Editing Denver Nuggets (section)

===1996–2003: Another period of struggle===
After finishing the 1996–97 season with the fourth-worst record in the league (21–61), the Nuggets sent [[Antonio McDyess]] to the [[Phoenix Suns]], and [[Dale Ellis]] returned to Seattle. Denver flirted with history in the [[1997–98 NBA season|1997–98]], by nearly setting the mark for fewest wins in an 82-game season (11). They tied the then-NBA's all-time worst single-season losing streak at [[List of National Basketball Association longest losing streaks|23]]—only one game shy of the overall worst mark of 24 by the [[Cleveland Cavaliers]] of the early 1980s. The losing streak was later broken by the Cavaliers in 2011 and the [[Philadelphia 76ers]] in 2014 with 26 consecutive losses. While the Nuggets would slowly rebuild towards semi-competitiveness, they remained out of the playoffs, with the best record of this time still a game below .500, a 40-42 finish in 2000-2001. However, it would serve merely a brief respite before struggling further, hitting a nadir at the start of the following season when then-coach [[Dan Issel]] was forced to resign after making an inflammatory comment towards a heckling fan. It all culminated in the Nuggets tying for the worst record in the NBA in [[2002–03 NBA season|2002–03]] with a ghastly 17-65 record, also with the Cavaliers.

====Ownership instability====
The team's struggles in the late 1990s were due in part to ownership instability. COMSAT bought the [[National Hockey League|NHL]]'s [[Quebec Nordiques]] in 1995 and moved them to Denver as the [[Colorado Avalanche]]. However, its diversification into sports ownership was proving a drain on the company. In particular, cost overruns associated with the construction of Pepsi Center had shareholders up in arms. Finally, in 1997, COMSAT agreed in principle to sell Ascent Entertainment Group, the umbrella corporation for its sporting assets, to [[Liberty Media]].<ref name="nuggetscompanyhistory"/> However, Liberty was not interested in sports ownership at the time (though it has since bought the [[Atlanta Braves]]), and made the deal contingent upon Ascent selling the Avalanche and Nuggets.<ref>{{cite web |last1=Graser |first1=Marc |title=Liberty Media buys Ascent |url=https://variety.com/2000/biz/news/liberty-media-buys-ascent-1117776651/ |website=Variety |date=February 23, 2000 |access-date=February 25, 2019 |archive-date=February 25, 2019 |archive-url=https://web.archive.org/web/20190225103022/https://variety.com/2000/biz/news/liberty-media-buys-ascent-1117776651/ |url-status=live }}</ref>

After almost two years, Ascent sold the Avalanche and Nuggets to [[Walmart]] heirs [[Bill Laurie|Bill]] and [[Nancy Walton Laurie|Nancy Laurie]] for $400 million. However, a group of Ascent shareholders sued, claiming that the sale price was several million dollars too low. Ascent then agreed to sell the Avalanche and Nuggets to Denver banking tycoon Donald Sturm for $461 million.<ref name=Press>Schley, Stewart. [http://www.allbusiness.com/north-america/united-states-colorado/1181899-1.html Stan Kroenke's full-court press] {{Webarchive|url=https://web.archive.org/web/20101227052310/http://www.allbusiness.com/north-america/united-states-colorado/1181899-1.html |date=December 27, 2010 }}. Colorado Biz, June 1, 2006.</ref>

However, a new wrinkle appeared when the city of Denver refused to transfer the parcel of land on which Pepsi Center stood unless Sturm promised to keep the Avalanche and Nuggets in Denver for at least 25 years. Sturm had bought the teams in his own name, and the city wanted to protect taxpayers in the event Sturm either died or sold the teams. While Sturm was willing to make a long-term commitment to the city, he was not 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.<ref name=bizjournal>Moore, Paula. [http://www.bizjournals.com/denver/stories/2000/07/17/story4.html Why one deal went smoothly] {{Webarchive|url=https://web.archive.org/web/20200813200313/https://www.bizjournals.com/denver/stories/2000/07/17/story4.html |date=August 13, 2020 }}. [[Denver Business Journal]], July 17, 2000.</ref> In the meantime, Issel had returned as head coach in 1999, but the protracted ownership negotiations made it difficult for him to rebuild the team. Just before the start of the 1999–2000 season, he told reporters there were several personnel moves he simply could not make due to the unstable ownership situation. Under the terms of Strum's purchase agreement, all basketball decisions required the approval of both Ascent/Liberty ''and'' Sturm.<ref>[https://assets.espn.go.com/nba/news/1999/1111/164615.html Nuggets roster moves put on hold] . [[ESPN]], November 11, 1999.</ref>

Finally, in July 2000, the Avalanche, Nuggets and Pepsi Center were bought by real estate entrepreneur [[Stan Kroenke]] in a $450 million deal.<ref name="nuggetscompanyhistory"/> Kroenke is the brother-in-law of the Lauries; his wife [[Ann Walton Kroenke|Ann]] is Nancy Laurie's sister. Liberty retained a 6.5% interest. 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.<ref name=bizjournal/> After the deal, Kroenke organized his sports assets under [[Kroenke Sports Enterprises]].