Denver Broncos owners Greg Penner and Carrie Walton Penner have acquired a 40% stake in the Colorado Rockies through their Penner Sports Group, according to multiple reports. The deal, approved by Major League Baseball, makes the Broncos ownership group the largest minority partner in the franchise. The Rockies, valued at $1.68 billion by Forbes, will use the investment to retire all outstanding debt and enhance the fan experience at Coors Field.

Rockies chairman and CEO Dick Monfort, along with brother Charlie Monfort, will maintain their roles as majority owners while Walker Monfort continues as team president. The Walton-Penner Family Ownership Group purchased the Broncos in August 2022 for a then-record $4.65 billion, with Walmart heir Rob Walton and notable limited partners including Formula One driver Lewis Hamilton and former U.S. Secretary of State Condoleezza Rice.

The Rockies enter this season with renewed hope after three consecutive 100-loss campaigns. New leadership under president of baseball operations Paul DePodesta and general manager Josh Byrnes comes as the team starts 6-7 this year. The Broncos, meanwhile, reached the AFC Championship Game last season before falling to the New England Patriots 10-7.