Rob Walton Quietly Buys Stake in Diamondbacks

The transaction, which took place two years ago but was never made public, saw Walton invest in the Arizona team as part of their commitment to Chase Field renovations. According to a report by Sportico, the "bulk of the proceeds" went toward ballpark improvements, with the team having publicly committed $250 million for renovations that will also be funded through taxpayer dollars.

Walton, an 81-year-old son of Walmart founder Sam Walton with a net worth of nearly $146 billion according to Forbes, serves as a minority limited partner with no decision-making responsibilities or involvement in operations. The club had previously indicated bringing in additional investors was a possibility.