The Monforts selling a 40% stake in the Rockies to Penner Sports Group was “a level-headed compromise that not only kept the Rockies in the family but gave the team something that felt like a tangible reason for genuine hope for a brighter future,” according to Mark Kiszla of the Colorado Springs GAZETTE. There is an “unresolved family dispute” between the two brothers who owned the Rockies. For the past two years, owner and General Partner Charlie Monfort has “persistently explored selling his shares in a downtrodden Rockies ballclub he had helped bring to Colorado in the early 1990s.” But team Chair & CEO Dick Monfort, his elder brother, “stubbornly refused to let go of a team he loved and wanted to pass down to his sons.” During the previous two calendar years, “at least two well-heeled suitors” had explored the possibility of acquiring shares from either Charlie or Dick Monfort. Representatives from Crown International Holdings “walked away after talking with both brothers in the latter half of 2024, frustrated with the slow progress in negotiations.” The brothers “seemed frequently at odds about what they wanted next from the team.” While Dick Monfort has run the day-to-day operations of the Rockies for over a decade, his younger brother “began to take a more active role during the past 12 months” and “was an unseen hand nudging the team in the direction of bringing in new investors.” Pledging to “leave Dick Monfort in charge and promising to take a hands-off approach in the day-to-day operations” of the club, new team co-owners Greg and Carrie Penner “convinced the Monforts to close a deal that gives the Broncos co-owners a minority stake” (Colorado Springs GAZETTE, 4/11).

SOLE BUYOUT: Denver-based KUSA-NBC’s Mike Klis cited sources as saying that the Denver Post is the only previous minority Rockies investor “bought out in full by the Penners.” The Denver Post, an original minority owner by way of Scripps Howard/Rocky Mountain News in 1991, “held between 7-8% minority stake” in the Rockies. The Penners also “bought portions from each of the Rockies partners,” and the “third component of their investment was an equity infusion for debt relief.” They will have “no day-to-day roles or responsibilities with the club.” Klis wrote while the Penners’ roles with the Broncos and the Monforts’ roles with the Rockies will not change, this partnership “is significant for two prominent franchises locally and in their respective leagues.” The investment amount — while “not disclosed publicly — figures to be several hundred million dollars” based on the club’s $1.68B valuation. That much-needed cash influx will allow the Rockies to “retire all outstanding debt while investing capital into both the on-field product and the fan experience.” Dick Monfort “remains an influential owner in league circles” and is “expected to be heavily involved” in labor negotiations between the MLB and the MLBPA as a potential lockout looms (9NEWS.com, 4/10).

DON’T COUNT IT OUT: In Denver, Patrick Saunders noted a deal for Greg and Carrie Penner to eventually become the controlling owners of the Rockies is “not imminent,” and he cited a source as saying there is “no timetable for that to occur.” But the source added it “could very well happen down the line.” Last month, it was disclosed that Broncos co-owner Rob Walton, part of the Walton-Penner Family Ownership Group that owns the NFL team, also “has a 10% share of the D-backs.” However, the Penners “do not have a stake in the D-backs, thus allowing them to buy into the Rockies” (DENVER POST, 4/12).

NEW PATH FORWARD: In Denver, Troy Renck wrote in what “amounts to a home run for baseball fans” in this state and region, the Penners will provide financial resources that give Dick Monfort “runway to determine his future vision for the franchise.” Bringing the Penners on board “creates a pathway for the Rockies to become relevant.” Starting with conversations a year ago, the Penners “were motivated to get involved rather than take over.” This is “not a palace coup,” it is “a partnership.” But it is also “one (heck) of a safety net.” And it gives the Penners “an opportunity to become financially tethered without dealing with the minutiae of running another team.” For Dick Monfort, the move “makes sense.” Renck: “Just look at all the Penners have done, how deep their pockets are, and how much they commit to ventures.” He wrote they “will learn baseball just as they did the NFL.” There is “no reason to think they cannot help make the Rockies better” (DENVER POST, 4/10).

NEW SHERIFF: In Colorado Springs, Woody Paige wrote with two-fifths ownership of the Rockies franchise, the “highest percentage for a minority partner, and despite no actual power over the baseball operation,” the Penners will not “accept the Monforts remaining the worst pro sports team in Colorado history.” Paige: “The Monforts must up their game or get out” (Colorado Springs GAZETTE, 4/12).