Former Secretary of State Condoleeza Rice will join the ownership team of the Walton Penner Group that is attempting to purchase the Broncos. Daughter of a football coach, Rice has been involved with football since leaving public service. She was part of the College Football Selection Committee.
Walton is the heir to the Walmart fortune, with his daughter Carrie Walton. Included in the group is Carrie’s husband, Greg Penner, and Mellody Hobson, the co-CEO of Ariel Investments and the chair of the board for Starbucks board. The group reportedly agreed to purchase the Broncos for $4.65 billion in June of this year.
The sale of the Broncos is under review and is required to go to a vote of all NFL teams. The sale must be approved by 24 of the current owners to be approved. The process is expected to take between 60 and 90 days.
Condoleeza Rice moved to Denver when she was 12 years old and graduated from the University of Denver. She later received her PhD from the University as well. Condoleeza Rice has also been named 4 times to the Times 100 Most Influential People List.