✍🏾: @tiff.chey
#MellodyHobson is on her way to join a small group of Black women with an equity stake in an NFL team as she has managed to put her bid in to purchase the Denver Broncos.
Hobson is viewed to be a very influential executive. At the same time, she holds various ownerships and leadership roles, from co-leading Ariel Investments to sitting on the Starbucks Corp.’s board of directors as the chair and the board of financial services giant JP Morgan Chase.
The percentage that Hobson would own has not been disclosed, but it looks to be a beneficial investment since, according to reports, the Walton group has agreed to a sale agreement of $4.65 billion, becoming one of the highest prices for a North American sports franchise.
It could take anywhere between 60 and 90 days for the sale to reach its final stages of approval to seal the deal. The agreement is under review by the NFL’s finance committee, requires approval by a total vote of NFL owners, and takes 24 “yes” votes for final approval.
As a black woman making it to these last steps of securing ownership isn’t easy, but Hobson is getting it done. Congratulations! #BWLM💕
