Walton Buys Diamondbacks Stake

Walton, 81, son of Walmart founder Sam Walton, has been a minority owner for two years but the transaction was never made public by the team. The proceeds will partially fund the $250 million Chase Field renovations, with the rest coming from taxpayer dollars.

As a limited partner, Walton has no decision-making responsibilities or involvement in operations. The Diamondbacks had previously considered bringing in additional investors for capital needs, according to team president Derrick Hall.