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Auctioneers: Bid Expected For Stadium Naming Rights By End Of Week

By Mark Ackerman

DENVER (CBS4) – The company hired through bankruptcy court to sell the naming rights to Sports Authority Field at Mile High says it expects to have a bid by the end of the week.

A Monday night deadline passed last night without a winning bid.

In an email exchange with the auction company Hilco Streambank, spokesperson Jack Hazan confirmed the bid deadline won't be extended again.

When CBS4 asked if "it was accurate to report there was no bidder at the deadline last night," Hazan replied, "No."

"We are speaking to several parties that expressed an interest and will continue to do so," Hazan wrote.

A winning bidder through bankruptcy court would assume the original naming rights contract inked with Invesco in 2001. That deal has five remaining seasons, valued at roughly $3 million per season, which may be a great value compared to more recent NFL stadium deals which exceed $10 million per season.

Sports Authority's next naming rights payment to the Metropolitan Football Stadium District is due on Monday. Thirty days after that payment is missed, the stadium district could sell the naming rights.

Mark Ackerman is a Special Projects Producer at CBS4. Follow him on Twitter @ackermanmark

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