The Denver Broncos on Monday announced the addition of former Secretary of State Condoleezza Rice to the team’s new ownership group.
Rice is the second Black woman to join the group, which is primarily made up of members of the Walton and Penner families, who amassed their fortunes largely through their stakes in Walmart. The partnership already included Mellody Hobson, the co-chief executive of Ariel Investments and the board chair of Starbucks Corporation.
The group reached a tentative agreement in June to buy the Broncos for $4.65 billion, more than twice the price of the previous record for an N.