Denver Broncos owner and chief executive officer Greg Penner has confirmed that his primary focus remains delivering a new stadium for the franchise by 2031, dismissing immediate speculation about shifting his attention toward becoming the majority owner of the Colorado Rockies. According to reports from the Associated Press, Penner and his wife, Carrie Walton Penner, acquired a 40% minority stake in the Major League Baseball club earlier this year, but leadership of the baseball franchise remains firmly with Chief Executive Dick Monfort and General/Managing Partner Charlie Monfort.
The 2031 Stadium Timeline and Burnham Yard Land Acquisition
Constructing a replacement for Empower Field at Mile High near downtown Denver is a complex undertaking involving multiple moving parts, according to team leadership. The Broncos recently finalized an agreement to purchase six parcels spanning nearly 10 acres in the northern section of the planned stadium footprint at Burnham Yard, securing land from SRM Concrete—previously one of the site’s most persistent opponents. While the organization has bought a vast amount of land in the area, Penner noted that Burnham Yard remains a preferred site rather than a finalized location.
Building a massive sports and mixed-use district near downtown requires a deliberate approach to avoid unnecessary expenditures. “You don’t want to start these massive projects without having the majority, or if not todos, the elements aligned, because you end up spending a lot more money,” Penner stated via the Associated Press. Current stadium renderings remain in early development, though the projected venue is slated to feature a natural grass playing surface and a retractable roof.
Personal Seat Licenses and Fan Communication
As planning for the future stadium continues, the franchise has not yet determined whether personal seat licenses (PSLs) will be part of the financing structure. Penner indicated that addressing PSL policies is premature given the current stage of development. “Of course, it’s the last thing we’re thinking about right now,” Penner said, emphasizing that season ticket holders remain vital to the organization and will receive regular updates as concrete decisions are made.
Minority Stake in the Colorado Rockies
Addressing his role in Major League Baseball, Penner clarified that his involvement with the Colorado Rockies is strictly supportive. The minority investment developed through a series of breakfast meetings with Dick Monfort over the past few years following the Walton-Penner family’s acquisition of the Broncos. “Right now, we’re just focused on being supportive minority partners,” Penner explained. “Dick and Charlie have full control, and we’re going to do what we can to support them.”
Roster and Coaching Continuity
On the football operations side, Penner addressed current roster stability and coaching contracts. The organization has not yet initiated talks regarding a long-term contract extension for quarterback Bo Nix, who is entering his third NFL season. Meanwhile, head coach Sean Payton recently signed a five-year contract extension aligned with general manager George Paton’s new agreement, a move Penner attributed to strong collaboration between the two leaders.
The Broncos operate out of their newly opened new team headquarters, a facility that hosted Dick Monfort for a tour earlier this week as cross-franchise cooperation in the Denver sports market continues to develop.
