Kroenke's representatives did not return messages left by The Associated Press seeking an interview.
DENVER NUGGETS SUMMER LEAGUE PROFESSIONAL
“I always thought I’d enjoy (owning a sports franchise) because the professional sports business is part business and part sports,” Kroenke told the Columbia (Missouri) Daily Tribune in 2022, “and I love both of them.” Real estate and sports are, these days, almost intertwined - a reality Kroenke grasped quickly. Not long after, he got into the real estate business, building shopping centers with a developer who was tight with Walmart founder Sam Walton. His first deal: Taking a $1,500 loan at 6% interest from his dad so he could buy part of a clothing shop with his friend. Though Kroenke married into money - he wed Walmart heiress Ann Walton in 1974, a few years after meeting her during a ski trip to Aspen - he had already honed his business chops. “One thing I know about Stan is that when he sets his mind to doing something, and when he thinks he's right, he's going to fight for that,” said Wellington Webb, who was Denver's mayor in 1999 and helped broker the deal that closed a year later between Kroenke and the Nuggets. These days, the Nuggets are estimated by Forbes to be worth $1.93 billion. Kroenke's deal to purchase the Nuggets, along with the Colorado Avalanche and their home arena for $450 million, included a clause that tethered the NBA franchise to Denver for the ensuing 25 years. Denver hosts the Miami Heat in Game 2 Sunday night after winning the Finals opener. Now, the conversation is about how the Nuggets were able to reach their first NBA Finals thanks to the stubborn patience displayed by the Kroenkes, who have taken an unorthodox route toward assembling an unorthodox winner. *John Leyba/The Denver Post via AP, File) John Leyba/AP Show More Show LessĪll of the talk of them relocating no longer exists. Much has been made about how the Nuggets were able to reach their first NBA Finals thanks to the stubborn patience displayed by the Kroenkes, who have taken an unorthodox route toward assembling an unorthodox winner. Jack Dempsey/AP Show More Show Less 2 of3 FILE - Denver Nuggets President Josh Kroenke, left, stands beside his father, Stan Kroenke, during an NBA basketball game between the Nuggets and Dallas Mavericks on March 19, 2012, in Denver. And all talk of them relocating no longer exists. Stan Kroenke's deal to purchase the Nuggets, along with the Colorado Avalanche and their home arena for $450 million, included a clause that tethered the NBA franchise to Denver for the ensuing 25 years. 1 of3 FILE - Stan Kroenke, left, owner of the Denver Nuggets, and his son Josh Kroenke watch during the first quarter of an NBA basketball game between the Nuggets and the San Antonio Spurs on March 23, 2011, in Denver.
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