The Denver Broncos Walton-Penner ownership group have added former Secretary of State Condoleezza Rice to the team. She’ll have a minority stake in the team once the sale is completed.
Rob Walton issued the following statement on behalf of the Walton-Penner ownership group on Monday:
“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. She is the daughter of a football coach and served on the inaugural College Football Playoff Committee. She moved to Denver with her family when she was 12 years old and went on to attend the University of Denver for both college and graduate school. Her unique experience and extraordinary judgment will be a great benefit to our group and the Broncos organization.”
In June, the Walton-Penner group agreed to purchase the Broncos for $4.65 billion. Rob Walton and his daughter and son-in-law, Carrie Walton-Penner and Greg Penner, will make up the majority owners of the team with the latter two carrying the day-to-day operations of the franchise.
They seem to be adding a lot of ‘star power’ to the ownership group. Rice served as national security advisory from 2001-2005 and then Secretary of State of the United States under George W. Bush from 2005-2009. She joined Mellody Hobson who was announced as a minority owner also. Hobson served on the board for both Starbucks and JP Morgan Chase. She is also the wife of famed film directory, George Lucas.
Rob Walton is building quite a team of vested interests. The sale is expected to be formally completed before the season begins in September.