Avalanche ownership adds to empire with purchase of MLB franchise

The Colorado Avalanche will now welcome one more member to the growing Kroenke sports team empire.

News emerged on Tuesday that Kroenke Sports and Entertainment would buy a controlling stake in the Los Angeles Angels. As The Athletic noted, the Angels have a roughly $4 billion valuation, with the precise amount of the transaction still unknown.

The sale is subject to approval by MLB owners.

The move will allow Stan Kroenke, the architect of the sprawling empire, to add one more jewel. With endeavors in the NFL, NBA, MLS, and Premier League soccer, the addition of an MLB team pretty much gives the Kroenke empire a presence in every major North American league.

So, what does this mean for the Colorado Avalanche?

On the surface, it doesn’t affect the Avs in any material way. These are completely separate entities that have their own management groups, even if they share the same parent company.

What should be interesting to Avalanche fans, however, is the bigger-picture aspect here on the business side.

Avalanche fans should be glad team has one of most solid owners in sports

What the purchase of the Los Angeles Angels by the Kroenke group signals is that the Avalanche have one of the most solid owners in sports. Instead of running into financial trouble and needing to spin off assets, the Kroenke group is actually adding.

In fact, it’s actually interesting that this announcement comes days after the record-breaking contract Cale Makar signed. It shows that the Avalanche have owners with deep pockets. While $20 million a season is still $20 million, it highlights that the Avalanche ownership isn’t afraid to spend money when it has to.

And judging by the way things are trending, Avalanche fans should feel reassured that the club will have the resources it needs to compete for a while to come.

Overall, this development should be good news for Avalanche fans. The team has one of the most powerful businesspeople backing it. Because of that, Colorado, as a franchise, should be on the right path for a long time.

The Cale Makar extension proved it.

Now, it will be a matter of proving that ownership has made the right decision by showing what the team can do on the ice. One more Stanley Cup would be a fantastic way of bringing this entire conversation full circle.

Let’s see what the future has in store for the Avalanche, as part of a broader sports ecosystem.

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