Former Secretary of State Condoleezza Rice Joins Broncos' New Ownership Group

Former Secretary of State Condoleezza Rice is joining the Denver Broncos' new Walton-Penner ownership group, the organization announced Monday.

In June, an ownership group led by Walmart heir Rob Walton, his daughter Carrie Walton Penner and her husband Greg Penner agreed to purchase the Broncos for $4.65 billion from the Pat Bowlen Trust.

Rice served as the National Security Advisor (2001-05) for George W. Bush during his first term and as the Secretary of State during his second (2005-09), replacing Colin Powell.

Mellody Hobson—a co-CEO of Ariel Investments, chair of the board for the Starbucks Corp. and a JP Morgan Chase director—is a part of the ownership group as well.

"We are thrilled to be selected to move forward with the purchase of the Denver Broncos!" Walton said in a June statement. "Carrie, Greg and I are inspired by the opportunity to steward this great organization in a vibrant community full of opportunity and passionate fans. Having lived and worked in Colorado, we've always admired the Broncos. Our enthusiasm has only grown as we've learned more about the team, staff and Broncos Country over the last few months."

The sale is still pending approval from the NFL's owners.

Rice, 67, has ties to both the Denver area and sports world, having served on the inaugural College Football Playoff Committee.

She is also an NFL fan and the daughter of John Wesley Rice, a former high school football coach.

"He wanted me to be his All-American linebacker," Rice once told CBS Sunday Morning, per Nick Kosmider of The Athletic. "If I had been a son instead of a daughter, I might have done it."

Now, instead, she'll be part-owner of an NFL franchise.