D-backs Quietly Got 9-Figure Investment From Richest U.S. Sports Owner

Rob Walton, the richest owner in U.S. sports, reportedly purchased a 10% share of the Arizona Diamondbacks two years ago, according to a new article from Sportico's Justin Birnbaum, Eben Novy-Williams and Scott Soshnick. At the time, the D-backs were valued at $2 billion.

Rob Walton is the son of Walmart founder Sam Walton, and is currently worth $146 billion per Forbes. Walton purchased the Denver Broncos four years ago. Neither the team nor Walton issued a comment on the transaction, Sportico reports.

According to the article, the Diamondbacks used "the bulk" of Walton's investment to fund renovations for Chase Field. Arizona is in the midst of a multi-year process to upgrade their home stadium, recently installing a massive new video scoreboard. There remains much to be done, however.

The upgrades to the D-backs' air conditioning system are expected to take longer — and cost more than initially anticipated. The team hopes to have the HVAC system upgraded by 2028.

"Unfortunately, we think we're going to be spending hundreds of millions on infrastructure, not so much fan-facing, and we need to make sure that we weave those in somehow as well," Diamondbacks team President and CEO Derrick Hall said in his media availability on the first day of full-squad workouts at Salt River Fields.

Arizona Diamondbacks Sell Minority Share to Rob Walton

Not disclosing a minority share of this nature is nothing unusual for the Diamondbacks, according to Arizona Sports 98.7 insider John Gambadoro. The Diamondbacks are also not for sale, Gambadoro said.

"The Diamondbacks are not for sale," Gambadoro wrote in a post on X/Twitter. "They do not publicly announce the minority partners. The only way a percentage would have become available is if one of those minority owners was selling their shares."

The Diamondbacks are not for sale. They do not publicly announce the minority partners. The only way a percentage would have become available is if one of those minority owners was selling their shares. https://t.co/cOjZP11lnC
— John Gambadoro (@Gambo987) March 3, 2026

Speaking on air during his radio show, Gambadoro further explained: "The shares that they had available for sale were from former partners who had sold previously, so those shares were available to buy. [Walton] bought [Kendrick's] shares."

Kendrick himself addressed his future at the beginning of spring training.

"I almost hesitate to say this, but I'm so far been blessed with very good health, and I don't feel much different, honestly, than I felt 15 years ago," he said. "Now, tomorrow I may wake up and not feel the same, and when and if that happens, then my situation may change."

At 81, Walton is only one year younger than Kendrick. The minority share does not seem to signal a transferring of hands at any point in the near future. Walton also handed over control of the Broncos to his son-in-law, Greg Penner and has taken a step back at Walmart, Sportico's article said.