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One of sports’ richest ownership groups is buying into the moribund Colorado Rockies.
Penner Sports Group, part of the Walton-Penner family ownership group that owns the Denver Broncos, will become the largest minority investor in the Rockies with a 40% stake, a person familiar with the matter confirmed to Front Office Sports.
The deal, approved by MLB and announced Friday, provides a financial boost to the Rockies, which have been mired in last place for years and annually are one of the league’s lower-spending franchises.
Colorado has an estimated valuation of about $1.68 billion, which is 25th out of 30 MLB teams, according to Forbes.
The Monfort family has owned the Rockies since founding the team in 1992, and the three Monforts in leadership roles—CEO Dick Monfort, president Walker Monfort, and managing partner Charlie Monfort—will continue to run the team.
The Walton-Penner group bought the Broncos for a then-record $4.65 billion in 2022. Walmart heir Rob Walton, 81, is among the richest owners in sports with a net worth of $118 billion, according to Forbes. The Rockies investment involves his daughter, Carrie Walton Penner, and her husband, Broncos CEO Greg Penner.
Dick Montfort said in Friday’s statement that the Rockies “are gaining much more than just financial support” through the deal, pointing to the success the Broncos have had since that 2022 transaction—following an eight-year stretch in which they didn’t make the playoffs once, Denver has been in the postseason each of the last two years, losing in the AFC Championship to the Patriots in January.
The Penners said in a statement that the investment “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.”
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball,” they added.
The Monfort family has generated widespread criticism for its stewardship of the team. The Rockies, 6–7 to start this season, haven’t made the playoffs since 2018, and have only been in the postseason five times in 33 seasons. They were the worst team in baseball last season with a record of 43–119, narrowly avoiding the worst record in MLB history by two games. After the season, the Monforts hired Paul DePodesta away from the NFL’s Cleveland Browns as president of baseball operations.
