Greg and Carrie Penner, the Denver couple who own the Broncos and hold a stake in the Colorado Rockies, are expanding their sports portfolio across the Atlantic. Their investment vehicle, Penner Sports Group, is among the backers of Pitchwise Holdings, a consortium that has agreed to acquire a significant minority stake in Spanish LaLiga club Valencia CF, ultimately totaling 42% of the team.
The transaction values Valencia CF at an enterprise value of €1.25 billion, according to a statement from Valencia CF. Pitchwise is purchasing shares from Meriton Holdings, the club's majority owner, and will also inject €100 million in new capital directly into the club. Meriton Holdings, the club's majority owner, will remain Valencia's majority shareholder, and Kiat Lim will continue as club president, per the same statement.
The deal's backers include George Roberts, Henry Kravis, and Penner Sports Group.
A Club Mired Near the Bottom of LaLiga
A Club Mired Near the Bottom of LaLiga The investment arrives at a rough moment on the pitch. Valencia CF is struggling in LaLiga. The club's struggles were on display recently when Roman Yaremchuk celebrated after scoring in a LaLiga match between Valencia and Real Madrid at Mestalla Stadium, the same report notes.
Despite the on-field slide, the new ownership group will oversee a major infrastructure project: Valencia's move into the Nou Mestalla stadium, which is planned to seat more than 70,000 fans, as reported by Reuters. The stadium is now due to be ready in 2027, according to the New York Times, and is set to open ahead of Spain hosting the 2030 FIFA World Cup, per 9News. To get there, Valencia previously secured €322 million in financing arranged through Goldman Sachs, the New York Times reported.
The deal still has hurdles to clear. The investment by Pitchwise is subject to customary closing conditions, including regulatory approvals, Valencia CF's statement says — meaning the transaction has not yet closed.
Part of a Broader Wave of American Money in Soccer
The Penners' move into Valencia fits a pattern that has reshaped European soccer ownership in recent years. American investors now control 11 of the 20 current Premier League clubs, according to CNBC, which notes that U.S. interest has expanded well beyond billionaire ownership into institutional investment and celebrity-backed partnerships, pointing to examples like Ryan Reynolds and Rob McElhenney's 2020 purchase of fifth-tier Welsh club Wrexham.
Fenway Sports Group's history with Liverpool offers another data point on how these valuations can move. FSG bought Liverpool for £300 million in October 2010, and the outlet reports the group is now in talks to sell a significant minority stake in the club at a valuation believed to reach $6 billion. CNBC also notes that the underlying business of European soccer isn't uniformly profitable — only eight Premier League clubs reported an operating profit in the 2024/25 season, with the league recording combined pretax losses of £948 million.
The Penners' Growing Sports Empire
Back home, the Penners' sports holdings have ballooned in just a few years. Greg and Carrie Penner own the Denver Broncos, according to 9News. The Broncos entered Sunday's game at the Arizona Cardinals with a 4-2 record.
The couple also have a stake in the Colorado Rockies.
