Broncos Purchase Naming Rights To Stadium, Team Has 'Exciting Prospects'
By Tom Mustin
DENVER (CBS4) - The clock may be ticking on the Sports Authority name at Mile High Stadium. The team has purchased the naming rights to the stadium, pending court approval.
As the Broncos left the practice field Wednesday afternoon, fans were talking about the future name of Sports Authority Field at Mile High.
"I wouldn't mind seeing it go back to just Mile High," said Stephanie Christen.
Broncos President Joe Ellis said the team paid the Metropolitan Football Stadium District $3.6 million to take over the rights and assume the contract.
"We own the rights to that contract then, thus can go out and resell it on our own," Ellis told CBS4's Tom Mustin.
Ellis said selling the naming rights will help eliminate the call for a new stadium and offset the skyrocketing cost of stadium improvements -- estimated at more than $300 million over the next 30 years.
"For us to have to go out in 10 or 15 years and try and drum up interest in a $2 billion stadium, that's going to be difficult. If we can do in the neighborhood of $250 to $350 million to keep it up and improve it, that's a more prudent way of doing business," Ellis said.
Ellis said the Broncos will take their time making a decision
"Is there any pressure to get this done before opening kickoff?" asked Mustin.
"No," said Ellis. "We've talked about that but I don't think that's realistic. We want to get the right partner and right deal for everyone involved."
Fletcher Soteris favors renaming the stadium Mile High as a nod to the old Orange Crush days.
"We did win two Super Bowls with that name -- only one with the other, so maybe there's some luck there," Soteris said.
Ellis said that probably won't happen, but with several suitors in the mix, the Broncos confidence in a lucrative financial deal is a mile high.
"We've got some exciting prospects out there, so stay tuned," he said.
The bankruptcy court has until Aug. 31 to approve the deal. The Sports Authority name will stay up at the stadium until a new deal is reached.
Ellis said the clock is ticking. He said the Broncos are already talking to several qualified businesses interested in taking over the stadium name. He expects to have a deal in place in the next few months.
Tom Mustin is CBS4's Weekend Anchor. He has been with CBS4 since 2002, and is always looking for great story ideas. Connect with Tom on Facebook or follow him on Twitter @TomCBS4.
