The Denver Broncos Were Saved By The Walton-Penner Group

The Denver Broncos haven’t had a really competitive season since Peyton Manning retired back in 2015. They were never bad enough to be in range to select a top quarterback in the NFL Draft, or even good enough to make a real playoff push. They were stuck in purgatory, and General Manager John Elway was running the team into the ground.

Broncos Hire George Paton

In 2021, the Broncos hired former Minnesota Vikings executive George Paton to a multi-year deal. Paton was entering a situation where the team really had no direction. Denver had the 9th overall pick in the NFL Draft, with a QB in striking range. They had some pieces on offense, including Jerry Jeudy and Courtland Sutton.

In free agency, Paton continued to add to the defense, bringing in former Bears CB Kyle Fuller and CB Ronald Darby on a three-year deal. He also extended Justin Simmons, making him the highest-paid safety in the league, along with DT Shelby Harris, to a three-year $27 million deal.

In the NFL Draft, Paton elected to stay away from a quarterback, selecting Alabama CB Patrick Surtain II with the 9th overall pick. Instead of selecting someone like Justin Fields, he opted to trade for QB Teddy Bridgewater. He continued to add on offense, taking UNC RB Javonte Williams in the second round, and Wisconsin-Whitewater Guard Quinn Meinerz. Looking back, it was a good draft for Paton, as he selected two cornerstone players for the Denver Broncos.

Big Changes Came

After another losing season in 2021, it was time for some big changes. Denver revamped their coaching staff, firing Head Coach Vic Fangio and his coordinators, putting an emphasis on finding an offense-minded leader. After a long search, the Broncos hired former Packers Offensive Coordinator Nathaniel Hackett. Denver hadn’t had an offense-minded coach in years, so it gave the fan base hope that the offense would finally be the focal point of the team.

Shortly after hiring Hackett, Paton went all in, making a blockbuster trade with the Seattle Seahawks. The Broncos struck a deal for former Super Bowl champion Russell Wilson. Now, the Broncos’ offense looked complete. They had a solid WR core, a standout rookie running back, and now a veteran quarterback who could come in and lead a young offense.

Having the pieces on offense, Paton continued to load up on defense. He brought in Randy Gregory and DJ Jones to bolster the defensive line in free agency, which had been a weak point. In the NFL Draft, Paton selected Oklahoma OLB Nik Bonitto with the 64th overall pick and took six defensive players with their nine picks. The Broncos were generating a ton of buzz within the media, as they looked to clinch a playoff berth for the first time since 2015.

The Broncos Are Officially Sold

Pat Bowlen, along with his siblings, bought the team in 1984 for $78 million. Bowlen would go to purchase the shares that were held by his two brothers and sisters. Bowlen stepped away from the team in 2014 due to Alzheimer’s. His trust in the organization was placed in a trust to Joe Ellis and others. It was a long eight-year battle between family members and multiple lawsuits, and the team was finally put up for sale on February 1st.

The Denver Broncos were put up for sale in February 2022 and were officially sold in August. A group led by Rob Walton and Greg Penner purchased the team for $4.65 billion, setting a record price paid for a sports franchise in North America. The Panthers previously set a record for a $2.3 billion sale when David Tepper bought the team back in 2018.

Ownership’s Immediate Impact

The first big move made by Denver’s new ownership was giving Wilson a five-year contract worth $245 million, including $165 million guaranteed. The Broncos’ new ownership wanted continuity, and extending Wilson kept him on the roster for the foreseeable future. What looked like a strong team heading into the 2022 season turned out to be a disaster.

 The Broncos went 5-12 and fired their first-year head coach after a blowout loss to the Los Angeles Rams on Christmas. Jerry Rosburg took over as the interim head coach, and Denver needed to check a lot of boxes off in the offseason. They immediately began searching for a head coach, but set their sights on longtime New Orleans Saints Head Coach Sean Payton.

 Payton spoke about wanting to be a part of a team with good ownership and spoke highly of the Walton-Penner Group. Payton did his best to work with and build around Wilson, but it ultimately didn’t work. The Broncos made the tough decision to bite the bullet and release Wilson. By doing this, they’d take on $85 million in dead money, trusting Payton to find their next franchise QB.

 It proved to be the right decision, and the huge gamble paid off. Denver took Oregon QB Bo Nix with the 12th overall pick, and it would change the franchise. Nix had a tremendous rookie season, leading the Broncos to their first playoff appearance since 2015. The Walton-Penner group put all of their trust in Sean Payton, and it paid off.

Greg Penner’s Daily Involvement

Penner is one of the most involved owners in the sport. He is at every game, whether it’s home or away, and always shows his support to his players after games in the locker room. The players have only positive things to say about him, and compared to other owners in the NFL, Penner is among the best.

 The Walton-Penner group has also allocated a tremendous amount of resources to the team, giving Paton room to work with. Paton has extended all of Denver’s rising and long-term stars. Denver extended Zach Allen, Sutton, and Bonitto, all in one offseason. They also spent over $100 million in free agency to build on an already elite defense and put more weapons around their young quarterback.