Josh Kroenke announced Friday he will take over as team president of the Avalanche, replacing Pierre Lacroix, while former longtime team captain Joe Sakic was promoted to executive vice president of hockey operations.

"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," Kroenke said in a team statement.

Sakic, 43, has served as an executive adviser with the Avs the past two seasons.

"Joe will be in charge of all hockey-related decisions moving forward," Kroenke said. "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."

Greg Sherman remains the team's general manager. Pierre Lacroix will be a team adviser.

"A few years ago, Pierre Lacroix expressed his wishes to relinquish the title of president," Kroenke said. "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."

Sherman will continue to be in charge of contract negotiations.

"Greg Sherman will work with Joe in managing the day-to-day business operations of the team as general manager," Kroenke said. "I know he is just as optimistic as Joe and I are about the future of our team."

Sakic, a hockey Hall of Famer, will assume a role similar to that of football Hall of Famer John Elway with the Broncos.