Teams/Northwest Division
Denver Nuggets
Property developer Stan Kroenke has controlled the Nuggets since July 2000, when he paid $450M for the team, hockey's Colorado Avalanche and their arena. Forbes values the Nuggets alone at $5.15B, and the franchise has had nine ownership groups since 1967.
Every owner since the start
- 2000-todayStan Kroenke (KSE)
Bought from Liberty Media on 6 July 2000, paying $450M for two teams and the arena.
- 1992-2000COMSAT, later its unit Ascent Entertainment
Paid 62.5% of the 1989 price, then bought out Peter Bynoe in August 1992; price not found. Liberty Media later took over Ascent.
- 1989-1992Bertram Lee and Peter Bynoe, with COMSAT
Bought from Sidney Shlenker for $65M (one 1991-92 article says $54M). Lee and Bynoe held 37.5%.
- 1985-1989Sidney Shlenker
Bought from Red McCombs in May 1985 for $20M.
- 1978-1985Red McCombs
Bought in 1978; price not found.
- 1974/75-1978Nuggets Management Inc., Denver investors
Bought from Goldberg and Fischer in 1974 and 1975; price not found.
- 1972-1974/75Frank Goldberg and Bud Fischer
Bought from Bill Ringsby; price not found.
- 1967-1972Bill Ringsby and his son
Bought two-thirds from the Trindle group for $350,000.
- 1967James Trindle group
Awarded the ABA franchise, first meant for Kansas City; price not found.
Value over time
- 12000 Stan Kroenke buys, $450M package
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $110M |
| 1999 | $124M |
| 2000 | $175M |
| 2002 | $188M |
| 2003 | $209M |
| 2004 | $268M |
| 2005 | $283M |
| 2007 | $321M |
| 2008 | $329M |
| 2009 | $321M |
| 2011 | $316M |
| 2012 | $316M |
| 2013 | $427M |
| 2014 | $495M |
| 2015 | $855M |
| 2016 | $855M |
| 2017 | $890M |
| 2018 | $1.12B |
| 2019 | $1.38B |
| 2020 | $1.6B |
| 2021 | $1.73B |
| 2022 | $1.93B |
| 2023 | $3.38B |
| 2024 | $3.9B |
| 2025 | $4.6B |
| 2026 | $5.15B |
| Year | Sale | Team valued at |
|---|---|---|
| 2000 | Kroenke buys Nuggets, Avalanche and arena for a $450M package; Liberty Media keeps 6.5% | $450M |
Forbes valued the Nuggets at $110M in 1998 and $5.15B in 2026, about 47 times as much. The biggest one-year jump was $1.445B, from $1.93B in 2022 to $3.375B in 2023.
How the current owner bought it
- The seller was Liberty Media. It got both teams and the arena by buying Ascent Entertainment, and wanted to resell them.
- Two earlier sales failed. Ascent shareholders sued over a $400M deal with Bill and Nancy Laurie, Kroenke's in-laws, calling the price too low.
- A $461M deal with banker Donald Sturm collapsed when Denver demanded a guarantee that the teams would stay 25 years.
- Kroenke's deal was announced on 24 April 2000 and closed on 6 July 2000. It tied both teams to Denver until at least 2025.
- Nothing is pending on the Nuggets in 2026. KSE agreed on 1 September 2026 to buy control of baseball's Los Angeles Angels; closing is expected in early 2027.
Partners in the team
No outside partners or investment funds are reported today; the only recorded minority stake is the 6.5% Liberty Media kept in 2000.
How the team is run
- Stan Kroenke leaves the Denver teams to Josh, who is also vice chairman of KSE.
- NFL rules on owning teams in other NFL cities shaped the structure. The NFL approved moving the shares to Ann Walton Kroenke on 7 October 2015.
- In April 2025 Josh fired coach Michael Malone and did not keep general manager Calvin Booth. David Adelman and Ben Tenzer replaced them.
- KSE owns Ball Arena. A $135M renovation, announced in September 2026, is due by the 2028-29 season.
- Denver approved a 64-acre redevelopment of the arena car parks on 21 October 2024, with more than 6,000 homes planned by 2050.
Quick answers
Who owns the Denver Nuggets?
Property developer Stan Kroenke has controlled the Nuggets since July 2000, when he paid $450M for the team, hockey's Colorado Avalanche and their arena.
How much are the Denver Nuggets worth?
Forbes values the Denver Nuggets at $5.15B in its October 2026 list, up 12% from $4.6B a year earlier. That makes them the 18th most valuable of the 30 teams; in 1998 Forbes put the team at $110M.
How much did the current owner pay for the Nuggets?
$450M with a hockey team and arena (Stan Kroenke, 2000).
Who owned the Denver Nuggets before the current owner?
COMSAT, later its unit Ascent Entertainment (1992-2000). Paid 62.5% of the 1989 price, then bought out Peter Bynoe in August 1992; price not found. Liberty Media later took over Ascent.
Open questions
- How the 2000 purchase was financed: not found.
- What became of Liberty Media's 6.5% stake: not found.
- When Liberty Media took over Ascent: sources conflict between 1997 and about 2000, and the price was not found.
- Governor: Wikipedia lists Stan; the league-affiliated biography, used here, names Josh.
- NBA fines against Nuggets ownership: not found.