The Colorado Rockies got a major financial boost Friday with the addition of Greg Penner and Carrie Walton Penner, who lead the Denver Broncos\u2019 ownership group, as minority owners.<\/p>\n
Penner Sports Group will be the largest minority partner in the Rockies organization, CEO Dick Montfort said in a statement. The group will own roughly 40 percent of the team, major-league sources confirmed to The Athletic.<\/p>\n
The Rockies said the deal will eliminate their outstanding debt and allow them to provide additional investments in the team in both the short and long term.<\/p>\n
The news comes after an eventful offseason for the Rockies, who hired a new president of baseball operations, Paul DePodesta, and added more than a dozen staffers to a baseball operations staff that was previously one of the smallest in MLB.<\/p>\n
\u201cSpeaking personally, on behalf of Charlie and our family, our other partners and the organization, we\u2019re excited to welcome Greg and Carrie Penner into the Colorado Rockies ownership group,\u201d Monfort said. \u201cI\u2019ve had the pleasure to build a strong relationship with Greg and Carrie over the past few years.<\/p>\n
\u201cFor many reasons, including their recent success with the Broncos, we know we are gaining much more than just financial support in this partnership with Penner Sports Group.\u201d<\/p>\n
The Penner group bought the Broncos in 2022 for a then-record price of $4.65 billion. The Broncos made their first playoff appearance in nine years during the 2024 season and reached the AFC Championship Game last season.<\/p>\n
Penner Sports Group will open a new $175 million training facility for the Broncos later this year and has announced a preferred site for a new stadium in Denver, with a targeted opening date of 2031.<\/p>\n
The Rockies are coming off their third consecutive 100-loss season and have had just eight winning seasons in their 33-year history. Still, the team averaged roughly 30,000 fans per home game last year.<\/p>\n
\u201cWe are excited to expand our commitment to the Denver sports community through a minority partnership with the Colorado Rockies,\u201d Greg and Carrie Penner said in a statement. \u201cThis investment from Penner Sports Group reflects our deep appreciation for what the Rockies mean to this region, the passion of their fans and our confidence in the future of the franchise.<\/p>\n
\u201cOur family\u2019s had such a positive experience with the Broncos, reinforcing our interest in partnering with another team in this dynamic sports market.\u201d<\/p>\n
Penner Sports Group\u2019s new involvement with the Rockies will have no impact on its control of the Broncos.<\/p>\n
Dick Monfort will remain the Rockies\u2019 chairman and CEO, and Charlie Monfort will remain the team\u2019s owner and general partner. The team promoted Walker Montfort, Dick\u2019s eldest son, to executive vice president last year.<\/p>\n
Walker has helped lead the charge in the organization, bringing in outside voices and modernizing its operation. Speaking to The Athletic earlier this month, Walker said, \u201cThere\u2019s a sense of urgency every day to get continuously better. We want to be best in class, we want to be a perennial playoff contender. That\u2019s why we do this. \u2026<\/p>\n
\u201cI think there\u2019s an understanding that things don\u2019t happen just overnight, right? It does take time at times. We can\u2019t go out and have a $350 million payroll. Our business, it doesn\u2019t work. And so, with what we have to work with, I think it\u2019s about just getting the best return on how we invest. And whether that\u2019s through players or technology or people, personnel, that\u2019s what Paul and our team are tasked with, is let\u2019s get us on the right track.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Colorado Rockies got a major financial boost Friday with the addition of Greg Penner and Carrie Walton…\n","protected":false},"author":2,"featured_media":672627,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[5,52,10364,4,1082,165],"class_list":{"0":"post-672626","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mlb","8":"tag-baseball","9":"tag-colorado-rockies","10":"tag-denver-broncos","11":"tag-mlb","12":"tag-nfl","13":"tag-sports-business"},"share_on_mastodon":{"url":"https:\/\/channels.im\/@mlb\/116381673357125575","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/672626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/comments?post=672626"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/672626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media\/672627"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media?parent=672626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/categories?post=672626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/tags?post=672626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}