The Denver Broncos announced Tuesday that seven-time Formula One world champion Lewis Hamilton has joined its ownership group. The star confirmed the news via his official Instagram account.
Fellow co-owner billionaire Rob Walton said in a statement that Hamilton’s resilient spirit and excellence would be an asset to the consortium and the Broncos. He also highlighted Hamilton as a “fierce advocate for global equality”.
“We're delighted to welcome Seven-Time Formula One World Champion Sir @LewisHamilton to our ownership group. He is a champion competitor who knows what it takes to lead a winning team.”
Statement from Rob Walton on behalf of the Walton-Penner Family Ownership Group: pic.twitter.com/kl2z04lKyk
— Denver Broncos (@Broncos) August 2, 2022
NFL commissioner Roger Goodell previously expressed his desire for a diverse ownership group. In addition to Hamilton, the group is made up of at least two other Black owners: Condoleezza Rice and Mellody Hobson.
When informed of the news, Broncos coach Nathaniel Hackett hailed the announcement, adding that it was an “honor” that Hamilton was on board. Russell Wilson, the Broncos’ star quarterback and a friend of Hamilton’s, also posted a congratulatory tweet on his Twitter account. At the Monaco Grand Prix this year, Wilson and his wife, the singer Ciara, were Hamilton’s guests at the Mercedes race team.
Another consortium
As one of the highest-earning sports stars, Hamilton is involved in several business interests. A vegan, the 37-year-old has invested in the Neat Burger vegan fast food chain. In 2020, Mercedes driver also founded the X44 team, which competes in the Extreme E racing series. The racer, who was knighted in 2021, owns a large property in Colorado, where the Broncos are based.
This is Hamilton’s second consortium. Along with the tennis star Serena Williams earlier this year, he joined another consortium that attempted to buy Chelsea. Led by Martin Broughton, the former British Airways chairman, the consortium’s bid was among the final three to be shortlisted.
The deal fell through, however, when it became known that the bid was dependent on a $611 million loan from three U.S. banks. Ultimately, the winning bid for Chelsea was led by Todd Boehly, part-owner of the NBL’s Los Angeles Dodgers.
Limited shareholder
Hamilton joined the group as a limited shareholder, according to Walton, who’s also a new co-owner himself. Last month, the Walmart heir led the Walton-Penner family ownership group to buy the team from its previous owner, the Patrick D Bowlen Trust. The deal, reportedly worth $4.65 billion, surpassed the $3.16 billion paid to the former owner of Chelsea FC, Roman Abramovich, by an American-led consortium this year.
The final step of the purchase is set for August 9, with the NFL expected to approve the purchase agreement at a league meeting in Minneapolis attended by team owners. It is the final step in a months-long process after last week’s unanimous vote of approval from the league’s finance committee.
If approved, the deal will finally end the team’s arduous eight-year sale journey since its previous owner, Patrick Bowlen, resigned from his position due to Alzheimer’s. The deal will represent a fresh start for the Broncos in the upcoming NFL season, which will begin on September 8. The team last won the Super Bowl six years ago in 2015.
With three Super Bowl victories, the Broncos are among the NFL’s most successful teams in the Super Bowl era. They also now have the richest ownership group in the league.