The Walton-Penner ownership group is about to enter its second full season as the principal owners of the Denver Broncos and seems to be pressing all the right buttons lately. They renovated the field at Empower Field, brought in a future Hall of Fame coach, and signed off on several splashes so far in free agency. However, this should be just the beginning. Ownership should have their eyes set on much more success down the line, and the Broncos might be able to look to a fellow billionaire owner to help find inspiration for what to do next: Here are three lessons that the Walton-Penner group can learn from baseball's Steve Cohen of the New York Mets.
1) Flex Your (Financial) Muscles
The Walton-Penners are the richest owners in football, on top of being some of the richest people in the world, point blank. One of the advantages that this gives the Broncos is loading more cash into deals, and being able to assemble a more expensive staff. The Broncos have already done this with some of their more recent free agency deals, and in their recent deal with head coach Sean Payton. They've been able to use their influx of cash to get most of this done, but the Broncos were in spots where they needed to be aggressive.
The new ownership group will need to be able to show this is something they're willing to do when the team is good, has draft capital, and doesn't need to break a string of head coaching failures. Steve Cohen of the Mets has assembled the largest payroll in baseball history and has done so while also publicly commenting that he will do what he has to do to win, even if that means taking a loss financially for a few seasons, knowing that he can make up for the losses with his finances from his other venture. The Walton-Penner group must know that the Broncos are going to take some heavy lifting to get back to relevancy and winning ways, but they must be willing to put their bags on the table and outmuscle everyone else.
2) Resolve The Stadium Situation
Thankfully, the Broncos have had this part of the plan in action for some time now. Even before the fire that took our part of the stadium last year, the Broncos needed some upgrades to their home field. The team has sent out surveys to the fans about what might be best suited for the greater identity of Broncos fans, but the team needs to listen to these results. The fans are the ones who fill the stadium and sell out the merchandise, so making this about what makes the most profits or what will cost the least would be counterproductive to the entire idea of polling the fanbase.
The Mets recently built a new club at their home stadium, Citi Field, moved the fences in, and renovated their scoreboard. The Broncos are in a unique spot where they can create a first-class sporting and event venue, while also maintaining their stay in downtown Denver along with Coors Field and Ball Arena, something that is unique to Denver. Keeping the stadium accessible and convenient for the fan is key, while also bringing in needed upgrades. Whatever the team decides to do, keeping the interest of the fans in their mind is of the most importance, especially considering the average cost of attending an NFL game, or holding NFL season tickets. The fans put a load of effort into being able to make it to games and put their money into the organization, so the organization should make sure to reward and thank the fans at the same time.
3) Make Games Easier For The Common Fan
One thing that can be said for most every sporting event is that it can be expensive. However, there are ways around this to make the experience easier for the average fan. Steve Cohen and the Mets have recently announced a new sales plan for college students, starting baseball tickets at fifteen dollars for college kids. That's right, a professional sporting event, and a popular one with a good team in a major market at that, for just fifteen dollars. While I don't think the Broncos are going to sell tickets for just fifteen dollars, that doesn't mean that they can't find a way to produce cheaper tickets for specific groups of fans.
They could create their own college student plan, but could also create discounts for first responders, single-parent families, or any other group that might be more susceptible to financial hardships. The gesture would show care for the fans of the Broncos and also make it clear that this new venture goes well beyond just a financial gain for the Walton-Penner family. Buying the goodwill of the fan is never a bad idea, and one place where the common fan can often feel the biggest hurt from attending a football game or buying merchandise is in the pocket. Undoing a bit of this burden would be able to help the fan experience.