Mellody Hobson, the co-CEO of Ariel Investments, is set to become a part-owner of the Denver Broncos. As a part of the Walton-Penner group led by Rob Walton, the NFL squad will reportedly sell for $4.65 billion which would be a record price paid for a North American sports franchise, the Denver Post reports.
Just last year, the Broncos were valued by Forbes at $ 3.75 billion.
During the process of selling the team, NFL commissioner Roger Goodell said that he wanted the next ownership group of the Broncos to have minority representation. As a part of the group, Hobson will be one of the few Black women to have an ownership stake in a professional sports team.
Walton praised Hobson for her track record as an executive and the expertise she’ll bring to the Broncos.
"Beyond her role at Ariel, Mellody is an influential leader in corporate and civic organizations across the nation,” Walton said in a press release. "Mellody currently serves as Chair of the Board of Starbucks Corporation and is also a director of JPMorgan Chase. We know she will bring her strategic acumen and leadership perspective to our team.”
Hobson also is the chair of the board of directors of Starbucks, holding the distinction of being the first Black woman to become the chairperson of a company in the Standard & Poor’s 500. Additionally, she is the chair of the board of DreamWorks Animation and a board member of Estée Lauder Companies.
A native of Chicago, Hobson is a graduate of Princeton University. She is married to the legendary filmmaker George Lucas.
