January 5th 2025.
For almost 100 years, the Monfort family of Colorado has been known for their ability to capitalize on the perfect timing and location for their endeavors. This is certainly true for Coors Field, the stadium funded by the public that has become a gold mine for one of the state's most renowned families. In the midst of a nationwide stadium boom, the question arises - will the Broncos follow in the footsteps of the Rockies and secure a new home? And is Coors Field the blueprint for success when it comes to publicly funded stadiums? These are just some of the questions we'll explore as we dive into the story of Coors Field and the Monfort family.
Let's start at the beginning. The 30-year-old ballpark, located at 20th and Blake, has become a coveted destination for any sports team owner. It has hosted two All-Star Games, outdoor hockey games, and numerous concerts, making it a popular tourist attraction on warm summer nights. Since its opening in 1995, over 84 million baseball fans have passed through its gates, despite the fact that the Rockies have only had nine winning seasons and made the playoffs five times in 32 years.
Former Denver Mayor Federico Peña, who played a crucial role in bringing Major League Baseball to Denver and selecting the LoDo stadium site, gives Coors Field an "A-plus" when it comes to its success. He credits the entire community, from the citizens who supported it to the architects and those involved in selecting the site, for its achievement. In many ways, Coors Field has set the standard for successful ownership in professional sports in the 21st century. By having a venue in a thriving neighborhood, the franchise has been able to tap into multiple revenue streams and sustain the business year-round.
The Monfort family has certainly benefited from this, attracting millions of visitors to Coors Field every year and developing real estate around the ballpark that not only brings in profits but also serves as a way to fund future stadium improvements and maintenance. This has ensured the long-term viability of Coors Field, with the help of taxpayers. As the third-oldest ballpark in the National League, behind Wrigley Field in Chicago and Dodger Stadium in Los Angeles, Coors Field has been well-maintained under the stewardship of primary owner Dick Monfort. While other contemporary stadiums come and go, Monfort envisions the Rockies calling Coors Field home for many more decades to come.
Speaking of taxpayers, the question arises - is Coors Field a wise investment for those who funded its construction? Economists argue that publicly funded stadiums are not the best use of tax money, as they tend to simply shift entertainment dollars from one neighborhood to another rather than bringing in economic gains for the cities that host them. J.R. Bradbury, a professor of economics, finance, and quantitative analysis, explains that while he thinks Coors Field is a fantastic ballpark, the economic impact is limited. He co-authored a study that found that between 1970 and 2020, $33 billion in public funds were used to construct major-league sports venues in the United States and Canada. The study also showed that the public's share of construction costs has decreased over the years, while the amount of public money used has increased significantly.
Over the last 50 years, the value of Major League Baseball franchises has skyrocketed. For example, the Seattle Pilots were sold for $10.8 million in 1970, but are now valued at $1.6 billion according to Forbes. Despite these findings, Peña argues that there are other considerations besides economics when it comes to investing public money in a stadium that ultimately benefits the owners. He believes that sometimes, supporting a major economic asset and something that adds to the overall culture and well-being of a city is necessary, and the happiness it brings to the community cannot be measured.
To bring Major League Baseball to Denver, the league required the construction of a baseball-only stadium. The Colorado Baseball Partnership's pitch to the voters was simple - the cost of the ballpark would only amount to "a penny on a purchase of 10 dollars." In August 1990, voters in six counties approved a 0.1% sales tax to fund the $215 million ballpark, with the remaining $48 million coming from the original Rockies owners. Although Denver and Adams County initially rejected the tax, it was passed with strong support from the suburbs. The original plan was for the Coors Field bonds to be paid off in 20 years, but thanks to a healthy economy and lower interest rates, the debt was paid off in less than 10 years.
Since then, many baseball stadiums built around the same time as Coors Field have been replaced. However, Coors Field has stood the test of time. Kevin Kahn, the Rockies' longtime vice president of baseball operations, is proud of the fact that the ballpark has remained relevant and a popular destination for fans, despite the team's wins and losses. With investments in and around the ballpark, the Monforts have every reason to continue their commitment to Coors Field for the long haul.
For almost a century, the Monfort family of Colorado has been successful in bringing their ideas to fruition at just the right time and place. A prime example of this is Coors Field, a stadium that was built using public funds and has become a gold mine for one of the state's most prominent families.
The topic of stadium construction is currently a hot one, with many cities across the nation experiencing a boom in this area. The question now remains - will the Denver Broncos follow in the footsteps of the Colorado Rockies and build a new home for themselves? And if so, will it be as successful as Coors Field, which has become a model for how publicly funded stadiums can thrive? These are the questions that the Monforts and other team owners are seeking to answer.
Part of the appeal of Coors Field is not just the stadium itself, but also its location in the historic LoDo neighborhood. This combination has made it a highly desirable destination for millions of visitors each year, with events like the All-Star Games, outdoor hockey games, and concerts adding to its allure. Since it opened its gates in 1995, over 84 million fans have passed through Coors Field, despite the fact that the Rockies have only had a few winning seasons and playoff appearances.
Former Denver Mayor Federico Peña, who played a key role in bringing Major League Baseball to the city, believes that the success of Coors Field is due to the efforts of the entire community, from the citizens who supported the project to the architects and those involved in selecting the site. Compared to other stadiums around the country, Peña gives Coors Field an "A-plus" rating.
In many ways, Coors Field has set the standard for successful sports ownership in the 21st century. The Monforts have not only benefited from the millions of visitors to the stadium each year, but also from the real estate development around the ballpark that serves as a source of revenue and funding for future improvements and maintenance. This has ensured the long-term viability of Coors Field, with the help of taxpayer support.
Despite being the third-oldest ballpark in the National League behind Wrigley Field in Chicago and Dodger Stadium in Los Angeles, Coors Field has been well-maintained under the Monforts' stewardship. While other stadiums are often demolished and forgotten, Dick Monfort, along with his sons Walker and Sterling, can see the Rockies calling Coors Field home for many more decades to come.
The question then becomes, is Coors Field a good investment for the taxpayers who funded its construction? Economists have long argued that publicly funded stadiums are not a wise use of tax money, as they often just shift entertainment dollars from one neighborhood to another without producing significant economic gains for the host cities. However, former Denver Mayor Peña believes that there are other factors to consider, such as the overall culture and well-being of the city.
To bring Major League Baseball to Denver, a new stadium was required, and the Colorado Baseball Partnership successfully convinced voters to approve a 0.1% sales tax to help fund the $215 million project. While the original plan was for the stadium to be paid off in 20 years, a strong economy and lower interest rates allowed for the debt to be paid off in under 10 years. And unlike many other stadiums built around the same time, Coors Field has stood the test of time and continues to be a beloved landmark in the city.
Thanks to the success of Coors Field and the investments made in and around the ballpark, the Monforts have every reason to continue supporting and maintaining the venue for years to come. With the support of the community and taxpayer dollars, Coors Field has become a shining example of how a publicly funded stadium can be a profitable and sustainable enterprise.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
