Richest Sports Owner Buys Diamondbacks Stake

Rob Walton, owner of the Denver Broncos and son of Walmart founder Sam Walton, has been a minority owner of the Arizona Diamondbacks for two years, according to a report by Sportico. The 81-year-old Walton, worth nearly $146 billion according to Forbes, purchased a 10% stake in the franchise with the bulk of proceeds going toward ballpark improvements. The Diamondbacks, which have publicly committed $250 million for renovations, declined to comment on the transaction. Walton is not part of the team's general partnership and has no decision-making responsibilities, according to a source.