Tag: Owner

An interested buyer has emerged if, or when, Gayle Benson sells the Saints

An interested buyer has emerged if, or when, Gayle Benson sells the New Orleans Saints. Houston Rockets owner Tilman Fertitta wants to expand his portfolio:

This is certainly worth filing away for later. An interested buyer has emerged if, or when, Gayle Benson sells the New Orleans Saints. The NBA’s Houston Rockets owner Tilman Fertitta wants to expand his portfolio.

“I’ve always loved the New Orleans Saints, but (Benson) won’t sell them right now,” Fertitta told the Houston Business Journal’s Chandler France. He clarified that there hadn’t been an exchange of formal offers or anything official, but he’s made his interest known.

And, he added, the Saints are not currently for sale. Benson’s will instructs team president Dennis Lauscha to take on the role as executor of the estate and overesee the sale of the team. If he’s unable to do so, it would fall on general manager Mickey Loomis and longtime executive Greg Bensel to see it through. She also stipulates that the team’s next owner must keep the team in New Orleans.

Benson, 77, has no heirs and has shown every indication that she intends to run the team for the rest of her life, which is why this succession plan has been made public. But it’s always possible she could change her mind and agree to sell it sooner. If that’s the case, we could see the Saints go for as much as $6 billion — that was the winning bid for the Washington Commanders, a contest in which Fertitta’s reported $4.4 billion offer fell short.

It wouldn’t be ideal for an out-of-state owner to be running the Saints, but so long as the team remains in New Orleans, we’ll take it. At least Fertitta has experience owning a pro sports team before with the Rockets. Just don’t expect him to be the only suitor when the Saints do eventually go up for sale. The NFL is a lucrative business and with team values continuing to skyrocket, some big names could be in the mix when that day comes.

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Broncos replace grass field ahead of Falcons game

The Denver Broncos used a local sod farm to replace the grass on the field at Empower Field at Mile High.

Prior to a matchup with the Atlanta Falcons in Week 11, the Denver Broncos gave the grass at Empower Field at Mile High a makeover.

The team’s stadium crew got the field replaced within 36 hours after playing the Carolina Panthers on Oct. 27, giving it three weeks to settle in before the Falcons game on Nov. 17.

The grass comes from Platteville, Colorado, which is approximately 45 minutes north of Boulder, via ESPN’s Adam Schefter.

Chris Hathaway, the Broncos director of turf and ground at Empower Field at Mile High, wrote on Twitter/X that the main reason for the replacement is player safety.

The Walton-Penner ownership group famously trucked in a grass field before the 2022 season finale and replaced it again mid-season in 2023.

“[They] just told me,” Broncos coach Sean Payton said after practice Wednesday when asked about the grass being replaced. “You would have to ask Greg [Penner]. Meaning, our field has been in good shape. I don’t know what’s taken place since the last one. The one thing I do know is if Greg feels like it’s not to his liking, then he’s not afraid to do it. I literally just found out and [it’s] outstanding.”

The Broncos are one of 15 teams at 30 stadiums across the NFL to use a natural grass playing surface. After hosting Atlanta on Sunday, Denver will have three more home games remaining on their 2024 schedule.

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Broncos ownership has donated the most to politics (by far) among NFL owners

Broncos ownership has donated more than $17.8 million to political candidates and causes this election cycle, by far most among NFL owners.

The Denver Broncos have the richest ownership group in the NFL by far — and perhaps the most generous.

Broncos co-owner Rob Walton, a Walmart heir, donated more than $16.5 million to political candidates and causes from Jan. 1 last year to Oct. 1 this year, according to Tom Schad of USA TODAY Sports.

The next-highest donations amount this election cycle among NFL owners was $3,328,000 donated by Atlanta Falcons owner Authur Blank.

Greg Penner, Denver’s controlling owner and CEO, donated $171,500, eighth-most among NFL owners. His wife, Broncos co-owner Carrie Walton Penner, donated $1,064,900, fifth-most among league owners.

Rob Walton and Greg Penner donated primarily to Republican causes. Carrie Walton Penner donated $1 million to a Democratic political action committee.

Here’s a look at the ten biggest political donors among NFL owners this election cycle, courtesy of USA TODAY Sports:

Owner Team Donated Main Party
1. Rob Walton Broncos $16,597,200 R
2. Arthur Blank Falcons $3,328,000 D
3. David Tepper Panthers $2,887,500 R
4. Woody Johnson Jets $1,806,300 R
5. Carrie Walton Penner Broncos $1,064,900 D
6. Edward Glazer Buccaneers $735,300 R
7. Jimmy Haslam Browns $696,637 R
8. Greg Penner Broncos $171,500 R
9. Michael Bidwill Cardinals $106,000 R
10. Stephen Ross Dolphins $99,300 R

The 2024 United States elections will be held on Tuesday, Nov. 5.

The Walton-Penner family purchased the Broncos for $4.65 billion in 2022. They later added three minority owners to the ownership group.

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Forbes estimates Broncos are worth $5.5B, 14th-most in the NFL

Forbes estimates the Broncos are worth $5.5 billion, making them the 14th-most valuable franchise in the NFL.

The Denver Broncos are worth an estimated $5.5 billion going into the 2024 NFL season, according to a projection from Forbes. That marks an 8% increase from when the team was valued at $5.1 billion last year.

The Broncos are the 14th most valuable franchise in the NFL with an operating income of $114 million, according to Forbes.

A group led by Rob Walton purchased the franchise for $4.65 billion in 2022 and they instantly became the richest ownership group in the NFL. After Walton transferred part of his ownership stake to his grandchildren last year, Greg Penner (Walton’s son-in-law) became Denver’s new controlling owner with a majority share.

Elsewhere in the AFC West, the Las Vegas Raiders ($6.7 billion) are ranked seventh in the NFL. The Los Angeles Chargers ($5.1 billion) are 20th and the Kansas City Chiefs ($4.85 billion) are 24th.

The Dallas Cowboys ($10.1 billion) are the most valuable team in the league and the Cincinnati Bengals ($4.1 billion) are the least valuable. You can view the full list of all 32 teams on Forbes.com.

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Greg Penner has high expectations for Sean Payton’s Broncos

“It’s a young team, but I’ve got high expectations for what we can accomplish,” Broncos owner/CEO Greg Penner said.

Last year, the Denver Broncos’ ownership group had their first opportunity to hire an NFL head coach, and they swung big.

Broncos owner/CEO Greg Penner struck a deal with Sean Payton and he gave GM George Paton permission to trade draft assets to acquire the coach. Then he made Payton the highest-paid coach in American sports.

Penner is all-in on Payton, and he believes the coach can turn the franchise around after eight seasons of missing the playoffs.

“I do think he’s energized,” Penner said last week. “Any time going into Year 2 is going to be a little bit easier than the first year where you’ve come into an organization, you understand the organization, the history, the fans.

“He, George and myself, have developed a real sense of partnership and respect and communication. He’s had a chance to reshape the roster in a way that he’s really excited about. It’s great to see his approach.”

Denver went 8-9 in Payton’s first season. It was a step forward — that was the Broncos’ best record in seven years — but it wasn’t enough to reach the playoffs. Now entering Year 2 with Payton in charge, Penner has high expectations for his team.

“I’m encouraged by what I saw in training camp,” the owner said. “You go back to when I spoke after the season. I said this was going to be a critical offseason. It’s obviously too early to declare success, but I’ve been really impressed with what Sean and George have done this offseason with the veteran players we brought in through free agency or trades or approached the draft, what we did there.

“From the first day of OTAs, just the enthusiasm, the competitiveness. I mean, I’m sure you guys could hear it on the field. It was different and that carried through to training camp. That passion and intensity, we saw it in the preseason games. It’s a young team, but I’ve got high expectations for what we can accomplish.”

Payton, 60, is under contract with the Broncos through the 2027 season. We’ll see if he can get Denver back to the postseason before that deal expires.

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Broncos owner Greg Penner helped oversee NFL’s approval of private equity firms

Approved private equity firms can now buy up to 10% of NFL teams after Greg Penner helped push through the league’s ownership rule change.

The NFL has approved select private equity firms to buy up to 10% stakes in teams, Denver Broncos owner Greg Penner confirmed Tuesday.

A collection of at least seven firms plans to invest $12 billion in NFL teams. All but one NFL ownership group — the Cincinnati Bengals — voted in favor of allowing private equity firms to buy into teams.

“The support today in the room was very strong for this decision,” Penner said. “One thing that was really important was … giving owners a different option for capital sources but at the same time maintaining how we operate.”

Penner was part of a five-owner committee that spearheaded the approval, joining Clark Hunt, Robert Kraft, Jimmy Haslam and Arthur Blank.

The Broncos, of course, won’t be taking advantage of the new policy allowing private equity stakes. The Walton-Penner family purchased Denver’s NFL franchise for $4.65 billion in 2022 and they are the richest ownership group in the league. No private equity needed for the Broncos.

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Damani Leech on Broncos ownership: ‘They want to win now’

“They want to win [and] they want to win now,” Broncos president Damani Leech said of the team’s ownership group.

Since taking over in 2022, the Denver Broncos’ new ownership group led by Greg Penner has poured resources into improving the team on and off the field. They paid to bring in Sean Payton, they’ve paid big contracts in free agency and they’ve made improvements to the stadium, practice facility and everyday fan experiences.

Penner and Co. have given Payton everything he needs to be successful because Denver’s ownership group is eager to win.

“I think [there are] two things to me that are really apparent about our ownership group,” Broncos president Damani Leech said earlier this month when unveiling renovations to the stadium. “I think first and foremost, there’s a commitment to winning. They want to be successful on the field. I think you’re seeing that in the investments both from a staff standpoint as well as from a player standpoint. They want to win, they want to win now as Greg has used the [phrase], he’s very impatient. They want to win.

“I think the second is the commitment to the fans. Right away, as we saw last year, ‘What can we do to make the fan experience better here on gamedays?’ It really pushed us to be really thoughtful about it. Not just what we’re doing, but why are we doing it, and we expect to continue to see that here every year.”

Last year, Payton wasn’t able to deliver a winning season as the Broncos went 8-9, but that was the team’s best mark since 2016. Payton’s squad will aim to take another step forward in 2024. There will be some growing pains with a rookie quarterback, but expectations are high in Denver. That starts with ownership. We’ll see if it translates to results on the field.

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Peyton Manning isn’t interested in running Broncos, but he helps where he can

Peyton Manning doesn’t want to run the Broncos, but he often visits the team. “I still have my key fob that still works from when I played.”

Two years ago, ESPN reported that the Denver Broncos’ new ownership group wanted to get Peyton Manning involved.

The Walton-Penner family eventually added three minority owners, but Manning was not among them. It seems that the former quarterback was not interested in an ownership stake.

“I don’t think that’s anywhere on my radar by any means,” Manning told media members before receiving the Mizel Institute’s 2024 Enrichment Award on May 22. “But look, I love being an ambassador for the Broncos and for the Colts, for the University of Tennessee. Obviously, living here, I get to go to all the Broncos games. I was out at the facility the other day.”

Broncos general manager George Paton and coach Sean Payton have indicated that Manning has been a “great resource” for the club, and the former QB seems content to continue aiding the team without an official title.

“Our kids do sports in the area around Dove Valley, so I’m probably at the facility a couple times a week,” Manning said. “[They have] great snacks over there in that kind of cafeteria, so I don’t know if I’m being charged for those or what, but [I have] great access. And I still have my key fob that still works from when I played, so Keith Bishop never made that go away, so that’s helpful as well. … But as far as running the team, I don’t think that’s on my radar in any way.”

Manning does not appear interested in becoming a co-owner or executive anytime soon, but he said he takes his ambassador role very seriously. The former QB does not need an official title to help the club whenever he can. The Broncos are fortunate to have him as an ambassador and resource.

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Commanders owner Josh Harris thought Jeff Bezos would outbid him for the team

Josh Harris thought Jeff Bezos would win the bidding for the Commanders.

When former Washington Commanders owner Dan Snyder finally put the team up for sale in November 2022, many believed Amazon founder Jeff Bezos would be the logical buyer. The NFL had gone into business with Amazon, and there were rumors that others wanted Bezos in the NFL’s inner circle. Additionally, Bezos owned a home in D.C. and The Washington Post.

You can count Josh Harris, the eventual winner of the Commanders’ bidding process, among those who believed Bezos would own the team.

“When the Commanders were potentially for sale, it started at 26North, and I had moved on, and my friend Mark Ein, who is sitting in the audience there, said, ‘Come on, Josh, let’s look at the Commanders,'” Harris said at CNBC Ceo Council Summit.

“And I said, come on, I am not going to price the Commanders for Jeff Bezos. I’ve done this before, and we’re going to spend a lot of time and get outbid. And that started a whole process of first Mark nagging me, introducing me to Mitch Rales. We created this incredible group and ultimately went through a super-complicated process which I can go into, but basically, it’s one of the harder deals I’ve ever had to accomplish.”

Harris was referring to the process of needing a large group to buy the Commanders, which has led the NFL to rethink how team sales could go in the future.

Harris was a finalist to purchase the Denver Broncos in 2022 and was willing to pay $5 billion. However, he received no assurances and moved on before the Walton-Penner family bought the team. Harris later called that a blessing in disguise, as Washington was the team he grew up rooting for as a native of the area.

Here’s the full video of Harris’ appearance, courtesy of our friends at Hogs Haven.

Now entering Year 3, Greg Penner a proponent of ‘constant learning’ with Broncos

“I’m a big proponent of constant learning,” Broncos owner/CEO Greg Penner said.

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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