Kroenke Sports and Entertainment — which owns the Nuggets, Avalanche, Rapids and Pepsi Center — announced Friday that it has created a COVID-19 relief fund to financially assist its employees amid the coronavirus pandemic.
The Kroenke Family Foundation has donated $500,000 into the fund, which is geared to helping “provide basic necessities and essentials to those struggling the most financially,” according to a news release.
“Based on comments from our incredible players, coaches, and executive staff, we fully expect the Fund to grow to $1,000,000 in the very near future,” Stan and Josh Kroenke said in a joint statement.
A committee will review applications from employees and the financial assistance will not be taxed.
In March, KSE pledged to pay its part-time and hourly employees for 30 days.
“While tough decisions lie ahead for all businesses worldwide, we will continue to do everything in our power to support the well-being of our entire staff,” the Kroenkes said in the release.
