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DENVER (KDVR) — The National Football League’s Finance Committee has given the sale of the Denver Broncos to the Walton-Penner Family ownership group the green light, ahead of final approval from NFL team owners.

The Broncos tweeted a statement from Rob Walton, the head of the ownership group hoping to purchase the team for a record $4.65 billion sale.

“We appreciate the diligence and hard work of the National Football League’s Finance Committee with its recommendation to approve our purchase of the Denver Broncos. Today’s vote marks an important milestone, and we are excited for the next step involving all of the league’s owners.”

Rob Walton

Multiple reports indicate the final vote will go down on Aug. 9 in Minnesota. 24 of the league’s 31 other owners will need to approve of the sale, according to ProFootball Talk’s Mike Florio.

Walton is the chairman of the Walmart Board and an heir to Sam Walton, the company’s founder. Forbes estimates his net worth at $58.8 billion. He would be the richest owner in the NFL, if the deal is approved.