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The ‘new kids on the block’ of NFL ownership are no slouches when it comes to running businesses.
Yesterday, the NFL owners approved the sale of the Denver Broncos to the Walton-Penner ownership group.
A majority of ownership goes to three people tied to the Walton family fortune created from Sam Walton’s company, Walmart.
The Broncos had been owned by the trust of the late Pat Bowlen, who died in 2019 after a battle with Alzheimer’s disease.
This purchase makes the Broncos one of the ten most valuable franchises in the NFL, after being purchased by one of America’s richest families.
(L to R) Greg Penner, Mellody Hobson, Rob Walton, Condoleezza Rice, & Carrie Walton-Penner
Additionally, it creates something of a professional sports monopoly in the Denver area.
In addition to this purchase, three of Denver’s other sports teams: the NHL’s Colorado Avalanche, the NBA’s Denver Nuggets, and the Colorado Rapids of MLS are owned by Kroenke Sports and Entertainment.
That company is run by Stan Kroenke, who is married to Ann Walton, another heir to the Walmart fortune, and the main owner of the Nuggets and Avalanche.
This leaves the Colorado Rockies of Major League Baseball as the only team in the Denver area not owned either directly or by relation to the Walton family.
The Walton-Penner ownership group has six principal investors, with three tied to the Walton family, and three others not related to the family.
Rob Walton, age 77
Rob is the oldest son of Walmart founder Sam Walton and the third richest of Sam’s children according to Forbes.
Forbes lists Rob’s net worth at $65 billion dollars, just $300m behind his sister Alice and $1.2b behind youngest brother Jim.
That valuation puts Rob as the 19th richest person in the world according to Forbes, and now makes him the richest owner of an NFL team.
Rob took over as chairman of the Walmart board of directors in 1992 after his father’s death, and ran the company until 2015, when he passed control to son-in-law Greg Penner.
Rob Walton takes the podium after being named owner of the Denver Broncos
Greg Penner, age 52
Penner was given the reins of Walmart by father-in-law Rob in 2015 and still currently serves as chairman of Walmart’s board.
He has an estimated net worth of over $1b and previously worked as a financial analyst at Goldman Sachs.
Penner started at Walmart as a store employee before becoming CFO of Walmart Japan and being appointed to the Board of Directors in 2008.
Greg met Carrie Walton, Rob’s daughter, while attending Georgetown University and married into the Walton family.
Walmart chairman Greg Penner is one of the new owners of the Denver Broncos
Carrie Walton-Penner, age 51
Carrie’s role within the Walton family is heavily focused on the family foundation, which was founded in 1987.
The Walton Family Foundation has primarily focused on building and propelling the charter school movement in the United States, with Carrie becoming one of the more influential voices in the school choice issue in the country.
Carrie’s net worth is estimated to be around $5b.
Carrie Walton-Penner now owns the Broncos with her husband and father
Mellody Hobson, age 53
Mellody Hobson is a media personality and businesswoman, who serves various roles at investment companies and Fortune 500 companies.
Hobson is the President and co-CEO of investment firm Ariel Investments and also serves as chairwoman of Starbucks.
She also previously served as chairwoman of Dreamworks Animation before its sale to NBC Universal in August of 2016.
Hobson is a regular contributor on CBS This Morning, talking about financial issues affecting every day Americans.
She is also married to Star Wars filmmaker George Lucas.
Her net worth is estimated to be around $120m.
Mellody Hobson became a part of the ownership group in June
Dr. Condoleeza Rice, age 67
While she may be most well-known for her public service, Condoleeza Rice has a rich and heavily involved background in the world of sports.
Dr. Rice became well-known when she served as Secretary of State under former American President George W. Bush.
In doing so, she became the first black woman to serve in the position, taking over from Colin Powell.
After leaving the White House, Rice became a professor at Stanford University and branched out into the world of sports.
She was chosen as one of the 13 inaugural members of the College Football Playoff selection committee, serving from 2013 to 2016.
Rice, who grew up a lifelong Cleveland Browns fan, was even rumored to be a candidate in the Browns head coaching search in 2018.
Outside football, Rice became one of the first two women to be admitted as members to the Augusta National Golf Club, home of The Masters tournament.
Rice has an estimated net worth of $12m.
Former Secretary of State Dr. Condoleezza Rice joined the ownership group in July
Sir Lewis Hamilton, age 37
Statistically the greatest Formula One driver in history, Sir Lewis Hamilton was a late addition to the ownership group.
The seven time World Drivers Champion is the record holder for the most wins and pole positions in an F1 career.
The British-born Hamilton has an affinity for the state of Colorado, with a sprawling mega mansion located in Eagle County near many major ski resorts.
Hamilton has said the mountains of Colorado are where he likes to call home, saying, ‘it’s full of love and memories from people, the family that come every winter’.
Sir Lewis has a reported net worth of around $285m.
Formula One icon Sir Lewis Hamilton joined the Broncos ownership group last week
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