NFL Owners Approve Walton-Bumner Group’s Purchase of Denver Broncos Franchise

NFL Owners Approve Walton-Bumner Group’s Purchase of Denver Broncos Franchise

NFL owners voted Tuesday for the Walton bum group to purchase the Denver Broncos, NFL Network’s James Palmer reported.

The vote, which required at least three-quarters (24) of the league’s 32 owners, was the final step in the Broncos franchise sale process.

NFL Commissioner Roger Goodell announced during a Tuesday news briefing that ownership unanimously voted to sell.

“We are grateful for the support and confidence of the National Football League and the 31 other teams with today’s vote,” Rob Walton said in a statement Tuesday on behalf of the Walton-Bumner ownership group. “We couldn’t be more excited to join the Denver Broncos.

“It is a responsibility and a privilege to serve as the steward of such a legendary franchise. We have great respect for what Pat Bowlen has meant to the Broncos and look forward to building on this organization’s championship legacy.”

Walton continued, “While we are deeply committed to building a great team to win Super Bowls, our family and extraordinary partners are also dedicated to our off-field responsibilities to Broncos Country and the Rocky Mountain region.

“We operate with integrity and accountability and want to draw on our individual strengths and those of the players, coaches and staff who have shaped the Broncos’ rich history. And to that end we would like to thank Joe Ellis for his guidance throughout this process and his willingness to serve as Owners Advisor this season.

“Across the organization, we will all continue to listen and learn.

“Most importantly, we strive to make the Denver Broncos the best team to cheer, play and work for in all sports. Go Broncos!”

The Walton-Penner family entered into a buy and sell deal on June 7 to acquire the team. Palmer reported at the time that the group’s winning bid was $4.65 billion.

After Tuesday’s vote, longtime Broncos president and CEO Joe Ellis announced that he will step down from his leadership position and serve as owner advisor for the 2022 season. Ellis has been part of the Broncos organization for the past 27 seasons.

“I am forever grateful to our dedicated staff, players and coaches for making this franchise what it is today – one of the finest organizations in all of sports,” Ellis said in a statement. “As we look to the future, I am confident that the Walton-Penner Family Ownership Group will enrich the Broncos’ championship heritage on and off the field and put their own stamp on this great organization. I’ve been asked by them to serve as an advisor to owners this season and I’ve accepted their request to help with the transition wherever possible.”

Former Broncos owner Pat Bowlen bought the team in 1984 and the franchise won three Super Bowls during his tenure. Bowlen ceded control of the team to Ellis in July 2014 when Bowlen admitted to having Alzheimer’s. Bowlen passed away in 2019 and the Pat Bowlen Trust has since taken ownership. The Trust announced in February that it had started selling the club.