Nuggets and Avalanche in Denver for at least 25 years before it transferred the parcel of land on which Pepsi Center stood. Sturm had bought the teams in his own name, and city officials wanted to protect taxpayers in case Sturm either died or sold the teams before the 25 years ran out. While Sturm was willing to make a long-term commitment to the city, he wasn't willing to be held responsible if he died or sold the teams. After negotiations fell apart, Liberty bought all of Ascent, but kept the Nuggets and Avalanche on the market. Finally, in July 2000, the Avalanche, Nuggets and Pepsi Center were finally bought by real estate entrepreneur Stan Kroenke in a US$450 million deal. Kroenke is the brother-in-law of the Lauries; his wife Ann Walton Kroenke is Nancy Laurie's sister. Liberty retained only a 6.5% stake of the sports franchises. As part of the deal, Kroenke placed the teams into a trust that would ensure the teams will stay in Denver until at least 2025. After the deal, Kroenke organized his sports assets under Kroenke Sports Enterprises. See also COMSAT mobile communications References External links www.comsat.com Intelsat Telecommunications companies established in 1963 Former Lockheed Martin companies Telecommunications companies of the United States Privately held companies based in Washington, D.C. 1963 establishments in Washington, D.C. Colorado Avalanche owners Denver Nuggets owners 1999 mergers and acquisitions Telecommunications companies disestablished in 2007 2007 disestablishments in Virginia American companies established in 1963