Denver Broncos fans have a message for their team’s owners: Before investing in another sports franchise overseas, make sure the championship ambitions in Denver are being met. Greg and Carrie Penner, the Broncos’ principal owners, are expanding their sports portfolio with a minority investment in Spanish soccer club Valencia CF.
The move gives the family another foothold in professional sports, following its investment in Major League Baseball’s Colorado Rockies, but it has also sparked frustration among Broncos fans who want to see more tangible progress from their own franchise.
Denver Broncos cheerleader’s secret day job has fans completely amazed
The deal was announced Friday, Oct. 23, with Pitchwise Holdings agreeing to acquire a 42% stake in Valencia in a transaction valuing the Spanish club at approximately $1.4 billion, including debt. Penner Sports Group, the investment company founded by Greg and Carrie Penner, is among the consortium’s backers.
The agreement includes a commitment to inject approximately $112 million, in new capital into Valencia. The club’s existing majority owner, Meriton Holdings, will retain control, while Kiat Lim will remain president. The transaction is subject to customary closing conditions, including regulatory approvals.
Broncos fans question ownership’s priorities
The Walton-Penner group purchased the Broncos from the Pat Bowlen Trust in 2022 for a then-record $4.65 billion. Since taking over, the owners have pursued investments beyond the NFL, including a minority stake in the Rockies and now an interest in Valencia.
The latest move has drawn criticism from supporters already concerned about the Broncos’ long-term stadium plans and the cost of attending games. Denver has been exploring the possibility of a new stadium, with estimates reaching approximately $4 billion. Against that backdrop, the Penners’ growing sports portfolio has raised questions about whether the Broncos remain the group’s primary competitive priority.
One fan expressed frustration over the cost of supporting the team, writing: “Good for them, now charging Bronco fans a royalty fee for their seats and inflating costs for season tickets by 400% makes so much more sense!”
Another supporter took aim at the economics of modern sports ownership, saying: “Cool! Millionaires getting more attention! Super fun for us hard working Americans that pay exorbitantly to attend games.” Others responded with sarcasm. “Broncos fans asked for an offensive weapon and got a Spanish soccer club,” one fan wrote.
Not every reaction was entirely negative. One supporter offered a more optimistic take, saying, “I hope it benefits the Broncos offense.” The responses reflect a broader tension in professional sports: Owners increasingly view franchises as part of diversified business portfolios, while fans tend to judge ownership by what happens on the field and how much it costs to watch their teams.
There is also a distinction worth making. The Valencia investment is being made through Penner Sports Group as part of a broader investor consortium; it is not a direct purchase by the Broncos organization. The announcement does not establish that money intended for Denver’s roster or stadium plans has been redirected to Spain.
The club has also faced financial challenges surrounding a new stadium
A new opportunity for Valencia amid financial and sporting struggles The investment arrives at a critical point for the club one of Spain’s historic soccer clubs. Valencia have struggled on the field and are near the bottom of the La Liga standings.
The club has also faced financial challenges surrounding the construction of Nou Mestalla, its planned new stadium. The project endured a lengthy suspension before construction resumed last year following a financial package intended to help move it forward. The new stadium is expected to accommodate more than 70,000 spectators, significantly expanding on the current Mestalla’s capacity of approximately 49,000.
The incoming investors will help oversee Valencia’s transition to the new venue, which represents a major part of the club’s long-term plans. Additional capital could provide greater financial flexibility, although it does not guarantee improved results on the pitch or resolve every challenge facing the organization.
Valencia’s situation also illustrates why wealthy investors continue to pursue professional sports teams. Established clubs offer international audiences, commercial opportunities and valuable brands, even when their immediate sporting fortunes are poor.
The Penners have previously emphasized their commitment to providing the resources needed to make the Broncos a championship contender. “Whether it’s this facility [or] a new stadium, we’re trying to raise the expectations and our expectation is we want to win championships,” Greg Penner said. “We’re going to do everything it takes and provide the resources that are necessary to do it.”
