Approval of Broncos sale expected from NFL owners at August 9th meeting

The Denver Broncos will officially have a new owner in a matter of weeks according to reports from Mike Klis.

NFL owners are expected to meet on August 9, 2022 to vote on the sale of the Denver Broncos to the Walton-Penner Ownership Group, according to a report from 9News. The Walton-Penner group is headed by Rob Walton, but the day-to-day business of the Broncos will be led by his son-in-law, Greg Penner, and daughter, Carrie Walton Penner.

The bidding war for the Broncos ended last month when the $4.65 billion offer from Walton was accepted. Walton’s team issued the following statement giving us fans insight into what we might expect from a new owner now that the Pat Bowlen era of this franchise is officially coming to an end.

“Having lived and worked in Colorado, we’ve always admired the Broncos. Our enthusiasm has only grown as we’ve learned more about the team, staff and Broncos Country over the last few months. We are excited to announce that Mellody Hobson, Co-CEO of Ariel Investments, has agreed to join our ownership group. Beyond her role at Ariel, Mellody is an influential leader in corporate and civic organizations across the nation. Mellody currently serves as Chair of the Board of Starbucks Corporation and is also a director of JPMorgan Chase. We know she will bring her strategic acumen and leadership perspective to our team. Thank you to Joe Ellis and the staff of the Broncos for the first-class manner in which they have conducted this sale process. In addition, we thank Hogan Lovells for their guidance and support in this effort. We look forward to earning the confidence and support of the NFL as we take the next step in this process. When the necessary approval procedures are met, our family is excited to share more with Broncos fans, the organization and the community.”

Hobson has a long career in business and served as the Chair of the Board for Starbucks and also a Director at JPMorgan Chase. She is also the wife of film legend George Lucas.

She wouldn’t be the only significant addition the Walton-Penner group would add. They also announced a few weeks ago that former Secretary of State Condoleezza Rice would also be taking a minority stake in the team.

“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.”

There should be ample experience in the building to keep the Broncos a first class organization in the NFL and likely why the owners fully intend to swiftly approve the sale in this upcoming meeting on August 9th.

The last thing us fans would hope to see is for Walton-Penner to continue the conversations they’ve had with Peyton Manning and fully bring him back into the building in some way. That would be icing on a very nicely baked cake from this entire sale ordeal.