Denver, CO
Broncos owners buy 40% ownership stake in the Colorado Rockies
A seismic shift has come to the Colorado Rockies.
The Penner Sports Group, which owns a controlling interest in the Denver Broncos, has joined the Rockies ownership group in a move that will have a major impact on Colorado’s Major League Baseball franchise. Rockies chairman and CEO Dick Monfort and owner/general partner Charlie Monfort announced the move on Friday.
Penner Sports Group — the family entity of Greg and Carrie Walton Penner that holds a large stake in the Broncos — now becomes the largest minority partner of the Rockies. Sources told The Denver Post that the Penners are purchasing a 40% share of the Rockies.
Greg Penner will remain CEO of the Broncos, and fellow primary owner Carrie Penner, his wife, will continue on in her various roles with the team. The Penners will have no day-to-day involvement running the Rockies, a source said.
“We are excited to expand our commitment to the Denver sports community through a minority partnership with the Colorado Rockies,” the Penners said in a prepared statement. “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.”
According to Forbes, the Rockies are valued at $1.68 billion, ranking 25th among Major League Baseball’s 30 teams. The Penner Sports Group’s investment has been formally approved by MLB.
The Penner’s investment will help the Rockies become a bigger player in baseball’s current, uneven financial landscape, in which big-market teams like the Los Angeles Dodgers and New York Yankees outspend mid-market teams like the Rockies.
Renck: Rockies hit a home run for Colorado fans by bringing in Broncos owners
According to the Rockies, the Penners’ investment allows the franchise to retire all outstanding debt and provides additional capital for the team.
Dick Monfort will continue in his role as chairman and CEO, Charlie Monfort will remain as owner/general partner, and Walker Monfort (Dick’s son) will remain as the club’s president, running day-to-day operations.
“Speaking personally, on behalf of Charlie and our family, our other partners and the organization, we’re excited to welcome Greg and Carrie Penner into the Colorado Rockies ownership group,” Dick Monfort said in a statement. “I’ve had the pleasure to build a strong relationship with Greg and Carrie over the past few years. 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.”
Negotiations between the Monforts and Penner have been ongoing for months, sources told The Post.
The Walton-Penner Family Ownership Group, led by Greg Penner, Carrie Walton Penner, and Rob Walton, purchased the Broncos for $4.65 billion in August 2022. The Broncos are in the early in the process, but knee deep on the way to building a new stadium and entertainment complex at Burnham Yard.
“Our family’s had such a positive experience with the Broncos, reinforcing our interest in partnering with another team in this dynamic sports market,” the Penners said. “We’ve enjoyed getting to know the Monforts and are grateful to join Dick and Charlie in the Rockies’ ownership group along with the other partners.
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball.”
Dick and Charlie Monfort became the Rockies’ majority owners in 2005. Forbes first valued the Rockies in 1998, just five years after their inception, at $303 million. Since then, the club has appreciated by more than 450%.
Denver, CO
Family identifies teenage victim of deadly shooting at recreation center in Denver
Family members have identified the teenage victim of the deadly shooting at Denver’s Montbello Recreation Center as 14-year-old Mikail Nasir Khalid Payne, who went by Nasir. According to the family, Nasir was standing up for his older brother in an altercation when the shooting happened.
The shooting happened Thursday night at the Montbello Recreation Center off E. 53rd Ave in northeast Denver. Denver Police say a boy has since been arrested and is being held in custody for investigation of first-degree murder.
Nasir’s uncle, Sareef Aleem, said his two nephews went to the rec center on Thursday night. He said Nasir’s older brother was there when the shooting happened and witnessed it.
“Two kids confronted Hassan, and they put their hands on him, and as soon as Nasir stood up, another kid, a third kid that was on the side, blindsided him, and just shot him,” said Aleem. “It’s very difficult. I got the call late last night, we’re just shocked.”
Police say those involved knew one another, and the victim, Nasir, died at the scene. Police also say it was an isolated incident.
A recreation center is known to be a safe space for many kids after school or during the summer, Nasir’s family says.
“They were created to be a safe place for our kids to go, where they didn’t have to worry about getting shot or assaulted,” said Aleem. “We need to check our kids, check their bags, check their rooms and make sure that they’re taking basketballs to the rec center and not pistols.”
Jolon Clark, Executive Director of Parks and Recreation, said in a statement, “Recreation centers are more than facilities. They are gathering places where community is built, where young people learn and grow and where families come together. They have long been and remain the safest place for our youth to gather, which makes today so much harder.”
Aleem said his nephew, Nasir, was one month away from turning 15. He added that Nasir was respectful, kind, and had an entrepreneurial spirit.
“He used to help his family with their landscaping business on a regular basis. He also used to sell little perfume oils right here in this neighborhood and at the car wash over there. People knew him and respected him,” said Aleem.
“He was well-mannered, courteous, excellent character,” said Imam Abdur-Rahim Ali.
Abdur-Rahim Ali and others gathered at an Islamic Center on Friday, a day of worship for the Islamic community, where Nasir and his family visit often.
“I knew him from coming here for services. He was very intelligent, respectful individual. He came in and made prayer on a frequent basis, and just a respectful youth,” said Abdur-Rahim Ali. “The main day of worship for us is on Fridays, so many people came today, and we told them what happened. Of course, it’s a shock.”
Aleem said in Islamic tradition, family members try to bury their loved ones within 24 hours. As Memorial Day Weekend is just ahead, he added it’s been a burden on the family to take care of before the holiday.
“His family is distraught right now. They’re trying to process what happened. His family just wants everybody to know that he was a good kid, and he didn’t deserve this,” said Aleem. “It’s just a shame that he’s not around to fulfill his dreams.”
The family is also raising money to cover funeral costs.
As the investigation is underway, the Montbello Recreation Center is also closed until further notice.
In a statement from Mayor Mike Johnston, he said, “No statement can capture the grief we feel today. Our hearts are broken. To the family of the victim and the entire Montbello community, know that you have our deepest sympathies and our unwavering support.”
In a statement from the Denver City Council, they said: “The Denver City Council joins Mayor Mike Johnston in extending heartfelt sympathies to the victim’s family, Montbello residents, young people, and the staff at the Montbello Recreation Center following Thursday’s tragic shooting.”
Denver Police are asking anyone with information about the shooting to call 720‑913‑7867.
Denver, CO
Agency releases claim on $5 million of $7.5 million owed for new Broncos stadium
When the Colorado Department of Transportation’s investment arm had the chance to buy the idle Burnham Yard from Union Pacific in early 2021 for $50 million, money was tight.
CDOT turned to the Colorado Office of Economic Development and International Trade for a $7.5 million loan, which, together with a $7.5 million down payment from the High Performance Transportation Enterprise or HPTE, allowed a $35 million commercial bank loan to move forward in May of that year.
The deal was touted as a once-in-a-generation opportunity that would allow Interstate 25 between Colfax and Santa Fe to be widened and straightened. The purchase could improve transit access, including serving as a potential hub for a Front Range Passenger Rail line.
Not only would frustrated commuters gain back the countless hours of time they were losing to a poor road design, but chances were good that CDOT could make money on flipping the land it didn’t need.
Definitely enough to repay OEDIT, Shoshana Lew, CDOT’s executive director at the time, reassured commissioners.
None of that is happening.
CDOT will sell the 58 acres of Burnham Yard to the Denver Broncos, who are looking to build a new stadium on the site, for $45.8 million, less than what it paid.
After a deeper dive, CDOT nixed its original plans for transit improvements and found the land was more contaminated than expected. It also realized that straightening out I-25 was going to cost billions of dollars it didn’t have.
But not all was lost. A $4 billion football stadium and entertainment district will go into the area, with transit upgrades to serve that new use.
And as for the $7.5 million loan that is owed to OEDIT, only $2.5 million will go back into the state’s Strategic Fund, which is used to recruit employers and fund economic development programs across the state.
The fund has about $3.8 million left.
“What we are asking for today is to convert $5 million of the $7.5 million overall loan into a grant to make the rest of the infrastructure commitments that we’ve made happen,” Lisa Kaufmann, strategic adviser to Gov. Jared Polis, told the Economic Development Commission on Thursday morning.
The money would help fund a relocation of the main rail line, improve road access from Interstate 25, and eliminate three at-grade rail crossings.
For the “modest investment” in public infrastructure, the state would get billions of dollars in private investment, Kaufmann said.
And if that weren’t enough to sway the commissioners, Kaufmann reminded them that the reason the Strategic Fund even had the dollars to lend out was that she had lobbied to get $40 million in American Rescue Plan Act funds in there.
That $1.9 trillion federal program included $350 billion to help state and local governments recover from the pandemic.
After going into an executive session, the commissioners approved the request.
Colorado lost jobs last year and is struggling to add residents, an area that the Strategic Fund helps address.
But the state also faces a $1.5 billion shortfall for the upcoming fiscal year, a gap more severe than what it faced in 2021 when it borrowed the $7.5 million from OEDIT.
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Denver, CO
Police investigate shooting at Montbello Recreation Center
DENVER (KDVR) — Police are on the scene of a shooting on Thursday at the Montbello Recreation Center.
The Denver Police Department initially reported the shooting happened in the 15000 block of East 23rd Avenue.
Police said a juvenile was pronounced dead at the scene.
There is no suspect in custody at this time, but officers said they are gathering suspect information.
Anyone with information regarding the incident is asked to contact Metro Denver Crime Stoppers at 720-913-7867.
This is developing news. FOX31 will update.
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