When the Walton-Penner family purchased the Denver Broncos last year, Walmart heir Rob Walton purchased a majority of the team, but his son-in-law, Greg Penner, has been serving as the team’s day-to-day owner.
Penner has been listed as a co-owner and chief executive officer on the team’s official website. Going forward, Penner will be the team’s new controlling owner after Walton transferred part of his ownership stake to his grandchildren, according to The Denver Post‘s Parker Gabriel.
The four children of Greg and Carrie Walton Penner now have ownership in the team, but they will have no team duties in the foreseeable future.
To be considered a controlling owner in the NFL, Greg Penner must own at least 30% of the team. It’s unclear exactly how the percentages break down between Rob Walton, Greg Penner, Carrie Walton Penner and the grandchildren.
The Walton-Penner family purchased the team for $4.65 billion last year. They then brought in Condoleezza Rice, Lewis Hamilton and Mellody Hobson as minority owners. The team is now worth an estimated $5.1 billion, a 10% increase from 2022.
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