Millionaire Walmart chair Greg Penner adds soccer club Valencia CF to his investments—he already owns NFL’s Denver Broncos and part of a baseball team
Source: Fortune ·
Chairman Greg Penner and his wife Carrie, the granddaughter of Walmart founder Sam Walton, also have stakes in American football and baseball teams.
From the source
The world’s wealthiest are finding new ways to deploy their fortunes beyond luxury cars and yachts—and the latest craze is soccer. Greg Penner, the multimillionaire chairman of Walmart, just added a European league to his growing portfolio of sports investments from football to baseball. A consortium backed by some of private equity’s top billionaires and ultra-rich investors has agreed to buy a 42% stake in Spanish soccer club Valencia CF, now valued at €1.2 billion ($1.34 billion). The deal was led by Pitchwise Holdings, whose notable investors include KKR co-founders Henry Kravis (worth $17.4 billion) and George Roberts (worth $17.7 billion). Another notable backer was Penner Sports, the family and sports investment vehicle run by Penner and his wife Carrie, the granddaughter of Walmart founder Sam Walton. The Valencia club will also receive around €100 million (nearly $112 million) in capital injection as part of the investment. “The club has all the building blocks needed to be…