The destruction of the Denver Broncos: The sale of the team
Because of unfortunate circumstances within the Bowlen family where the Pat Bowlen Trust deemed that no one in the family could meet the requirements to be the team’s new owner, the Broncos were put up for sale.
Because of the price tag attached to such a sale, only a handful of people on the planet had the resources to purchase the team. Just prior to the start of this season, a group led by Rob Walton agreed to purchase the team for a record $4.65 billion.
What do we know about this group? Well, not much. We know that Walton is the heir to the Wal-Mart fortune. The rest of the group includes Carrie Walton Penner, Greg Penner, Mellody Hobson, Condoleezza Rice and Lewis Hamilton.
Greg Penner, who is the chairman of Wal-Mart, is now the CEO of the Broncos and it seems that it will be he who is tasked with making a major decision soon. Does he have the kind of football savvy to make the right decision though? That is a major question.
This ownership group did not hire Paton as its general manager. That is key. They may have their eyes on someone who could come in and put together a plan to get this ship turned back around. Or, they could be much more interested in how Wal-Mart performs and just have the Broncos as a fun little hobby, who knows?
One thing is quite certain. The machine that Pat Bowlen built is gone… and it may never come back.