Penner called owning the Broncos “a responsibility and a privilege. We also know it’s important to excel off the field as well in our community and across the league.” “We’re excited to put a winning team on the field. “Every step of this process has been fantastic and it’s made us more excited each step of the way to be a part of the NFL and especially part of the Denver Broncos and the Denver community,” Walton Penner said. Once the decks were clear for the Broncos to be sold, the process moved quickly and met Ellis’ hope that the team would be in new hands by the Sept. Bowlen Wallace and her sister, Amie Klemmer, were never going to vote in favor of their half-sister Brittany so a sale became inevitable, but not imminent because of various legal squabbles. 30, 2019, when Ellis said unanimous Bowlen sibling approval “may not be a requirement, but it’s going to be necessary,” for Brittany Bowlen to become the next controlling owner. Four months later, Brittany Bowlen went public with her goal of succeeding her father.Ī major turning point came Dec. In June 2018, Beth Bowlen Wallace announced her desire to succeed her father, but the trustees running the club - Broncos president/CEO Joe Ellis, team counsel Rich Slivka and local attorney Mary Kelly - debunked her candidacy within hours. The ownership group’s connections to Colorado are through Penner, 52, and Walton Penner, 51 (who live in the state), Rob, 77 (who owns a home in Colorado) and Rice, 67 (who attended high school and the University of Denver in Colorado).Īlthough the Broncos were officially on the market less than seven months, the unofficial process lasted nearly four years, when family disagreement and legal issues painted a reality in which the team would not stay in the Bowlen family. “(Penner), actually, started conversations some 10 years ago and then the team actually announced it was for sale (in February) and we got in the middle first thing.” “The Broncos are the one sports franchise that we would have considered buying,” Walton said. It was the Broncos and only the Broncos for Rob Walton and his family. “It’s a good business, but it’s a fun business and we’re going to enjoy it.” Only the Broncos “Working together as a family is going to be great fun on this project,” Walton said. Members of the ownership group will be introduced at the Broncos’ facility Wednesday. “Putting a winning team on the field is our No. “Pat’s leadership and commitment to build a successful team and business, we’ll continue to build on that,” Rob Walton said. The ownership group set a new bar for franchise price and now has a high bar to achieve on the field, one set by Pat Bowlen, who bought the Broncos in 1984 and was atop the organization during all three of their Super Bowl titles. Rob Walton, the oldest child of Walmart co-founder Sam Walton, instantly becomes the NFL’s richest owner with an estimated net worth of $59.4 billion, according to Bloomberg, behind only the Los Angeles Clippers’ Steve Ballmer ($92.1 billion) among North American sports owners. The purchase price laps the previous NFL record of $2.275 billion paid for the Carolina Panthers (David Tepper in 2018), exceeds the North American record of $2.4 billion for the New York Mets (Steven Cohen in ’20) and set a world record briefly established by Todd Boehly for the Chelsea Football Club in May ($3 billion). The Walton Penner ownership group reached a sale agreement June 8 and its proposal was approved by the NFL’s Finance Committee July 27.
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