The announcement makes Rice the second Black woman to join the group. Mellody Hobson became the first, joining a small group of Black women who have an equity stake in a National Football League (NFL) team — as previously shared by AfroTech.

“Today marks a significant step on the path of an exciting new chapter in Broncos history,” said the team’s CEO, Joe Ellis, in an official statement of the news, at the time.

The percentage of what Hobson would own is still pending but is expected to be very fruitful. The sale agreement stood at $4.65 billion, breaking a record as one of the highest prices paid for a North American sports franchise.

The 53-year-old is known as one of the most powerful executives in the nation as the co-lead of Ariel Investments, the chair of the Starbucks Corporation Board of Directors, and board member at financial services giant JP Morgan Chase.

Broncos

Sign up for our daily Newsletter.