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Molson Coors Selling 14.5% Stake In Rockies To Former Padres Investor

Molson Coors is selling its 14.5% stake in the Rockies to Arizona developer Jay Stein, "ending the equity ownership the brewer has held in the club since the team's inception" in '91, according to Daniel Kaplan of SPORTSBUSINESS JOURNAL. Molson Coors said that the sale "does not affect its long-standing naming-rights deal" for Coors Field. The company said they are selling the stake in the team "so that we can focus our resources more fully on building our global beer business." Sources said that the move comes as the Denver Post has taken its 7.3% share of the team "off the market, in part because ... it felt Coors is not getting full value for its stake." Stein, who serves as President of Scottsdale-based Sandor Development, was part of former Padres Vice Chair Jeff Moorad's ownership group. Sources "pegged the Rockies' full franchise value" around $600M, so Molson Coors' stake in the team would have been valued at $75.4M after $80M in debts were settled. Coors "played an integral role in investing in the Rockies expansion franchise and has been closely linked ever since Coors merged with Molson" in '05 (SPORTSBUSINESS JOURNAL, 11/25 issue).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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