Richest owner in major US sports now owns stake in Diamondbacks

The richest owner in major American sports owns a stake in the Diamondbacks — and has, quietly, for two years, according to a report.

Denver Broncos owner Rob Walton bought a 10 percent stake in the Diamondbacks at a $2 billion franchise valuation, per a report by Sportico. Walton, 81, a son of Walmart founder Sam Walton, is worth nearly $146 billion, according to Forbes.

The transaction apparently took place in 2024 but never was made public by the Diamondbacks.

The club declined to comment publicly on the report, which said the “bulk of the proceeds” went toward Chase Field renovations. The team has publicly committed to put in $250 million toward ballpark improvements, which also will be funded through taxpayer dollars via legislation passed last year.

Arizona Diamondbacks Jordan Lawlar catches a fly ball during spring training workouts at Salt River Fields on Feb. 13, 2026, in Scottsdale.

Arizona Diamondbacks’ Nolan Arenado (28) rounds the bases after hitting a home run off Colorado Rockies pitcher Antonio Senzatela (49) in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks’ Gabriel Moreno (14) bats against the Colorado Rockies in the fourth inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks’ Alek Thomas (5) runs to second base after hitting a double against the Colorado Rockies in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

D. Baxter the Bobcat, the Arizona Diamondbacks mascot, signs autographs during the spring training season opener against the Colorado Rockies at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks’ Nolan Arenado (28) reacts after hitting a home run off Colorado Rockies pitcher Antonio Senzatela (49) in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

The Arizona Diamondbacks take the field against the Colorado Rockies during the spring training season opener at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks’ Nolan Arenado (28) hits a home run over Colorado Rockies left fielder Zac Veen (13) in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

The Salt River Pima – Maricopa Indian Community traditional dancers perform at the Arizona Diamondbacks spring training season opener at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks’ Nolan Arenado (28) hits a home run off Colorado Rockies pitcher Antonio Senzatela (49) in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

A fan and her dog cheer for the Arizona Diamondbacks during the spring training season opener against the Colorado Rockies at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks center fielder Alek Thomas (5) signs autographs during the spring training season opener against the Colorado Rockies at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Colorado Rockies pitcher Juan Mejia (47) throws to the Arizona Diamondbacks in the third inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Fans watch the action on the left field lawn as the Colorado Rockies host the Arizona Diamondbacks during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks pitcher Andrew Hoffmann (56) throws to the Colorado Rockies in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks center fielder Alek Thomas (5) catches a fly ball from Colorado Rockies’ Edouard Julien (6) in the second inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

Arizona Diamondbacks pitcher Philip Abner (50) takes the mound against the Colorado Rockies in the third inning during a spring training game at Salt River Fields on Feb. 20, 2026, in Scottsdale.

According to a source, Walton is not a part of the organization’s “general partnership” but rather is a minority owner and a limited partner. He has no decision-making responsibilities or involvement in operations, the source said.

Ken Kendrick, the Diamondbacks’ managing general partner, and Jeff Royer each owned the largest portions of the team prior to the Walton transaction. Mike Chipman owned the third-most shares.

Kendrick, Royer and Chipman make up the general partnership along with Derrick Hall, the team’s president and CEO.

That the club opted to sell a stake in the franchise is not surprising. Three years ago, Hall told The Arizona Republic it might be a possibility.

“We consider, really every year, when the timing is right, to bring in an additional investor,” Hall said in January 2023. “I think most teams think the same way. Because you’re going to need capital, whether it’s for flexibility with payroll one day or, in our case, for improvements here at this ballpark or if we’re going to build a new ballpark.

“The timing is not exactly right now, but we’re more than willing to bring in another investor, and Ken is in the position now where he is fielding a lot of interested investors.”

This article originally appeared on Arizona Republic: Walmart heir Rob Walton bought stake in Diamondbacks, per report

Source link