Broncos now sport the NFL's richest, most diverse ownership (2025)

By Arnie Stapleton/AP

The Denver Broncos now sport the wealthiest owner in the NFL and the league's most diverse ownership group.

Four of the six members of theWalton-Penner ownership groupwhich was welcomed into the NFL fraternity this week, are either women or minorities.

Walmart heir Rob Walton said Wednesday that his son-in-law,Greg Penner, will serve as CEO of the team. Penner, in turn, said he'll soon hire a team president.

Those roles had been held by Joe Ellis, who is staying on this year as an advisor.

Penner said he'll be the point person “but this is an incredible group. We're going to draw on all of them.”

Walton thanked Ellis for his 27 years of service and paid tribute to the late Pat Bowlen, who purchased the team in 1984 for $78 million and who died in 2019 a month shy of his induction into the Pro Football Hall of Fame.

“Pat Bowlen built a great legacy and a record of winning and championships,” Walton said. “We plan to do everything we can to build on the championship tradition of this great organization. ... Simply put, it's an honor to steward this historic franchise. Our No. 1 priority is putting a winning team on the field to win Super Bowls.”

Walton, the oldest child of Walmart co-founder Sam Walton, bought the Broncos along with his daughter, Carrie Walton Penner, and her husband, for $4.65 billion, a global record for a professional sports franchise.

Walton's estimated net worth is $60 billion. Before Walton's group purchased the Broncos, the NFL's wealthiest owner was Carolina’s David Tepper, whom Forbes estimates has a total net worth of $16.7 billion.

The ownership group includes limited partners Mellody Hobson, Condoleezza Rice and Lewis Hamilton. Hobson is CEO of Starbucks, Rice is a professor at Stanford and former U.S. Secretary of State and Hamilton is the winningest Formula One driver in history.

All three investors are Black, satisfying the league’s goal to bring more racial diversity into ownership groups, front offices and coaching staffs.

“We wanted to add people that brought different perspectives and experiences and certainly we have that here,” Penner said. "Lewis, being the G.O.A.T. (greatest of all time) Formula One driver, Dr. Rice with all of her experience in politics and academics and world affairs, Mellody, as a you know, an incredible businesswoman and her track record there.

“We’re big believers in bringing together different perspectives and experiences and backgrounds and that we think will make us more successful.”

All but Hamilton, who's in season, gathered at team headquarters a day after fellow NFL owners unanimously approved the sale Tuesday in Minnesota.

The Broncos new ownership group met with staff and players before practice and star safety Justin Simmons said he was proud to see so many faces of color.

“To see some diversity and to see strong, Black women in the ownership group, I mean, what an inspiration for so many people," said Simmons, who is biracial. "There's little girls out here whose dads play on the team and they can look up at the ownership of the Broncos and they can see someone that looks just like them and I think that's really great.

“But I think the biggest thing on top of that is they didn't just do that to do that,” Simmons said. “I mean, these are really powerful, qualified individuals that deserve this, earned this, worked for this. And that to me in inspiring.”

Hobson called it “such an honor and a privilege to be an owner of this remarkable organization. ... The moment is humbling and it's historical, and yet, I feel at home.”

Hobson said when she was first approached about joining the ownership group, she encouraged Walton to also bring aboard her friend Hamilton.

“Lewis is my chosen little brother,” she said. “As soon as this opportunity came up, I said, ‘You have to have Lewis.’ I met Lewis in his rookie season as an F1 driver We bonded over time. As many of you know, he was knighted by Queen Elizabeth and I call him, ‘Sir Little Brother.’

“He has this winning mentality not just on the track but in everything that he does. He cares deeply about people, about our planet and as the first and one (Black F1 driver) in his sport, about diversity, equity and inclusion.”

Rice, who grew up in Denver, joked that her late father, who was a big football fan, “has to be thinking, ‘She finally got a really important job.’”

Penner, who said he doesn't anticipate bringing aboard any more limited partners, demurred when asked if John Elway or Peyton Manning would be involved with the team going forward.

The new owners met with both on the field Wednesday. Elway told The Associated Press earlier this year that he'd like to advise the new owners to help them in their first year.

“We're just going to learn from both of them," Penner said. "I think it's going to be a really good relationship.”

While saying he was thrilled that GM George Payton acquired quarterback Russell Wilson this spring, Penner gave no timeline for a contract extension that's expected to be worth about $260 million over five years.

Broncos now sport the NFL's richest, most diverse ownership (2025)

FAQs

Broncos now sport the NFL's richest, most diverse ownership? ›

9, 2022. The record $4.65 billion sale of the Denver Broncos to Walmart heir Rob Walton and his daughter and son-in-law was unanimously approved Tuesday by NFL owners, the expected final step in the transfer from the family of the late Pat Bowlen.

Who are the richest NFL owners in Broncos? ›

Surprisingly, the wealthiest owner is Rob Walton, the heir to the Walmart empire. Walton acquired the Broncos along with his sister Carrie Walton Penner and her husband Greg Penner, and a number or minor shareholders. Walton's net worth is nearly triple that of the Hunt family, at a staggering $77.4 billion.

What happened with the Broncos ownership? ›

The Broncos yesterday "finalized a change in their designated controlling owner" from Rob Walton to team CEO Greg Penner, the team confirmed. The move became official yesterday, when the NFL's finance committee "reviewed the details of the change and gave it unanimous support," according to a league source.

What percentage of the Denver Broncos does John Elway own? ›

At $4.65 billion, John Elway's 20% stake that he could have gotten for $36 million would be worth $930 million today. That would represent a 1,330% return. Instead of accepting Bowlen's offer, Elway made some questionable investments.

How much did the owner pay for the Broncos? ›

The Denver Broncos have shifted controlling ownership of the team from Walmart heir Rob Walton — who led last year's then-record $4.65 billion purchase of the team — to son-in-law and CEO Greg Penner.

Who is the richest owner of the NFL? ›

Walton is considered the richest owner in the NFL by net worth. According to Forbes, Walton's net worth is $77.4 billion, which makes him more than twice as rich as any of the other NFL ownership groups.

Who is the richest NFL player of all time? ›

Former National Football League (NFL) player and executive Jerry Richardson was the richest NFL player of all time as of January 2023, with a net worth of around two billion U.S. dollars.

What happened to John Elway's son? ›

Jack Elway, the son of Broncos executive vice president of football operations and general manager John Elway, pleaded guilty and was sentenced to a year of probation in the domestic violence case against him.

How many car dealerships does John Elway own? ›

The group now operates 7 dealerships across California, Colorado, and Utah. In 2017, John Elway's Claremont Chrysler Dodge Jeep Ram opened with a state-of-the-art 65,000-square-foot facility.

Who owns most of the Broncos? ›

Rob Walton and Greg Penner (2022–present)

The Broncos are currently owned by the Walton-Penner group.

What NFL team does Walmart own? ›

The record $4.65 billion sale of the Denver Broncos to Walmart heir Rob Walton and his daughter and son-in-law was unanimously approved Tuesday by NFL owners, the expected final step in the transfer from the family of the late Pat Bowlen.

How many owners do the Broncos have? ›

Greg Penner, who succeeded Rob Walton as Walmart's chairman in 2015, and Carrie Walton Penner each held 30% of the team -- for a combined Walton-Penner stake of 94%. The three other Broncos owners -- Hobson, Hamilton and Rice -- combine to hold the other 6%.

How much is Sean Payton getting paid by the Broncos? ›

According to NBC Sports' Peter King, Sean Payton's contract with the Broncos is for five years and “in the neighborhood of” $18 million a year. That number would make Payton the second-highest-paid coach in not just the NFL, but in all of American sports.

Which NFL owner has the least money? ›

So without further ado, let's take a look at the least wealthy owners in the NFL.
  • Michael Bidwill - Arizona Cardinals. ...
  • Amy Adams Strunk - Tennessee Titans. ...
  • Virginia Halas McCaskey and Family - Chicago Bears. ...
  • Zygi Wilf - Minnesota Vikings. ...
  • Steve Tisch - New York Giants. ...
  • Joe Ellis (Pat Bowlen Trust) - Denver Broncos.
Nov 13, 2020

How much is the McCaskey family worth? ›

Who is the Owner of the Chicago Bears?
OwnerAgeNet Worth (Forbes)
Virginia McCaskey92$1.3 billion
Patrick Ryan77N/A
Andrew McKenna84N/A
Oct 6, 2023

Who is the major owner of the Denver Broncos? ›

Greg Penner is in his third season as Owner & Chief Executive Officer of the Denver Broncos in 2024. He is designated as controlling owner of the Walton-Penner Family Ownership Group, which was unanimously approved by the NFL to purchase the Broncos on Aug. 9, 2022.

What is Robert Kraft's net worth? ›

He also owns the New England Revolution of Major League Soccer (MLS), which he founded in 1996, and the esport-based Boston Uprising, which Kraft founded in 2017. As of July 2024, he has an estimated net worth of US$11.1 billion according to Forbes. Brookline, Massachusetts, U.S.

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