A group led by Walmart heir Rob Walton has agreed to buy the Denver Broncos for $4.65 billion, pending NFL approval.
Walton will be the majority owner. His daughter, Carrie Walton Penner, and his son-in-law, Greg Penner, will become minority owners.
The Walton-Penner group announced Tuesday evening that Ariel Investments co-CEO Mellody Hobson will also be joining ownership.
Hobson is a 53-year-old businesswoman with an impressive resume.
“Beyond her role at Ariel, Mellody is an influential leader in corporate and civic organizations across the nation,” Rob Walton said in a press release.
“Mellody currently serves as Chair of the Board of Starbucks Corporation and is also a director of JPMorgan Chase. We know she will bring her strategic acumen and leadership perspective to our team.”
After the Broncos announced they were going up for sale in February, NFL commissioner Roger Goodell said the league wanted the team to sell to a diverse ownership group.
The team’s pending new ownership group includes two women in Carrie Walton Penner and Mellody Hobson, the latter a Black minority owner.
Hobson and her husband, George Lucas, live in California with their daughter, Everest.
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