Coors is getting out of the baseball business. Will the Monforts be next?
Molson Coors is selling its 15% stake in the Colorado Rockies according to Sports Business Journal.
The buyer is Arizona developer Jay Stein who had previously been involved with the ownership group that controlled the Padres and has since sold. It is estimated that his new stake will cost him somewhere in the neighborhood of $75M, just shy of the reported $80M in debt the Rockies currently hold.
The Denver Post recently sold its stake in the Rox. Now Coors, which has been a partner since inception, is doing the same. One has to wonder if these divestitures have anything at all to do with Monforts and a reluctance to be associated with them – or if these have been purely financial decisions.
Either way, it’s worth speculating whether the Monforts themselves may eventually sell. It’s something Rox fans would love to see happen. Dick and Charlie have no idea what they’re doing. Stein may have the contacts to put a buying group together that could finally take the Monfort Brothers out.
The naming rights agreement that Coors has will not change. Fans will not be flocking to Sports Authority Park anytime soon.
