"The Rockies specified only that the Penner investment made them the largest minority stakeholder under the Monfort family, which retains majority ownership."
"The influx of cash allows them to retire all outstanding debt while providing additional investment in the team."
"The Rockies are coming off the first three 100-loss seasons in franchise history and have had seven straight losing campaigns."
"Colorado opened this season with a $117MM payroll, according to The Associated Press, the 21st-highest mark in the league."
Penner Sports Group has purchased a 40% minority share in the Colorado Rockies, making them the largest minority stakeholder under the Monfort family. The sale price is believed to be around $672 million. The investment allows the Rockies to retire all outstanding debt and potentially invest further in the team. The Penners will not have daily responsibilities with the Rockies, as they remain focused on the Denver Broncos. The Rockies have struggled recently, coming off three consecutive 100-loss seasons.
Read at MLB Trade Rumors
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