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3h ago

Penner Sports Group Takes Largest Minority Stake in Colorado Rockies

Fresh funding arrives for a franchise seeking stability following a 43-119 season.

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Oct 6, 2024; Denver, Colorado, USA; Denver Broncos CEO Greg Penner before the game against the Las Vegas Raiders at Empower Field at Mile High. Mandatory Credit: Ron Chenoy-Imagn Images

Overview

  • The Rockies said Friday that MLB approved the Penners' investment, which makes Penner Sports Group the club's largest minority owner.
  • CBS Colorado put the stake at nearly 40%, a figure the team has not specified.
  • The Monfort family remains in control, with Dick Monfort as chairman and CEO, Charlie Monfort as owner and general partner, and Walker Monfort as club president running daily operations.
  • Team officials said the funding will retire all club debt and support more investment in the team and a family-friendly experience at Coors Field.
  • Greg and Carrie Penner said their main focus stays on the Broncos and that they will be supportive, long-term partners to the Rockies and Major League Baseball.