The Denver Broncos and Colorado Rockies are joining ownership forces in an intriguing move.
There is now a rare crossover between football and baseball, as two major Denver pro sports franchises are joining to share ownership. Denver Broncos owners Greg Penner and Carrie Walton Penner are acquiring minority ownership of the Colorado Rockies through an investment from the Penner Sports Group. The deal will see the Penner Group purchase approximately a 40 percent share of the Rockies, which would make them the largest minority partner for the franchise, valued at $1.68 billion.
The deal approved by the MLB will help Colorado get out of debt and enhance the fan experience at Coors Field. Rockies chairman and CEO Dick Monfort and his family will retain control and his role alongside owner/general partner Charlie Monfort with Walker Monfort as team president. The Walton-Penner Family Ownership Group bought the Broncos franchise for a record $4.65 billion at the time from the Pat Bowlen Trust in 2022.
Not only will it get Colorado out of debt, but it will also provide some direly needed capital for a Rockies team that needs a turnaround. The team is 6-7 on the year after an offseason of overhaul following three straight seasons with 100-plus losses. The new front office ran by president of baseball operations Paul DePodesta and general manager Josh Byrnes is looking to position the franchise for long-term success. It’ll be curious to see how the infusion of influence from the Broncos will shape that vision.
Here is the full story from Broncos Roundtable writer Bob McCullough on the intriguing investment.
The Penners released a statement emphasizing that their focus remains primarily on the Broncos, but that they look forward to supporting the Colorado franchise long-term. The Rockies certainly could stand to learn a thing or two from much more functional franchise.