The money matters. But more than that, it provides hope.
In a city where football has long overshadowed baseball, a quiet but consequential shift in ownership may be rewriting the terms of that relationship. Dick Monfort, long a symbol of stagnation for Colorado baseball fans, has sold a 40 percent stake in the Rockies to Greg and Carrie Walton Penner — the same stewards who have methodically rebuilt the Denver Broncos into a franchise of ambition and credibility. It is a moment less about money than about what money signals: that someone with a proven vision now has a seat at the table, and that the long patience of Colorado baseball fans may finally have found a reason to renew itself.
- Three straight hundred-loss seasons and the smallest crowds in Coors Field history have left the Rockies franchise in a state of quiet crisis that could no longer be papered over.
- A looming labor stoppage after this season adds urgency to every structural decision, with Monfort historically among the harder-line owners in negotiations — a posture that carries real risk for a franchise already on thin ice with its fan base.
- The Penners didn't need to be convinced — conversations began a year ago, and they arrived as willing partners, not reluctant rescuers, bringing with them a track record of transforming the Broncos from a national punchline into a Super Bowl contender in under four years.
- The $672 million deal will retire debt and give the franchise financial stability, while the front office overhaul already underway — DePodesta, Byrnes, new business staff — suggests the organizational rebuild is real, not cosmetic.
- Colorado baseball, the Penners believe, is a sleeping giant: Coors Field still draws when there's a reason to show up, and fans haven't abandoned the Rockies so much as they've run out of reasons to believe in them — a distinction that leaves the door open.
For the first time in years, something genuinely hopeful happened to Colorado baseball. Dick Monfort agreed to sell a 40 percent minority stake in the Rockies to Greg Penner and Carrie Walton Penner — the same couple who have been quietly transforming the Denver Broncos since purchasing the team in 2022. Structured through the Penner Sports Group, the deal represents roughly $672 million and will help pay down existing debt while giving Monfort room to navigate what comes next, including a potential labor stoppage looming after this season.
Monfort has been a lightning rod for fan frustration for years, presiding over a franchise that has made the playoffs just five times in 34 seasons, never won the NL West, and most recently endured seven straight losing seasons — including three consecutive hundred-loss campaigns. The most recent homestand drew the smallest crowds in Coors Field history. But something shifted last October when Monfort promoted his son Walker and brought in Paul DePodesta as team president and Josh Byrnes as general manager, signaling that the old way of doing things was over. Friday's announcement is the next step in that same direction.
The Penners were not reluctant participants. Conversations reportedly began about a year ago, and they came in motivated to contribute rather than to take over. Their Broncos tenure offers a compelling preview of what engaged ownership looks like: a $175 million headquarters, a privately financed new stadium, a $12 million high school helmet initiative, the hiring of Sean Payton, and more than $400 million in player extensions — all of it turning a struggling franchise into a legitimate Super Bowl contender.
For the Penners, the Rockies represent a genuine opportunity. They believe baseball is a sleeping giant in Colorado — potentially the state's second sport if the team can string together a few good Octobers. Fans haven't abandoned the idea of the Rockies; they've simply run out of reasons to believe in them. What this deal offers, more than any valuation or win-loss record, is the possibility that the people now shaping this franchise are genuinely trying to build something worth believing in again.
For the first time in a long time, something genuinely hopeful happened to Colorado baseball. Dick Monfort, who has owned the Rockies through two decades of mostly mediocre baseball and three straight hundred-loss seasons, agreed to sell a 40 percent minority stake in the franchise to Greg Penner and Carrie Walton Penner — the same couple who have been quietly transforming the Denver Broncos since buying the team in the summer of 2022.
The deal, structured through the Penner Sports Group, represents an investment of roughly $672 million, based on Forbes' most recent valuation of the Rockies at $1.68 billion. The money will help pay down existing debt and give Monfort financial breathing room as he figures out what he wants the franchise to become — a question that carries added urgency with a potential labor stoppage looming after this season.
Monfort has been a lightning rod for fan frustration for years. He's complained publicly about Major League Baseball's lack of a salary cap, watched regional sports network revenue dry up, and presided over a team that has made the playoffs just five times in 34 seasons, never won the National League West, and appeared in only one World Series — a 2007 sweep at the hands of the Boston Red Sox that ended what had been an improbable, electric run. The most recent homestand drew the smallest crowds in Coors Field history. Seven consecutive losing seasons have a way of doing that.
But something shifted last October. Monfort promoted his son Walker to vice president and gave him room to bring in genuine baseball talent: Paul DePodesta as team president, Josh Byrnes as general manager, and a wave of new business staff. It was the clearest acknowledgment yet that the old way of running things wasn't working. Friday's ownership announcement is the next step in that same direction.
The Penners were not dragged into this. Conversations reportedly began about a year ago, and they came in motivated to participate rather than to take over. This is a partnership, not a hostile move — though it functions as a significant safety net for a franchise that has needed one. Their roles with the Broncos will remain unchanged; they still plan to attend practice several days a week and stay deeply involved with the football team.
What they've done with the Broncos in less than four years is worth pausing over. They built a $175 million team headquarters. They moved forward on a privately financed new stadium. They launched a $12 million initiative to put more than 15,000 helmets in the hands of high school football programs. They hired Sean Payton, signed players to contract extensions worth more than $400 million over the past 18 months, and turned a franchise that had become a national punchline into a legitimate Super Bowl contender. The standard they've set — in how players travel, eat, and feel valued — has been noticed across the league.
For the Penners, the Rockies represent a business opportunity they find genuinely compelling. Baseball, they believe, is a sleeping giant in Colorado — potentially the state's second sport if the team can string together a few good Octobers. Coors Field, despite being the third-oldest park in the National League, still draws people when there's a reason to show up. Fans haven't abandoned the idea of the Rockies; they've just run out of reasons to believe in them.
The broader game is also in better shape than it was a few years ago. The pitch clock has quickened the pace. Eliminating the shift has opened up the field. The new Automated Ball-Strike Challenge System has added a layer of drama. The Penners saw all of this and decided the moment was right.
Monfort isn't going anywhere, and a full sale isn't on the table — at least not now. Whether that changes may depend in part on how labor negotiations unfold; Monfort has been one of the harder-line owners in those talks on behalf of commissioner Rob Manfred. The Rockies are 6-7 this season after losing 119 games last year, which is modest progress but progress nonetheless.
What this deal really offers is something harder to quantify than a valuation or a win-loss record. It offers the possibility that the people now involved in running this franchise are genuinely trying to build something. For a fan base that has been waiting a long time for that feeling, it's not nothing.
Notable Quotes
The Penners were motivated to get involved rather than take over — this is a partnership, not a palace coup.— Paraphrased from column by Denver Post columnist Troy Renck
Baseball is a sleeping giant in Colorado — potentially the state's second sport if the team can deliver a few good Octobers.— Paraphrased assessment attributed to the Penners' view, per Renck
The Hearth Conversation Another angle on the story
Why does it matter who the minority owners are? Monfort still controls the team.
Because money and influence aren't the same thing. The Penners bring both, but what they really bring is a track record — and that changes what's possible.
What does the Rockies' track record actually look like?
Five playoff appearances in 34 years. One World Series, swept in four games. Three straight hundred-loss seasons. The 2025 team lost 119 games — the worst in franchise history.
So why would the Penners want in on that?
They see what Coors Field could be if the team is worth watching. They've said baseball could be Colorado's second sport. That's not delusion — it's happened before, in the Rocktober years.
Is this really about the Penners' money, or something else?
Both. The cash helps pay down debt and buys Monfort time before a likely labor stoppage. But the credibility they carry — what they've built with the Broncos — is the more valuable thing.
Could this lead to a full sale eventually?
Maybe. That question is tied to how labor negotiations go. Monfort is one of the harder-line owners in those talks. A lot could shift depending on the outcome.
What's the risk here for Rockies fans?
That this is window dressing. That the structure changes but the results don't. The Penners are minority owners — they can influence, not control. The proof will be in the standings.
And the reason for optimism?
Look at what they did with the Broncos in under four years. They don't seem to do things halfway.