Condoleezza Rice officially joins ownership group for NFL team

Condoleezza Rice, an ex-secretary of state and a graduate of the University of Denver has joined the Denver Broncos. The news was announced by the new ownership group. Rice served as secretary of state for the United States from 2005 until 2009.

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Rob Walton released the following statement in the name of the Walton-Penner Family Ownership Group:

“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.”

“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 today. 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,” Rice wrote in an email via report.

Peyton Manning has apparently been in talks with the ownership group regarding a future position within the company. The future of Mile High will be the new owner’s primary focus, according to Broncos CEO Joe Ellis.

Even though the ownership group has reached an agreement with the Pat Bowlen Trust, there are still several steps that must be taken before the sale can be completed.

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The Bowlen Trust was created before Pat Bowlen’s passing and was composed of his kids. Numerous lawsuits have been filed since then, but the final one was finally resolved last year, leading to the sale of the team.

Pat Bowlen bought the Broncos in 1984, and the team has won three Super Bowls since then. Sadly, Bowlen announced that he had Alzheimer’s disease in 2014, leaving the team leadership to the team president Joe Ellis. Bowlen passed away in 2019.

The Walton-Penner Group filed a bid for $4.65 billion, which was chosen as the winning price out of several others for the team.

Forbes estimates Walton, an heir to Sam Walton and the chairman of the Walmart Board, to be worth $58.8 billion net.

 

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