NFL OWNERS UNANIMOUSLY APPROVE WALTON-PENNER OWNERSHIP GROUP
NFL owners unanimously approved the sale of the Denver Broncos to the Walton-Penner Ownership Group led by Walmart heir, Rob Walton, on Tuesday.
The new ownership group needed just 24 of 32 votes (three quarters) for approval but in the end the Bowlen era in Denver concluded with a unanimous vote of confidence by all 32 NFL owners. The approval establishes a record high price paid for a sports franchise in North American history. The Broncos were put up for sale by the Pat Bowlen Trust in February before a $4.65 billion purchase agreement was reached with the new owners in June. The NFL owners’ approval was the final hurdle after the NFL’s Finance Committee unanimously approved the sale a few weeks prior.
“I want to congratulate Rob, Carrie and Greg,” NFL commissioner Roger Goodell said yesterday. “They had unanimous support from the membership. I commented and many others did about the cooperation and the smoothness of this process which, I think, is a credit to all of them. And of course, to Joe Ellis and the trustees, [and] to the Bowlen family. I think the advisors said everyone had really helped along the way.”
Commissioner Goodell was speaking after the owners’ meeting in Minneapolis and commented briefly about Pat Bowlen and his ownership: “This is the fifth ownership in the 62-year history of the Broncos. The Broncos were owned by the Bowlen family, Pat in particular, and his brothers for a very long period of time. He made an extraordinary contribution to the league. He was not just a Hall of Famer, he was a friend and someone who cared deeply about the league, the Broncos, the Denver community and we’re going to miss him and his family along the way. But we want to thank them for all that they’ve done for the National Football League. They’ve been extraordinary partners.”
“But we’re also very excited about the new partners,” Goodell said of the incoming owners. “This is a group that is going to be great for the Denver community. Their commitment to winning, but more importantly, their commitment to making sure the Broncos franchise is an important part of the Denver community. We’re thrilled about that.”
Following the approval, Broncos CEO Joe Ellis informed team employees of his decision to officially step down after 27 years at the organization. Ellis said, however, that he had been asked to continue to serve as an advisor to the new owners for the 2022 season, to which he had agreed.
Ellis said in a statement: “I am confident the Walton-Penner Family Ownership Group will add to the Broncos’ championship tradition on and off the field while putting their own stamp on this great organization. I was asked by them to serve as an advisor to ownership for this season, and I’ve accepted their request to help in the transition however possible.”
“The Broncos are in great hands with Rob Walton, Carrie Walton Penner, Greg Penner, Mellody Hobson, Condoleezza Rice, and Sir Lewis Hamilton along with the many outstanding people in our organization. I wish them much success, happiness, and fun as they begin this journey.”
Commissioner Goodell also thanked Ellis and the Broncos trustees for their work and leadership over the past few years, saying: “I do want to thank Joe Ellis and the trustees for their incredible work. Sometimes a difficult road but the leadership that they have shown over the last several years under difficult circumstances in many times, has been really remarkable. That’s something that we appreciate as a league and I know that the Denver community does also. So, thank you to them.”
The group recently added seven-time Formula One champion, Lewis Hamilton last week, and the Denver Broncos now not only boasts of one of the best quarterbacks in the league but also the richest ownership group in football.
“We are grateful for the support and the trust of the National Football League and the 31 other teams with today’s vote,” said Rob Walton in a statement released by the team. “We couldn’t be more excited to join the Denver Broncos.”
“It’s a responsibility and privilege to serve as stewards of such an iconic franchise. We have tremendous respect for what Pat Bowlen has meant to the Broncos and look forward to building on this organization’s championship legacy. While we’re deeply committed to fielding a great team to win Super Bowls, our family and extraordinary partners are also dedicated to our off-the-field responsibilities to Broncos Country and the Rocky Mountain region.”
“Operating with integrity and accountability, we aim to draw on our individual strengths and those of the players, coaches, and staff who have shaped the Broncos’ storied history. And to that end, we want to thank Joe Ellis for his guidance throughout this process and his willingness to serve as an advisor to ownership for this season. Across the entire organization, we will all continue to listen and learn. Most importantly, we will strive to make the Denver Broncos the best team to cheer for, play for, and work for in all of sports. Go Broncos!”
Walton also confirmed that the Denver Broncos were the only sports franchise they wanted and that the conversation and interest to acquire the team goes back 10 years to when the prospect of acquisition became a possibility. The entire ownership also owns property in Colorado and everyone, except for Sir Lewis Hamilton, will be in Denver this morning to meet with staff and players.
New Broncos Head Coach Nathaniel Hackett, spoke with the media on Tuesday and congratulated the new owners saying that he was “very excited to get to work with them” and to help make the team better every day.
“I think they reinforced the importance of the Denver Broncos to that community, the importance to the NFL, and the fact that they are enthusiastic about joining this group as well as owning the Broncos and being part of the Denver community,” Commissioner Goodell told reporters on Tuesday. “I think they’re going to be extraordinary owners and ownership that I think Pat Bowlen would be proud of.”
-Maher Abucheri
Twitter: @pabloikonyero