DENVER (AP) — The Colorado Rockies are bringing in Denver Broncos owners Greg Penner and Carrie Walton Penner through a minority investment from the Penner Sports Group.
Rockies chairman & CEO Dick Monfort and owner/general partner Charlie Monfort announced the deal Friday. It's been approved by Major League Baseball.
The Penner group is purchasing approximately a 40% share of the Rockies, a person with knowledge of the situation said. That person spoke to The Associated Press on condition of anonymity because the figure hasn't been released. The group becomes the largest minority partner for the Rockies, a team Forbes has valued at $1.68 billion.
Dick and Charlie Monfort will continue their roles, with Walker Monfort serving as the team's president. The organization said the investment allows the club to “retire all outstanding debt” in addition to providing an enhanced experience at Coors Field.
“Greg and Carrie have proven that they share the same passion for our region and a strong commitment to compete at the highest level," Dick Monfort said in a statement. "We are thrilled to add them to the Colorado Rockies’ ownership group as we best position this franchise for long-term sustained success.”
The Rockies are off to a 6-7 start this season. They made big changes in the offseason after a third straight year with 100 or more losses. The front office is now led by Paul DePodesta, the president of baseball operations, and general manager Josh Byrnes.
The Walton-Penner Family Ownership Group bought the Broncos from the Pat Bowlen Trust in August 2022 for a then-record $4.65 billion. Walmart heir Rob Walton also is an owner, while Formula One driver Lewis Hamilton, Mellody Hobson and former U.S. Secretary of State Condoleezza Rice serve as limited partners.
Denver made it to the AFC championship game last season before losing 10-7 to the New England Patriots.
“While our focus remains firmly on the Broncos, we look forward to being supportive, long-term partners of the Rockies and Major League Baseball,” the Penners said in a joint statement. “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.”
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Denver Broncos owner Greg Penner walks after attending a session at the NFL football annual meetings, Tuesday, March 31, 2026, in Phoenix. (AP Photo/Ross D. Franklin)
NEW YORK (AP) — Stocks wavered on Wall Street Friday and oil prices held steady amid a shaky ceasefire agreement between the U.S. and Iran.
The S&P 500 fell 0.2% in afternoon trading, on pace for a weekly loss. The Dow Jones Industrial Average fell 309 points, or 0.6%, as of 1:29 p.m. Eastern. The Nasdaq composite rose 0.2%.
Major indexes have been gaining ground over the last two weeks amid optimism that the war with Iran could be heading toward a resolution. The S&P 500 has erased most of its losses from March and is just 2.4% short of its all-time high set in January. The market is still prone to big swings on developments around the war.
Trading on Wall Street remained choppy. Most companies in the benchmark S&P 500 were losing ground, but technology stocks with hefty values helped offset losses elsewhere. Nvidia rose 2.2% and Broadcom rose 4.8%.
Markets in Asia gained ground while markets in Europe were mixed.
Oil prices have been behind many of the stock market’s sharp movements. Oil prices have surged as shipping through the vital Strait of Hormuz essentially stalled since the war began.
Brent crude oil, the international standard, has gone from roughly $70 per barrel before the war in late February to more than $119 at times. Brent rose 1% to $96.88 Friday.
U.S. crude oil prices rose 0.5% to $98.35 per barrel.
Negotiators from Iran and the U.S. are preparing for high-level talks on Saturday. The situation remains uncertain. Iran’s semiofficial Tasnim news agency claimed that talks wouldn’t happen unless Israel stopped its attacks in Lebanon.
The conflict is behind surging inflation in the U.S. in March. The government reported the biggest spike in inflation in four years as prices at the gas pump jumped. But, the inflation increase was just short of what economists expected.
Bond yields held mostly steady following the latest inflation update. The yield on the 10-year Treasury rose to 4.32% from 4.29% late Thursday.
Inflation has been a lingering concern for economists. Prices on a range of consumer goods and services are already stubbornly high, in part from the impact of extensive global tariffs. Higher gas prices are immediately felt by drivers at the pump, but they could eventually raise prices on everything from food to airfare as companies pass along higher costs for shipping and fuel.
Analysts are warning that there might be a drawn out impact from the oil supply shock in the months ahead.
“While I’m glad to see the effects to be less than expected in March, the effects in April are now more likely to be worse,” Jamie Cox, managing partner for Harris Financial Group, wrote in a research note.
Consumer sentiment slumped 10.7% percent in April, according to a closely watched monthly survey from the University of Michigan. It also shows that consumers are growing more worried about inflation, with year-ahead expectations surging to 4.8% in April from 3.8% in March.
Inflation remains a major concern for the Federal Reserve, which has signaled more caution amid worries about inflation reheating. The rate of inflation remains above the central bank's 2% target. The threat of rising inflation will likely mean the central bank continues to hold interest rates steady. Several Fed officials have also said a rate hike may be needed if inflation doesn’t cool.
Lower interest rates help boost stocks and other investments by lowering borrowing costs. Interest rate cuts also risk worsening inflation.
Wall Street is forecasting that the Fed will likely hold its interest rate steady through 2026.
Bobby Charmak works on the floor at the New York Stock Exchange in New York, Tuesday, April 7, 2026. (AP Photo/Seth Wenig)
John Mauro works on the floor at the New York Stock Exchange in New York, Tuesday, April 7, 2026. (AP Photo/Seth Wenig)
Philip Finale works on the floor at the New York Stock Exchange in New York, Tuesday, April 7, 2026. (AP Photo/Seth Wenig)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, April 10, 2026. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top center left, at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, April 10, 2026. (AP Photo/Ahn Young-joon)
A screen showing Asia markets indexes at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, April 10, 2026. (AP Photo/Ahn Young-joon)
Currency traders stretch near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters, in Seoul, South Korea, Friday, April 10, 2026. (AP Photo/Ahn Young-joon)
