After a 1-5 start, the Denver Broncos are making significant changes to their personnel. Not only are players getting shipped out, but Denver has also made a key decision regarding their ownership structure, even if it likely doesn’t have anything to do with how the team is performing on the field.
When the Broncos were purchased for a then-record-setting amount of $4.65 billion, the controlling owner was Walmart heir Rob Walton. That’s no longer the case.
Now, the Broncos have made Walton’s son-in-law Greg Penner the new controlling owner.
Yet, Penner has been operating in essentially the same role since the Broncos were purchased 14 months ago, making this change fairly routine. Still, now, instead of Walton being the man in charge, that title officially shifts to Penner instead. Being that the team has stumbled out of the blocks, it’s a move with curious timing.
In addition to the title change, Walton has also transferred a portion of his ownership stake to Penner and his wife’s four children.
While the new title is significant, there will be no changes in how the Broncos are operated from day to day. It’s instead part of a bigger plan to help ensure the Broncos have more long-term stability at the top.
