The Walton-Penner Family Ownership Group has reached a purchase agreement with the Denver Broncos. What do we need to see from them now and in the future?
The Denver Broncos finally have a new ownership group in place. The Walton-Penner Family Ownership Group reached a purchase agreement that, for the time being, makes the Broncos the most expensive sports franchise purchase of all time at $4.65 billion.
It’s a stunning business deal for the new ownership group and for the Denver Broncos, and as details continue to emerge, Broncos Country has every reason to be excited.
The ownership group is well-rounded, led by former Walmart chairman Rob Walton (the eldest son of Sam Walton), his daughter Carrie Walton-Penner, her husband and current Walmart chairman Greg Penner, and Co-CEO of Ariel Investments Mellody Hobson, one of the most successful businesswomen in the world.
They’ve made the financial investment, so what is next? What kind of action do we want to see from a new ownership group?
Here are six things — in no particular order — that I would consider high priorities.
Denver Broncos ownership priority no. 6: Sign off on a massive Russell Wilson extension
One of the first orders of business for this new ownership group will be to continually provide general manager George Paton with every asset he needs to make the team the best it can possibly be.
That will start with opening up the checkbook for quarterback Russell Wilson.
Wilson hasn’t even played a down for the Denver Broncos yet, but that doesn’t matter. Wilson is a proven superstar at the game’s most important position and his presence on the roster undoubtedly made the purchase of this team all the more attractive.
Although speculation has run rampant that Wilson could seek a 5-year, $250 million deal, all that is is speculation based on market value at this point.
It’s probably not far off, though.
Could Russell Wilson reset the market and get the biggest fully guaranteed contract in NFL history? It’s not impossible now that the Denver Broncos have an ownership group worth more billions than any other in the NFL.
Denver Broncos ownership priority no. 5: Don’t meddle with George Paton and the football people
We’ve seen throughout the history of professional sports what kind of harm a meddling owner is capable of doing on a franchise.
Although the Cowboys are a rather successful business and organization, they haven’t been a successful football team for the last three decades and you can’t help but think that part of that is due to the fact that owner Jerry Jones needs to have his hand in the construction of the roster.
Is Jerry Jones a bad talent evaluator? No, not exactly. Does he have a bad front office? No, that’s not what I’m saying either.
What I am saying is that Jerry Jones’ influence over roster decisions with the Dallas Cowboys has arguably hurt the team more than it has helped.
He’s not the only example either.
There are plenty of owners all over the American professional sports landscape that simply try to do way too much when it comes to the football side of things.
Let the football people do what they do.
George Paton has proven he’s one of the sharpest young general managers in the game. He’s got a great eye for talent and he’s been plenty aggressive in upgrading the roster, so the new ownership group won’t have to worry about whether Paton is willing to make tough calls or take big risks.
Keep the football side of things with George Paton.
Denver Broncos ownership priority no. 4: Be willing to do whatever it takes to win
For Pat Bowlen, it was being #1 in everything.
Hopefully, it’s the same for this new ownership group.
Under Pat Bowlen, the Denver Broncos were always willing to do whatever it took to win football games.
After John Elway retired, the team’s aggressiveness ramped up significantly.
They signed free agent quarterback Jake Plummer in hopes of reviving the team’s championship aspirations, and if only for a short time, that’s exactly what happened.
After getting torched by Peyton Manning in the postseason, Bowlen signed off on a bold trade of his team’s star running back — Clinton Portis — for cornerback Champ Bailey.
From doing what it takes to sign defensive lineman Neil Smith away from the rival Kansas City Chiefs to signing off on a $100 million deal for an injured Peyton Manning, Bowlen was willing to do anything to get the Denver Broncos in Super Bowl contention.
And they won three titles under his reign.
I’m not going to sit here and say that a new owner should just open up the checkbook and let George Paton do whatever he wants, but I also kind of am saying exactly that.
The Los Angeles Rams are setting the example right now of an aggressive GM and an aggressive owner, and it’s hard to argue with the results as they are the reigning Super Bowl champions.
This goes back to trusting football people like George Paton with football decisions, but the ownership group has deep pockets and they should be wise but also aggressive and certainly not stingy.
Denver Broncos ownership priority no. 3: New uniforms (at some point)
The Denver Broncos have been wearing their current uniforms since the 1997 season.
These uniforms have tremendous sentimental value to the franchise because they are the uniforms in which the team won its three Super Bowl titles.
The uniforms themselves are considered by some to be out of date, but to be quite blunt, that couldn’t be further from the truth.
The Denver Broncos have one of the most unique looks in the NFL when it comes to uniforms, logo design, and helmets.
There is nothing wrong with these uniforms at all except for the fact that the Broncos have worn them for a really long time.
Some teams never change their uniforms and preserve the history attached to them. Some teams change uniforms all the time and they can’t seem to find a good enough look or identity as a franchise.
The last thing we want is for the Denver Broncos to make another 25 year commitment to a certain uniform look that is a total dud.
With that being said, I think that most everyone in Broncos Country could get on board with a new look that includes some type of homage to the uniforms the team wore back in the 70s, 80s, and most of the 90s.
Specifically, going back to that color scheme and perhaps even simplicity. The Denver Broncos’ logo back then — the famous “D” logo — is certainly beloved by most everyone in Broncos Country but the new logo is just a much better design.
The team might opt for a complete rebranding at some point, but maybe for a period of time, they end up going back to the retro look and archive the current uniforms.
Denver Broncos ownership priority no. 2: Get an NFL Draft in Denver
Having the wealthiest ownership group in the entire NFL will definitely mean having some serious pull with the league.
At least, one might assume it would be.
One of the things a new owner should work to accomplish is getting an NFL Draft hosted in Denver.
Since the NFL decided to take that particular show on the road, the NFL Draft has become a wildly popular event for fans to attend in person. Not only does it provide host cities a great opportunity for the team and local economy to shine, but it also could serve as a precursor to the city of Denver hosting a Super Bowl.
More on that in a bit.
Having the NFL Draft in Denver is something the team has advocated for in the past, and it’s something I think a new ownership group will certainly advocate for again.
Is this something that is super high on the list of priorities for the Denver Broncos? Probably not, but then again, it does feel like the league is making its rounds.
The 2023 NFL Draft will be held in Kansas City. The 2024 NFL Draft will be held in Detroit.
Could a future NFL Draft be held in Denver? That’s more than just a probability with a new ownership group in place, in my opinion.
Denver Broncos ownership priority no. 1: Host a Super Bowl in Denver
This may be a long-distance projection, but it’s something to keep in mind for the next decade or so.
The NFL doesn’t always have the Super Bowl in warm-weather climates, but they typically play in either a warm-weather NFL city or a city that has a retractable roof stadium.
The Broncos played in one of the most recent Super Bowls that was in the “elements”, a 49-degree game against the Seattle Seahawks in East Rutherford, NJ.
Not bad for that part of the country at that time of year, but it certainly wasn’t a tropical or vacation destination environment like we typically see in the Super Bowl.
Eventually, it would be a “grail” type of goal for the new Denver Broncos ownership group to get the opportunity to host a Super Bowl in the Mile High City.
There’s no doubt that Denver is one of the best football cities in the world and with some of the richest football tradition and history.
Having the Super Bowl in Denver would be a no-brainer if the weather and stadium were of no issue.
Unfortunately, I’m not sure the current stadium is an appealing destination for the Super Bowl. Other NFL stadiums have retractable roofs, more seating, much easier opportunities to welcome a massive media presence and tourists.
I think in order for this to happen, the Broncos would need a new stadium in a new location. As much as that might upset a lot of longtime fans, it could also be the best move for the franchise long-term.
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This is likely way down the road, but it’s something to keep in mind as a potential priority of new ownership.