned as the favorite here, while Harris’ group received the first tour. The team must accept the highest bid, one that is expected to approach or surpass $5 billion — a mark that would shatter the American professional sports record. Second-round bids for the Broncos have yet to take place, per Klis, but those offerings appear to be coming soon.
Ravens Sign CB Kyle Fuller
The Ravens have made a noteworthy addition to their secondary. The team announced on Tuesday that they have signed veteran cornerback Kyle Fuller to a one-year contract. 
The deal represents a homecoming for Fuller. The 30-year-old is from Baltimore, and attended high school locally. From a business perspective, it is also a fresh start him, after an up-and-down tenure in Denver.
The Broncos signed him last March to a one-year, $9.5MM deal. The move reunited him with Vic Fangio, and was a significant part of the overall cause for optimism surrounding the Broncos’ secondary. He was a starter from the onset of the season, but he struggled to replicate the success he enjoyed under Fangio in Chicago. As a result, he was benched for a stretch of the campaign, and ultimately put on the trade block.
While the Virginia Tech product did end up back on the field playing in the slot for the first time in his career after injuries, his time in Denver came up short of expectations. With the Bears, who selected him in the first round in 2014, he was an immediate starter and impact defender. He was named a Pro Bowler in 2018 and 2019, leading the league in interceptions during the former campaign.
In Baltimore, Fuller will look to return to his previous form. He joins a CB room which still features starters Marlon Humphrey and Marcus Peters, but was lacking in depth after the departures of Anthony Averett and Tavon Young. At a minimum, Fuller should serve as an experienced backup, but if the position is hit by injuries like it was last season, he could once again find himself in a starting role.