Broncos owner disappointed by $4.65 billion purchase

Denver Broncos CEO Greg Penner. Ron Chenoy-USA TODAY Sports

Broncos owner Greg Penner disappointed by $4.65 billion purchase

By Clark Dalton | Last updated Oct 28, 2022 4:12 PM ET

Perhaps Broncos owner Greg Penner wants a refund.

At a fan event in London, the owner called the team's underwhelming 2-5 start "disappointing," per ESPN's Jeff Legwold.

Broncos owner Greg Penner at fan event in London Friday: “It’s not the start we were looking for, it’s been disappointing so far. We had really expectations coming in, we still have high expectations, our fans have high expectations of us and we’re not where we need to be.''
— Jeff Legwold (@Jeff_Legwold) October 28, 2022

Penner, the chairman of Walmart and member of the Walton-Penner family, purchased the Broncos for $4.65 billion in August. According to NBC Sports, the purchase was the most expensive in the history of North American sports.

The Broncos have failed to live up to their price tag. They're last in scoring offense, averaging 14.3 points per game, and were mocked for three horrible losses in prime time.

If they lose a fifth consecutive game against Jacksonville, changes may come. According to ESPN NFL insiders Dan Graziano and Jeremy Fowler, they're considering firing rookie head coach Nathaniel Hackett and trading several players including, former Pro Bowl defensive end, Bradley Chubb.

Penner tried to quiet the speculation, claiming he supports Hackett.

"I support Nathaniel and really want to see him succeed," Penner said.

Broncos owner Greg Penner on Nathaniel Hackett and the coaching staff: “I support Nathaniel and really want to see him succeed. He’s a first time head coach, there’s a lot of new things to get in place ... But he knows we’re not performing at the level we expect to.''
— Jeff Legwold (@Jeff_Legwold) October 28, 2022

Even though Penner wants Hackett to succeed, he's not pleased with the team's performance.

"We still have high expectations, our fans have high expectations of us, and we're not where we need to be," Penner said.

On the Rich Eisen Show on Tuesday, NBC Sports' Mike Florio called the ownership group "ruthless."

If the Broncos lose Sunday, bet on big changes.

Clark Dalton

Dalton is a 2022 journalism graduate of the University of Texas at Austin. He gained experience in sports media over the past seven years — from live broadcasting and creating short films to podcasting and producing. In college, he wrote for The Daily Texan. He loves sports and enjoys hiking, kayaking and camping.

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