Greg Penner is officially the ‘controlling owner’ of the Broncos

KANSAS CITY, Mo. — Since the Walton-Penner group assumed stewardship of the Broncos in August 2022, Greg Penner has been the member of the ownership group who is the most out in front.

When the Broncos dismissed Nathaniel Hackett last December, Penner answered questions at the press conference. He took questions at the NFL Annual Meeting in Phoenix last March. Rare is the practice at which he isn’t somewhere on the field.

And now, he has the formal title that confers what has been obvious: “Controlling owner.”

Along with that, co-owner Rob Walton transferred some of his shares to the four children of Penner and fellow co-owner Carrie Walton Penner. KUSA-Ch. 9’s Mike Klis first reported the moves Wednesday.

Nothing changes regarding the day-to-day business of the Broncos as a result of these alterations, and this was part of the initial plan.

GREG PENNER AND CARRIE WALTON PENNER ARE CONSTANT PRESENCES

In their 14 months since officially assuming the Broncos’ reins, Greg Penner and Carrie Walton Penner have become mainstays at Centura Health Training Center. Both are often seen watching practice.

To the longtime observer, it evokes memories of the way in which Pat Bowlen, the Broncos’ 35-year owner who landed in the Pro Football Hall of Fame for his contributions, observed his team’s on-field work on a day-to-day basis. It’s a sign of the Penners’ active involvement with their franchise.

The additional layer is in the decision of co-owner Rob Walton to transfer part of his share of the team to the Penners’ four children. Such a move is done with long-term planning in mind, with an eye toward the Broncos being a long-term business for the Walton-Penner branch of the Walton family tree.

Certainly, numerous issues have risen with family-controlled teams regarding how the team passes among generations. The Broncos in the final years of Bowlen ownership — specifically the eight seasons in which the team operated under trust jurisdiction — are one example, with the situation eventually devolving into an intra-family lawsuit regarding control of the team, which eventually helped precipitate the Broncos going on the market. But the Broncos are far from the only team to endure this; struggles transpired with other family-owned teams, including the Tennessee Titans and Los Angeles Chargers, to cite two examples.

As for naming Penner the controlling owner, it provides the sort of clarity that doesn’t exist with some other clubs that have similar structures. For example, with the San Francisco 49ers, Jed York handles the day-to-day management. But his parents, John York and Denise DeBartolo York, are the co-chairpersons of the organization.

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