Greg and Carrie Walton Penner, who lead the Denver Broncos ownership group, are now the largest minority owners of the Colorado Rockies, giving the team a needed financial boost and raising hopes among fans that the Rockies will invest more in future success.
Rockies chairman and CEO Dick Monfort and owner/general partner Charlie Monfort announced the move on Friday.
The addition of the Penner Sports Group, which owns a controlling interest in the Denver Broncos, will have a major impact on Colorado’s Major League Baseball franchise. Sources told The Denver Post that the Penners are purchasing a 40% share of the Rockies.
Greg Penner will remain CEO of the Broncos, and fellow primary owner Carrie Penner, his wife, will continue in her various roles with the team. The Penners will have no day-to-day involvement running the Rockies, a source said.
“We are excited to expand our commitment to the Denver sports community through a minority partnership with the Colorado Rockies,” the Penners said in a prepared statement. “This 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.”
Owner Greg Penner of the Denver Broncos speaks at the Hanbury Manor in Ware, England on Friday, Oct. 10, 2025. (Photo by AAron Ontiveroz/The Denver Post)
According to Forbes, the Rockies are valued at $1.68 billion, ranking 25th among Major League Baseball’s 30 teams. The Penners’ investment equals about $672 million, and MLB has formally approved the deal.
According to the Rockies, the Penners’ investment allows the franchise to retire all outstanding debt and provides additional capital for the team.
The financial changes could help the Rockies become a bigger player in baseball’s current, uneven financial landscape, in which big-market teams like the Los Angeles Dodgers, New York Mets, and New York Yankees greatly outspend mid-market teams like the Rockies.
The Mets currently have a 40-man roster payroll of $357.2 million, the largest in MLB, according to Cots Baseball Contracts. The Dodgers ($322.6 million) and Yankees ($298.3 million), rank second and third. The Rockies ($120.5 million) are ranked 21st.
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A source familiar with the deal told The Post that the Penners’ 40% stake comes from a combination of existing partners and new equity. The Denver Post, a longtime minority owner with the Rockies, was the only shareholder to sell its entire stake.
Dick Monfort will continue in his role as chairman and CEO, Charlie Monfort will remain in his role, and Walker Monfort (Dick’s son) will remain as the club’s president, running day-to-day operations.
“Speaking personally, on behalf of Charlie and our family, our other partners and the organization, we’re excited to welcome Greg and Carrie Penner into the Colorado Rockies ownership group,” Dick Monfort said in a statement. “I’ve had the pleasure to build a strong relationship with Greg and Carrie over the past few years. For 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.
“Greg and Carrie have proven that they share the same passion for our region and a strong commitment to compete at the highest level. We are thrilled to add them to the Colorado Rockies’ ownership group as we best position this franchise for long-term sustained success.”
Negotiations between the Monforts and Penner have been ongoing for months, sources told The Post.
For long-suffering fans, relief
Rockies fans were excited by the news.
Phillip B. Foster II, whose family has held Rockies season tickets since the club’s inception in 1993 and still attends about 30 Rockies games a season, said it was past time for changes.
“I think the best way to say it is that I feel a sigh of relief,” said the 45-year-old Foster, a Denver resident who was a former bat boy for the minor league Denver Zephyrs. “I think this gives me, and other fans, a reason to want to keep going to games at Coors Field.”
Loveland’s Rece Lampe, 27, attended the Rockies’ home opener this year and usually attends between seven and 10 games a season. He said it was time for a change.
“My initial response as a fan is very positive,” he said. “This team needs some new direction and new blood, because of their lack of success over the past years.
“Getting a 40% stake from an ownership group that clearly wants to win, like the Broncos do, shows me that the Rockies are trying to change the vibe.”
A major investment in Mile High baseball
The Rockies have endured seven consecutive losing seasons and have lost 100 or more games in each of the last three seasons. Last year, the club lost 119 games, tied with the 2003 Detroit Tigers for the third-most in a single season since 1901, ahead of the 2024 Chicago White Sox (41-121) and the 1962 New York Mets (40-120).
On Wednesday, the Rockies beat Houston for their fourth consecutive victory. However, the announced crowd at Coors Field was 15,189, marking the lowest home attendance in franchise history, excluding pandemic-affected seasons. The previous low crowd came on Monday night, with an announced crowd of 16,301.
The Walton-Penner Family Ownership Group, led by Greg Penner, Carrie Walton Penner, and Rob Walton, purchased the Broncos for $4.65 billion in August 2022. The Broncos are in the early in the process, but knee deep on the way to building a new stadium and entertainment complex at Burnham Yard.
“Our family’s had such a positive experience with the Broncos, reinforcing our interest in partnering with another team in this dynamic sports market,” the Penners said. “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.
Colorado Rockies vice president of corporate sponsorships Walker Monfort, front, joins his father, the team’s owner and chief executive officer, Dick, before a baseball game Saturday, Aug. 17, 2024, in Denver. (AP Photo/David Zalubowski)
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball.”
Dick and Charlie Monfort became the Rockies’ majority owners in 2005. Forbes first valued the Rockies in 1998, just five years after their inception, at $303 million. Since then, the club has appreciated by more than 450%.
Denver Post Broncos beat writer Parker Gabriel contributed to this story.