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Coors sells its minority ownership interest in the Rockies

Nov 25, 2013, 2:02 PM EDT

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The ballpark will still be called Coors Field, but Coors is out of the Rockies ownership group. Sports Business Journal reports that the brewer has sold its 14.5% interest in the team:

“Molson Coors is proud of the role we played in bringing a Major League Baseball team to Denver and remains highly supportive of the Colorado Rockies,” the company wrote in a statement emailed to SportsBusiness Journal. “However, we have decided to sell our 14.5% stake in the team so that we can focus our resources more fully on building our global beer business. This transaction has no impact on the naming rights for the stadium, which will remain Coors Field.”

The new minority owner is Jay Stein, a developer from Scottsdale, Arizona who used to be part of the Padres ownership group. Control of the team, of course, remains with Dick and Charlie Monfort.

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