Rob Walton‘s ownership group placed the top bid to acquire the Broncos. While Walton’s son-in-law and daughter — Greg Penner and Carrie Walton Penner — are expected to run the day-to-day operations, others are part of the ownership group that placed the $4.65 billion bid.
The group added a big name recently. The Broncos announced Monday former secretary of state Condoleezza Rice is now part of Walton’s ownership group. Rice is a University of Denver alum, receiving two degrees from the university after spending part of her childhood in the city.
“We’re pleased to welcome former Secretary of State Condoleezza Rice to our ownership group. A highly respected public servant, accomplished academic and corporate leader, Secretary Rice is well known as a passionate and knowledgeable football fan who has worked to make the sport stronger and better,” the Walton-Penner group said in a statement. “Her unique experience and extraordinary judgment will be a great benefit to our group and the Broncos organization.”
Rice, 67, is a former member of the College Football Playoff committee and was once linked to the Browns’ HC position. The latter connection was quickly dismissed by Rice, a known Browns fan, but she has been involved in the game for a bit. Rice joins Starbucks chairwoman Mellody Hobson as prominent members of Walton’s ownership group. Peyton Manning has also been connected to a role with Walton’s group. The former Broncos quarterback spoke with all four ownership groups who became finalists to acquire the franchise about a role with his former team.
“It is an honor to be part of this ownership group. Football has been an integral part of my life since the moment it was introduced to me, and I am thrilled to be a part of the Broncos organization,” Rice said, via 9News’ Mike Klis (Twitter links). “I spent much of my younger years in Denver so to be able to combine my love of the game with my love for this great city and team is an adventure of a lifetime and a great opportunity.”
Walton’s group is in the process of taking over the Broncos. A vote among the league’s 31 other owners approving the sale is expected to take place in August.
I wonder how much money she has into the ownership group or is this just a name play?
Not sure if her net worth or anything, just curious
Not hearing John Elway’s name much. Is he still involved or is he out?
I think in a scenario like this, it’s more equivalent to having her be part of the board of directors than about getting a notable chunk of the money from her. Especially since the bulk of the money would be coming from a retiree who’s never owned a sports team and turns 78 this year.
I see her net worth listed at $4mil and $12mil, I’m guessing it’s closer to the high number. Also see she was linked to Rick Upchurch back in the day so it’s interesting to be part of the Broncos group.
Unless someone’s net worth is mostly tied to public earnings or public holdings, any number you see online is extremely untrustworthy. Regardless, her net worth is presumably substantially less than Walton makes or loses in literally one eventful minute in the stock market.
Maybe Muammar Qaddafi left her his fortune.
It’s hard to buy an NFL team with money straight from the Caymans.
As a non-sequitor, Ghaddafi was actually a pretty generous guy, believe it or not.
I’m unsure as to why the team needs such a board of directors. And I may be a bit prejudicial, especially since I know that neither owners nor players always end up with their favorite teams, but it always bothered me a bit when someone who roots for another team ends up in power at different organization.
Most things it shouldn’t matter, but overseeing a franchise in some capacity without any real football strategic responsibilities on one’s resume is a bit off to begin with, before bringing up her fandom of an outside team. Just bothers me the tiniest bit.
I’m not sure how many teams actually have what we would formally call a board of directors, but it beats having one owner holding all meaningful oversight, when they might be a disaster of competence, character, or committment. We can all think of some who fit those categories.
But I feel you. For all that it makes sense for people in ownership roles to have some experience in team operations elsewhere, some part of me will always feel purist about fandom.
You spelled “Jerry” wrong.
A bad idea that would only be topped if the Bears asked Obama to join their ownership group.
The Bears could hire Trump and he could claim for 2 years that the Bears won the Super Bowl, even though they didn’t even make the playoffs
The New Jersey Generals might be looking for a investors…
He couldn’t buy an NFL team
If frauds like Haslam can buy one anyone can.
And the Bears could trade for Deshaun Watson and Brownbacker9 would claim he didn’t assault dozens of women, even though he paid them to go away.
So Condi Rice was aiming ultimately and openly for the NFL Commissioners job and then was pegged for the head of the NFLPA…. They made her a National Football Foundation Gold Member, whatever that means….
Just one link?
link to profootballtalk.nbcsports.com
This is an educated and worldly person who has undoubtedly made many $$$ in the hired-speaker arena – but to think she has the money to be a part-owner of an NFL franchise is ludicrous.
Anyone can be a part-owner, even if only .01%.