When the Denver Nuggets finally hoisted the Larry O'Brien Trophy in 2023, the man holding it wasn't exactly a local folk hero. Stanley Kroenke, often called "Silent Stan," stood on that podium with the same stoic expression he wears whether his teams are winning championships or facing protests in North London.
If you're looking for the owner of Denver Nuggets, you’ll find a name that carries immense weight across the globe, yet remains something of a mystery in his own backyard.
Stan Kroenke doesn't do press conferences. He doesn't tweet. He doesn't seek the spotlight like a Mark Cuban or a Steve Ballmer. Instead, he builds. He builds stadiums, he builds real estate empires, and lately, he builds champions. But the story of how he actually owns the Nuggets—and the technicality that keeps his name off some of the paperwork—is a fascinating look into the high-stakes world of billionaire sports ownership.
The Technicality: Who Actually "Owns" the Team?
Technically, if you look at the NBA's official books today, the ownership situation is a bit of a family affair.
Back in 2010, when Stan Kroenke wanted to buy the St. Louis Rams (now the Los Angeles Rams), he hit a massive snag. The NFL has a strict "cross-ownership" rule. Basically, an NFL owner isn't allowed to own a major league team in another city that already has an NFL franchise. Since Denver has the Broncos, the NFL told Stan he couldn't keep the Nuggets and the Avalanche if he wanted the Rams.
So, what did he do? He kept it in the family.
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By 2014, Stan transferred his majority stakes in the Denver Nuggets and the Colorado Avalanche to his wife, Ann Walton Kroenke. Yes, that Walton. She’s the daughter of Bud Walton, co-founder of Walmart. While Stan remains the face of Kroenke Sports & Entertainment (KSE), Ann is the legal owner of the Nuggets to satisfy those pesky NFL regulations.
Their son, Josh Kroenke, is the one you’ll actually see at the games. He’s the President and Governor of the Nuggets, handling the day-to-day operations and making the big calls on trades and front-office hires.
A Sports Empire Unlike Any Other
It's hard to wrap your head around the scale of the Kroenke portfolio. Most billionaires are happy with one team. Stan Kroenke treats them like trading cards, except these cards are worth billions of dollars.
As of January 2026, the Kroenke empire includes:
- Denver Nuggets (NBA)
- Colorado Avalanche (NHL)
- Los Angeles Rams (NFL)
- Arsenal FC (Premier League)
- Colorado Rapids (MLS)
- Colorado Mammoth (NLL)
- Los Angeles Gladiators (Overwatch League)
Honestly, it’s a staggering list. And it isn't just about the teams. KSE owns Ball Arena (where the Nuggets play), Dick’s Sporting Goods Park, and the Altitude Sports regional network. In California, he built the $5.5 billion SoFi Stadium, arguably the most impressive sports venue on the planet.
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Why Fans Have a Love-Hate Relationship with Stan
For a long time, Denver fans felt like the Nuggets were the "forgotten" child of the Kroenke family. While Stan was busy moving the Rams to LA and spending billions on SoFi Stadium, or fighting with Arsenal fans in London, the Nuggets felt like they were operating on a budget.
There was the "Altitude vs. Comcast" debacle. For years, a huge chunk of Denver residents couldn't even watch the Nuggets on TV because of a carriage dispute between Kroenke's network and cable providers. You’d have a generational talent like Nikola Jokic playing at an MVP level, and half the city couldn't see the games. It felt cheap. It felt distant.
But then, things changed.
The Nuggets didn't take shortcuts. They didn't try to buy a championship with a "Superteam" that would fall apart in two years. They drafted Jokic in the second round. They stuck by Jamal Murray through a devastating ACL injury. They trusted Michael Malone when other owners would have fired him after a tough playoff exit.
That stability is the hallmark of the owner of Denver Nuggets. Kroenke is patient—sometimes to a fault—but that patience resulted in the 2023 NBA Championship. When you look at the Rams winning a Super Bowl and the Avalanche winning the Stanley Cup in the same 18-month span, it’s hard to argue with the results.
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The 2026 Reality: America’s Largest Landowner
If you think Stan is just a "sports guy," you're missing the bigger picture. As of early 2026, Stan Kroenke has officially become the largest private landowner in the United States.
Following a massive 937,000-acre ranch purchase in New Mexico in late 2025, Kroenke now controls over 2.7 million acres of land. To put that in perspective: that’s more land than the entire state of Delaware and Rhode Island combined.
His net worth has rocketed to an estimated $21.3 billion. He isn't just an owner; he's a sovereign of real estate. Much of his wealth originally came from developing shopping centers, often anchored by Walmart stores (thanks to the family connection), but now he owns the ground beneath the feet of millions of Americans.
What This Means for the Future of the Nuggets
So, what does a guy with 2.7 million acres and a $21 billion fortune mean for a basketball team in Colorado?
- Luxury Tax Isn't a Hurdle: In the past, there were whispers that the Nuggets wouldn't pay the luxury tax to keep a winning team together. That's a myth now. They’ve shown they will pay to keep the core of Jokic, Murray, and Gordon.
- Succession is Already Set: Josh Kroenke is 45 years old and deeply embedded in the NBA world. Unlike other teams that face an identity crisis when an aging owner passes, the Nuggets have a clear, young leader who has already proven he can build a championship roster.
- The "Silent" Strategy Continues: Don't expect Stan to start doing TikToks or post-game rants. The Nuggets will continue to be run like a private, high-end corporation.
The owner of Denver Nuggets is a title that belongs to a family, not just a man. While Stan provides the capital and the cutthroat business instinct, Josh provides the basketball mind, and Ann provides the legal bridge to the NFL world.
It’s a complicated, billion-dollar machinery that somehow, against the odds, produced a small-market champion in an era of big-market dominance.
Actionable Insights for Fans and Investors
- Watch the Real Estate: KSE's moves often signal where they want to develop. The area around Ball Arena is ripe for a "SoFi-style" entertainment district makeover in the coming years.
- Stability Over Splashes: If you’re a fan, don't expect the Nuggets to make "desperation trades." Their ownership philosophy is built on internal growth and long-term scouting.
- The Media Rights Battle: Keep an eye on the transition of local sports broadcasts. With the traditional RSN model dying, the Kroenkes are likely looking at a direct-to-consumer streaming future for the Nuggets.
Stan Kroenke might not be the guy you want to grab a beer with—he probably wouldn't say much anyway—but he’s undeniably turned the Denver Nuggets into one of the most stable and successful franchises in professional sports.