Monfort brothers purchase McMorris’ share of Rockies
DENVER (Ticker) - Colorado businessman Jerry McMorris, who was president and CEO of Colorado Rockies during their first nine years, no longer is financially involved with the franchise.
The Rockies on Thursday announced that chairman and CEO Charlie Monfort and his brother, Dick, have purchased McMorris’ financial interest in the team.
Terms of the agreement were not disclosed, but McMorris was among eight members of the Rockies ownership group entering 2005.
An ownership group led by McMorris purchased controlling interests in the Rockies on September 2, 1992, and he served as president and CEO until current president Keli McGregor took over in October 2001. During that time, the Rockies recorded three winning seasons, reached the postseason in 1995 and hosted the All-Star Game in 1998.
“Jerry McMorris stepped in at the beginning of the Rockies’ history and served a critical role both in the team’s early successes and in the industry,” Major League Baseball commissioner Bud Selig said. “Under his stewardship, Coors Field became a reality and the Rockies reached the playoffs in only the third year of existence, the fastest any expansion team had reached the playoffs at that time.”
In four seasons since McMorris was succeed as president, the Rockies have finished no better than 74-88. This past season, Colorado tied for the worst record in the National League (67-95) to mark its worst record since 1994.
“I will always have memories of our fans and players helping this organization build momentum, set attendance records and secure the organization’s first playoff appearance,” McMorris said. “As a fan, I am looking forward to the club’s future successes and I wish Charlie, Dick and the entire organization the best of luck.”
One of the Rockies managing general partners since 1992, Charlie Monfort was named chairman and CEO on March 31, 2003. Dick Monfort has been vice chairman since December 8, 1997.
“We are very pleased that we have reached an agreement with Jerry,” Charlie Monfort said. “His leadership was instrumental during the formation of the franchise and much of the early success of the Rockies can be attributed to his vision and passion.”