DENVER (AP) — The Colorado Rockies are bringing in Denver Broncos owners Greg Penner and Carrie Walton Penner through a minority investment from the Penner Sports Group.
Rockies chairman & CEO Dick Monfort and owner/general partner Charlie Monfort announced the deal Friday. It's been approved by Major League Baseball.
The Penner group is purchasing approximately a 40% share of the Rockies, a person with knowledge of the situation said. That person spoke to The Associated Press on condition of anonymity because the figure hasn't been released. The group becomes the largest minority partner for the Rockies, a team Forbes has valued at $1.68 billion.
Dick and Charlie Monfort will continue their roles, with Walker Monfort serving as the team's president. The organization said the investment allows the club to “retire all outstanding debt” in addition to providing an enhanced experience at Coors Field.
“Greg and Carrie have proven that they share the same passion for our region and a strong commitment to compete at the highest level," Dick Monfort said in a statement. "We are thrilled to add them to the Colorado Rockies’ ownership group as we best position this franchise for long-term sustained success.”
The Rockies are off to a 6-7 start this season. They made big changes in the offseason after a third straight year with 100 or more losses. The front office is now led by Paul DePodesta, the president of baseball operations, and general manager Josh Byrnes.
The Walton-Penner Family Ownership Group bought the Broncos from the Pat Bowlen Trust in August 2022 for a then-record $4.65 billion. Walmart heir Rob Walton also is an owner, while Formula One driver Lewis Hamilton, Mellody Hobson and former U.S. Secretary of State Condoleezza Rice serve as limited partners.
Denver made it to the AFC championship game last season before losing 10-7 to the New England Patriots.
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball,” the Penners said in a joint statement. “We’ve enjoyed getting to know the Monforts and are grateful to join Dick and Charlie in the Rockies’ ownership group along with the other partners.”
AP MLB: https://apnews.com/hub/mlb
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