Rice, 67, is the director of the Hoover Institution at Stanford University. She beforehand had been talked about as an NFL commissioner candidate and as soon as was linked to the Cleveland Browns’ head teaching job, hypothesis that she and the crew shortly dismissed. She was additionally an inaugural member of the College Football Playoff choice committee.
“Her unique experience and extraordinary judgment will be a great benefit to our group and the Broncos organization,” Walton stated.
The quantity of her funding within the franchise was not disclosed.
“It is an honor to be part of this ownership group,” Rice said in a statement released through the Hoover Institution. “Football has been an integral part of my life since the moment it was introduced to me, and I am thrilled to be a part of the Broncos organization today. I spent much of my younger years in Denver, so to be able to combine my love of the game with my love for this great city and team is an adventure of a lifetime and a great opportunity.”
Rice grew to become the primary Black lady to function secretary of state when she succeeded Colin Powell in January 2005. She served till January 2009.
Walton’s group agreed in June to purchase the Broncos from the Pat Bowlen Trust for $4.65 billion, in keeping with an individual accustomed to the sale settlement. The deal stays topic to remaining approval by fellow NFL crew house owners.
Walton introduced when the deal was struck that Mellody Hobson, the co-CEO of Ariel Investments, had agreed to hitch his ownership group. Hobson, who’s Black, is also the chair of the board of the Starbucks Corporation and a director of JPMorgan Chase.
NFL house owners approved a resolution in March endorsing variety in franchise ownership.