Broncos add Condoleeza Rice as a minority owner

The Broncos announced Monday morning that the Walton-Penner Ownership Group has added Condoleeza Rice as a minority owner.

“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,” Rob Walton said in a statement. “Her unique experience and extraordinary judgement will be a great benefit to our group and the Broncos organization.”

Last month, the group led by Rob Walton, Greg Penner and Carrie Walton-Penner agreed to purchase the Broncos for a world record price of $4.65 billion.

In his announcement, Rob Walton said Mellody Hobson will be a minority owner, the first Black woman to own a stake in an NFL team.

The Walton-Penner Group must still wait for the NFL’s Finance Committee to approve their bid, which will then be passed on to the league’s team owners for a final approval. It remains likely the Broncos will have new owners by the time they open the season Sept. 12 at Seattle.

This story will be updated.