He kept thinking out loud about the long game.
Dick Monfort had breakfast with Greg Penner half a dozen times before he fully understood what kind of partner the Broncos owner might be. What struck him wasn't the small talk about the current season or the quarterback situation — it was that Penner kept thinking out loud about the long game. That quality, Monfort said publicly during the Rockies' 2025 home opener, is what made Penner stand out. Two months after that conversation became public, the two men started talking about going into business together.
On April 10, 2026, that partnership became official. Greg and Carrie Penner, through their Penner Sports Group ownership entity, have acquired a significant minority stake in the Colorado Rockies — approximately 40 percent, according to sources — making them the club's largest minority partners. Major League Baseball has formally approved the transaction. Among the previous minority investors bought out in the process was The Denver Post.
The Monfort family is not going anywhere. Dick Monfort stays on as chairman and CEO, Charlie Monfort remains as owner and general partner, and Walker Monfort continues running day-to-day operations as club president. The Penners will have no operational role in the club. Their investment is financial and strategic, not managerial — a distinction both sides have been careful to draw.
The dollar figure was not publicly disclosed, but the math is suggestive. Forbes valued the Rockies at $1.68 billion in its most recent annual rankings. A roughly 40 percent stake at that valuation puts the investment in the range of several hundred million dollars. The Rockies say that capital will be used to retire all outstanding club debt while also funding improvements to both the on-field product and the fan experience at Coors Field.
For the Rockies, the timing is pointed. The franchise has spent three consecutive seasons losing at least 100 games, and this offseason brought a sweeping front-office overhaul: Walker Monfort was elevated to president, and veteran baseball executives Paul DePodesta and Josh Byrnes were brought in to lead baseball operations. The club entered Friday's game at San Diego sitting at 5-6 — modest, but a marked departure from the recent pattern of early-season collapse.
For the Penners, this is an extension of a track record that has made them one of the more closely watched ownership groups in American professional sports. They took control of the Broncos less than four years ago and inherited a franchise mired in an eight-year playoff drought. Under their stewardship, Denver returned to the postseason in back-to-back seasons, including hosting last year's AFC Championship Game. Off the field, they committed $100 million to upgrade Empower Field at Mile High, broke ground on a $175 million training facility set to open by June, and identified Burnham Yard as the preferred site for a privately funded new stadium slated for 2031. The Denver Broncos Foundation has grown to distribute more than $8 million in community grants annually, and the Penners are among only four NFL ownership groups to receive an 'A' grade in the last three NFLPA owner surveys.
With this Rockies investment, Penner Sports Group joins a small circle of ownership entities holding meaningful stakes across multiple major American sports leagues. Stan Kroenke's portfolio — spanning the Rams, Nuggets, Avalanche, Rapids, Mammoth, and Arsenal — is the most prominent local comparison. The Walton side of the Walton-Penner Broncos ownership group is also expanding its footprint: Rob Walton recently disclosed a 10 percent stake in the Arizona Diamondbacks and led the acquisition of the Rajasthan Royals in India's Premier League cricket competition.
Dick Monfort, who is expected to play a central role in upcoming labor negotiations between MLB and the players' union — with the current Collective Bargaining Agreement expiring in December and a potential lockout on the horizon — framed the Penner partnership in terms that went beyond the financial. "We know we are gaining much more than just financial support," he said in a statement. The Penners, for their part, were measured: their focus, they said, remains firmly on the Broncos, but they expressed confidence in the Rockies' future and gratitude for the relationship with the Monfort family.
What comes next is a franchise trying to turn a corner, now with considerably more capital to do it — and a new minority partner whose recent history suggests they know something about what a turnaround looks like.
Notable Quotes
We know we are gaining much more than just financial support in this partnership with Penner Sports Group.— Dick Monfort, Rockies Chairman & CEO
While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball.— Greg and Carrie Penner
The Hearth Conversation Another angle on the story
Why does it matter that this is coming through Penner Sports Group rather than just the Penners personally?
It signals institutional intent. This isn't a vanity buy — it's a portfolio move, the same vehicle that holds their Broncos stake. It puts the Rockies investment in the same category as their NFL franchise.
The Rockies are 5-6 and coming off three straight 100-loss seasons. Is this a bet on a turnaround or a bet on the market?
Probably both, but the market logic is easier to defend right now. Denver is a growing city, Coors Field is a proven venue, and the franchise's floor is higher than its recent record suggests.
The Penners are buying out previous minority investors, including The Denver Post. What does that tell us?
It tells us they wanted a clean, consolidated stake — not a seat at a crowded table. Forty percent is a meaningful position. You don't accumulate that by accident.
Monfort said Penner thinks about the long term, not just this year's team. What does long-term actually mean in this context?
Probably the stadium conversation, eventually. The Broncos are already planning a new facility at Burnham Yard. If that development shapes the surrounding neighborhood, the Rockies' situation at Coors Field becomes part of the same civic calculus.
The Penners say their focus remains firmly on the Broncos. Is that reassuring or is it a hedge?
It's both, honestly. It reassures Broncos fans that nothing changes there. But it also sets expectations low for Rockies fans — don't expect the Penners to be the ones driving decisions on the field.
Monfort is heading into labor negotiations with a potential lockout looming. Does this partnership change his leverage?
Fresh capital and a high-profile new partner probably don't hurt his standing in those rooms. It signals the franchise is being run with some seriousness, which matters when owners are trying to present a unified front.
Is there a version of this where the Penners eventually become majority owners of the Rockies?
Nothing in the current arrangement points that way — the Monforts retain full control. But 40 percent is not a passive position, and relationships between minority and majority owners have a way of evolving over time.