This article explores how the ownership of the Denver Nuggets and Avalanche has become intertwined with real estate development due to Stan Kroenke's ambitions. The approval of a massive development plan on parking lots adjacent to Ball Arena highlights the long-term vision Kroenke had when acquiring these franchises.
Ball arena stands among vast parking lots in Denver on Oct. 22, 2024. When Stan Kroenke entered himself into a messy, drawn-out bidding war for ownership of the Nuggets and Avalanche, the vacant land next to Pepsi Center might’ve seemed like the least attractive portion of the potential winnings. The arena itself was brand-new. The star-studded Avs had christened it on Oct. 13, 1999, with a 2-1 win over the Bruins. And as for the Nuggets, basketball was one of Kroenke’s first loves.
His son, Josh, was on the team at the University of Missouri at the time. Amid another nationwide stadium boom, will Broncos build new home to land what Rockies have and what Nuggets, Avs are getting?But the 52-year-old businessman known then as a Walmart heir wasn’t venturing further into team ownership entirely for the sports. Kroenke was a shrewd real estate developer with ambition to build in Denver. Buying the Nuggets, the Avs and their arena in 2000 was a window into the edge of downtown, where he would eventually inherit an expanse of parking lots. Twenty-four years later, Denver City Council approved rezoning for a massive development plan on top of those parking lots that will be carried out by Kroenke Sports & Entertainment, the teams’ parent company — jump-starting the execution of what one high-ranking KSE executive described to The Denver Post as the kind of long-term plan Kroenke envisioned when he bought the two sports franchises. “The Kroenkes have an extraordinary vision,” said Mike Neary, KSE’s executive vice president of business operations, “as it relates to professional sports and real estate.” At a time when uncertainty looms for the future of the Broncos’ home in Sun Valley, Denver’s only privately constructed professional sports venue — now named Ball Arena — is an example of how the business of team ownership has become intertwined with real estate developmen
SPORTS DEVELOPMENT REAL ESTATE DENVER NUGGETS STAN KROENKE BALL ARENA
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