Ernie Stapleton/AP
The Denver Broncos are currently the richest owners in the NFL and boast the most diverse group of owners in the league.
4 of 6 members Walton Penner owned group Welcome to the NFL fraternity this week is either a woman or a minority.
Walmart heiress Rob Walton said Wednesday that his son-in-law Greg Penner, will serve as CEO of the team. Penner, on the other hand, said he would soon hire a team president.
These positions were held by Joe Ellis, who remains an advisor this year.
Penner said he will be the point person. We will use them all. ”
Walton thanked Ellis for his 27 years of service and paid tribute to the late Pat Bowlen, who purchased the team for $78 million in 1984 and passed away in 2019 ahead of being inducted into the Pro Football Hall of Fame.
“Pat Bowlen has built a great legacy and a record of wins and championships,” said Walton. “We intend to do everything we can to build on the championship tradition of this great organization. Our number one priority is to put a winning team on the field to win the Super Bowl.”
Walton, the eldest son of Walmart co-founder Sam Walton, along with his daughter Carrie Walton Penner and her husband, bought the Broncos for $4.65 billion. This is a world record for professional sports franchises.
Walton has an estimated net worth of $60 billion. Before Walton’s Group bought the Broncos, the NFL’s richest owner was Carolina’s David He Tepper.
The ownership group includes limited partners Melody Hobson, Condoleezza Rice and Lewis Hamilton. Hobson is the CEO of Starbucks, Rice is a Stanford University professor and former Secretary of State, and Hamilton is the most prolific F1 driver of all time.
All three investors are black, fulfilling the league’s goal of bringing more racial diversity to its owner group, front office and coaching staff.
“We wanted to add people who bring different perspectives and experiences, and we certainly have that here,” said Penner. “Lewis is a GOAT Formula One driver, Dr. Rice has all the experience in politics, academia and world affairs, and Melody, you know, is an incredible businesswoman and has a lot of experience there. There is a track record.
“We strongly believe in connecting different perspectives, experiences and backgrounds, and we believe that it makes us more successful.”
All but Hamilton, who is in season, gathered at team headquarters in Minnesota on Tuesday, a day after NFL owners unanimously approved the sale.
The Broncos’ new owner group met with staff and players before practice, and Star Safety’s Justin Simmons was proud to see so many faces of color.
Biracial Simmons said, “What an inspiration to many to see the diversity and to see strong black women in the owner group.” You can look up the ownership of the Broncos and they can see someone who looks just like them. I think that’s really great.
“But I think the biggest thing on top of that is that they didn’t do it just to do it,” Simmons said. A truly strong and qualified individual who has earned and worked for this, and it has inspired me.”
Hobson said, “It is such an honor and privilege to be the owner of this wonderful organization. .”
Hobson said he encouraged Walton to bring his friend Hamilton along when he was first approached about joining the ownership group.
“Lewis is my brother of choice,” she said. “As soon as the opportunity arose, I said, ‘I need Lewis. As many of you know, he was knighted by Queen Elizabeth and I call him “Sir Little Brother”.
“He has this winning mentality, not just on the track but in everything he does. As a company, we care deeply about diversity, equity and inclusion.”
Rice, who grew up in Denver, joked that his late father, who was a huge football fan, “must be thinking, ‘She’s finally got a really important job.'”
Penner, who said he had no plans to have any more limited partners, objected when asked if John Elway or Peyton Manning would be involved with the team going forward.
The new owners met both on the field Wednesday. Elway told The Associated Press earlier this year that he wanted to advise new owners to help them in their first year.
“We’re going to learn from both. I think it’s going to be a really good relationship.”
Penner, who said GM George Payton was thrilled to acquire quarterback Russell Wilson this spring, is time for a contract extension expected to be worth about $260 million over five years. It didn’t reveal the line.