The Colorado Avalanche Hockey Club announced today that Josh Kroenke has been named President and Joe Sakic has been named Executive Vice President of Hockey Operations. Pierre Lacroix will remain with the organization as an advisor.

“Beginning today, I will be assuming the responsibilities as Avalanche team President,” said Kroenke. “Having had the privilege of learning under a mentor like Pierre Lacroix, and then spending the past few seasons as Governor, I feel ready to become much more involved on a daily basis.”

“I am thrilled to announce that Joe Sakic has agreed to become Executive Vice President of Hockey Operations for the Avalanche,” continued Kroenke. “In that role, Joe will be in charge of all hockey-related decisions moving forward. With his credentials, presence and knowledge of the game, Joe will be a key ingredient in making sure that together we reach our future goals.”

“A few years ago, Pierre Lacroix expressed his wishes to relinquish the title of president,” added Kroenke. “At that time, we felt Pierre should keep the title of president while I gained experience. Pierre will continue to be a valuable resource for all of us.”

“Greg Sherman will work with Joe in managing the day-to-day business operations of the team as General Manager,” added Kroenke. “I know he is just as optimistic as Joe and I are about the future of our team.”

Sherman will continue to be in charge of contract negotiations and be the Avalanche’s contact with the league office and its member teams.

“Last week, Josh reached out to me about the possibility of a bigger role,” said Sakic. “After those discussions, I really believe that Stan and Josh are committed to this franchise and want us to get back to where we used to be and compete for the Stanley Cup. Because of their commitment, it’s definitely the right time for me to take a more active role.”

“I know that the foundation of this club is there and with the tremendous hockey staff currently in place and working with Josh and Greg, we will be successful,” added Sakic.

“I am excited for what lies ahead for our hockey club,” said Sherman. “The fact that both Josh and Joe have taken on larger roles speaks to their belief about what this franchise is capable of achieving.”

Kroenke, 33, has spent the last three years as the Avalanche’s Governor, working closely with the organization and Kroenke Sports & Entertainment executives on multiple business operation issues.

In addition to his role as President and Governor of the Avalanche, Kroenke will continue to serve as the President and Governor of the NBA’s Denver Nuggets. Over the past three years as team President, Josh has been involved in every aspect of the Nuggets organization’s day-to-day operations and helped Denver to a franchise-record 57 regular season wins (57-25) this past year. The 2012-13 campaign marked his sixth season overall with the Nuggets front office.

Sakic, 43, recently completed his second season as the organization’s Executive Advisor/Alternate Governor. He was named to this position on March 25, 2011 and officially began his duties at the conclusion of the 2010-11 season. In that role, Sakic served as an executive advisor regarding all facets of hockey operations and also represented the Avalanche at the Board of Governors Meetings. In November of 2012, Joe was inducted into the Hockey Hall of Fame.