DENVER (KDVR) — The new Denver Broncos’ ownership group announced it has added former Secretary of State and University of Denver alumni Condoleezza Rice to the team.
Rob Walton released the statement on behalf of the Walton-Penner Family Ownership Group on Monday.
“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.”Rob Walton
Rice was the U.S. secretary of state from 2005 to 2009 under President George W. Bush.
The ownership group has been reportedly talking to Peyton Manning about a potential role in the organization. Broncos CEO Joe Ellis said the future of Mile High will be the new owner’s top priority.
At this point, the new ownership group has reached a purchase agreement from the Pat Bowlen Trust but there are still several steps before the sale is finalized.
The Bowlen Trust was established before Pat Bowlen’s death and was composed of his children. In the years since there have been several lawsuits, but last year the final suit was settled and an agreement to sell the team was reached.
There were several bids for the team, but the Walton-Penner Group, as it’s being called, submitted a bid for $4.65 billion that was selected as the winning bid.
Walton is the chairman of the Walmart Board and an heir to Sam Walton, the company’s founder. Forbes estimates his net worth at $58.8 billion.