Penner Sports Group, the co-owner of the Denver Broncos National Football League (NFL) franchise, has acquired a minority stake in the Colorado Rockies Major League Baseball (MLB) team.
The family office of Greg and Carrie Walton-Penner has acquired close to a 40% stake in the Rockies (who also play in Denver), becoming the team’s largest minority stakeholder.
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Dick Monfort, the Rockies' chief executive and head of the team’s Monfort family ownership group, alongside owner and general partner Charlie Monfort, will remain in control of the franchise.
Speaking on the agreement, Dick Montfort said: “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.”
In March, Forbes valued the Rockies at $1.68 billion, providing a potential benchmark for Penner Sports’ investment.
Penner Sports Group came into part ownership of the Broncos franchise in 2022, in a then-record $4.65 deal.
The group led by billionaire Rob Walton, the heir to the Walmart corporation, along with his daughter Carrie Walton-Penner and her husband Greg Penner, immediately became one of the richest ownership groups in the league.
Walton’s wealth has come from the inheritance of the mass family fortune derived from the Walmart retail empire, the world’s largest retailer. A son of the chain’s co-founder, Walton chaired the company from 1992 to 2015.
While it is understood that Rob Walton’s wealth was the key driver behind the acquisition, it was Greg Penner who took up the role of chief executive of the franchise upon the competition of the deal, and within a year, he was designated as the new controlling owner of the franchise.
Since then, the team has seen an upturn in form, reaching the playoffs in each of the past two years, and going all the way to the AFC Championship game in 2025.
Unlike in the NFL, the lack of a salary cap in MLB means that owners can invest far more of their personal wealth in their teams, and additionally, that the fortunes of each franchise are tied more closely to the wealth of its owners.
Perhaps, given that franchise payroll was in the bottom third all MLB teams in 2025, it is no surprise that the 43-win Rockies were not only the league's worst team last season, but also one of the worst MLB teams of all time.
In fact, the Rockies have just eight winning seasons in franchise history (33 years), last reached the post-season in 2018, and this year will look to break a three-year streak of consecutive 100-loss campaigns.
Despite this, back in July 2025, the team was able to secure a long-term jersey patch partner, with aerospace company York Space Systems taking up the prominent branding spot through the 2030 season in a deal reportedly worth over $30 million.
The franchise also recently hired famed executive John DePodesta to the role of president of baseball operations.
While the Penners, in a statement, revealed that they are unlikely to take any meaningful interest in the day-to-day operations of the Rockies, perhaps the major influx of cash could galvanize the team’s performance, affording DePostesta more to work with.
In a statement, the Penners said: “We are excited to expand our commitment to the Denver sports community through a minority partnership with the Colorado Rockies.
“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.
“Our family’s had such a positive experience with the Broncos, reinforcing our interest in partnering with another team in this dynamic sports market.
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball.”
After 16 games of the 2026 MLB season, the Rockies boast a 6-10 record, standing at fourth in the highly competitive five-team National League West division.
