New owners present vision to team
Rob Walton said son-in-law Greg Penner is the Broncos’ new CEO
The whirlwind continued Wednesday for the WaltonPenner ownership group, whose $4.65 billion purchase of the Broncos was finalized Tuesday in suburban Minneapolis.
Rob Walton, Greg Penner, Carrie Walton Penner, Mellody Hobson and Condoleezza Rice visited with the Broncos’ players, met with the club’s senior executives, held a meet-and-greet with team employees in the fieldhouse, introduced themselves to the wives and family members of players, coaches and other staffers, watched practice and attended a news conference. All before 2 p.m.
Now the work begins. Getting familiar with the NFL. Hiring a team president. And supporting the football side in their effort to break a six-year playoff drought.
“Following the footsteps of (late owner) Pat Bowlen and (outgoing president/ CEO) Joe Ellis is no small feat,” Penner said. “Their leadership has meant success on the field, impact in the community, and, of course, (three) Super Bowl championships.”
Said Ellis in prepared remarks: “Looking ahead, I’m convinced the WaltonPenner group will be caring stewards of the Broncos, honor the championship traditions and honor everything done in the past, but more importantly, I believe this group will put its own stamp on the Broncos, helping this organization achieve incredible things as we move forward.”
During the carefully orchestrated news conference, which lasted 27 minutes beginning with Walton’s opening address, all five owners in attendance gave statements, but only Penner was available to answer questions. The group also posed with Broncos’ No. 22 jerseys with their last names stitched into the back.
Penner is CEO
What’s the story: Ellis officially resigned from his president/ceo post Tuesday and the expectation since the agreement was signed in June was that Penner, the son-in-law of Rob Walton, would be the Broncos’ new day-to-day point person. Penner was named CEO Wednesday and said he will hire a new team president, presumably to run the business side. There will not be an official board of directors.
Penner said: “Everybody’s going to be involved. Obviously with six of us, somebody has to be the point and I’ll take that role. We’re going to draw on all of them as we go through this. Rob and Carrie will be here a lot with me as well.”
Comment: The best setup is dividing the organization into the football and business sides and having a person at the top who is the no-doubt leader of both. That will be Penner.
Ownership’s vision
What’s the story: Practice was scheduled to start at 10 a.m., but was delayed in part because the ownership group was meeting with players.
Penner said: “The big vision is we want to win football championships. We want to do it in the right way. The first place you have to start (is) with the people. … Our Broncos fans have high expectations. We know that and we embrace that. We believe a winning team and winning organization require the right people, (have) high expectations, (get) the necessary resources and (there is) accountability. We’re committed to that.”
Comment: The Broncos’ players and coaches will receive all the resources possible to be successful. There will be no excuses.
Hobson’s dream
What’s the story:
Wednesday was the first opportunity to hear from Hobson, who was the first limited partner announced by the ownership group when the sale was agreed upon. A successful businesswoman and leader, this is Hobson’s first entrance into sports. Hobson and Rice are the first two Black women to be a part of an NFL ownership group.
Hobson said: “As someone once wrote, ‘If you are going to exceed your wildest expectations (and) your wildest dreams, you have to start with some pretty wild dreams.’ This is certainly in this category.”
Comment: Leave it to safety Justin Simmons to describe the impact of Hobson and Rice joining the Broncos. “To see some diversity and to see strong, Black women in the ownership group — what an inspiration,” he said. “There are little girls out there whose dad plays on the team and they can look up (to the) ownership of the Broncos and see someone who looks just like them.”
Rice back in Denver
What’s the story: Rice attended high school and college in the Denver area and was taught the game of football by her father.
Rice said: “It’s great to be back in Denver. In days when communities are ripped apart by so much, the football team, like the Broncos, can be a source of unity, a source of common purpose (and) a source of common pride. I very much look forward to being a part of this great Denver community and all the Broncos mean.”
Comment: Penner said the objective of adding Hobson, Rice and Sir Lewis Hamilton was to “add people that brought different perspectives and experiences.” That has been achieved through Hobson (business), Rice (politics) and Hamilton (world championship-winning race car driver).