After the Walton-Penner family purchased the Denver Broncos in 2022, Greg Penner was named the team’s chief executive officer.
As the CEO, Penner handles the team’s day-to-day ownership duties. Denver’s ownership group includes six members, but none of them are as hands-on as Penner, who has the biggest role. After Rob Walton transferred part of his ownership stake to his grandchildren last fall, Penner also became the team’s new majority owner.
Penner and Co. took over the team in late summer 2022 just before the season started, so they did not experience free agency or the NFL draft in Year 1. After having gone through a full offseason and season in 2023, Penner is now entering Year 3 as the Broncos’ owner.
During his end-of-season press conference on Jan. 9, Penner was asked what he learned from his first to second season in the NFL.
“First and foremost, what our fans deserve and expect here is a very high standard,” Penner said. “That was reinforced again in the second year. I would say that I’m a big proponent of constant learning. Sam Walton would always say, ‘Once you think you’ve got it all figured out, that’s about when you’re ready to fail.’ When we’re here Year 19 [or] 20 and we’re having this conversation, I’ll still be learning.”
Penner believes he’ll never stop learning on the job. Last year, he spoke with head coach Sean Payton and general manager George Paton throughout the season to continue learning about the ins and outs of an NFL team.
“For me personally, practice is a great opportunity,” Penner said. “I get a chance to visit with Sean about plays he’s running. I talk to George about what’s going on with different players. I’ll have a conversation with Beau [Lowery] on the medical side. [Mike] Westhoff will tell me how he’s teaching kickers how to kick. It’s a lot of those little things. I’m not a big believer in that there’s one ‘ah-ha’ moment where you have it figured out. It’s a lot of those little things that give you perspective. Once you have that perspective, you get experience, and you can make better decisions.”
Penner, 54, serves as the chairman of Walmart and he is a board member of companies including eHarmony and Hyatt Hotels. Penner’s had plenty of success in the business world and he’s now aiming for success in the NFL. After improving from 5-12 in 2022 to 8-9 in 2023, Denver will attempt to show more improvement in 2024. The fans — as Penner noted — deserve and expect better on-field results going forward.
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