Former U.S. Secretary of State Condoleezza Rice has been added to the new Broncos ownership group.
Rob Walton announced the inclusion of Rice in a statement issued Monday on behalf of the Walton-Penner family ownership group. The group agreed to buy the franchise from the Pat Bowlen Trust last month for a reported $4.65 billion. It’s pending approval by the NFL.
“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,” Walton said in a statement. “Her unique experience and extraordinary judgment will be a great benefit to our group and the Broncos organization.”
Rice has strong ties to the Denver community. She received her undergraduate degree and Ph.D. from the University of Denver.
The former provost at Stanford University, Rice served as Secretary of State under President George W. Bush from 2005-09. She’s also been on the College Football Playoff selection committee and chaired a commission on college basketball.
The new ownership group is led by Walton and includes his daughter, Carrie Walton Penner, and her husband, Greg Penner.
Walton, 77, was chairman of Walmart, the world’s largest retailer, from 1992-2015, when he retired. He is the eldest son of founder Sam Walton and Helen Walton and has an estimated net worth of nearly $60 billion US.