Broncos assume naming rights to Sports Authority Field

What will adorn the facade of the Denver Broncos’ stadium following Sports Authority Field at Mile High is still unknown, but the club did assume the naming rights contract from the Metropolitan Football Stadium District.

In a release, the Broncos said the “acquisition streamlines the process for securing the best possible long-term partnership for the naming rights to our stadium.”

Broncos CEO Joe Ellis, who joined Sandy Clough from the team’s training camp session Wednesday morning at UCHealth Training Center, said the organization had spent the last few days trying to assume the contract.

Ellis emphasized the importance of finding the right partner to replace Sports Authority, along with the importance of the revenue generated with the naming rights deal.

“Every dollar counts, and every dollar coming into the district that goes back into capital improvements’ or capital repairs is essential for maintaining the building so that we don’t have to come back –– the Bowlen family does not have to come back –– and build a new stadium.”

The deal is pending court approval, which Ellis said will be decided later in August.

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Sports Authority Field at Mile High will remain the stadium’s name for the time being, and no timetable has been set for reaching a new naming agreement.

The Broncos, as has been done in the past, will split all proceeds from the future naming right’s deal 50-50 with the stadium district.

“They’ll get paid. I think that was important. Even though we’re making the payment, they’ll get paid,” Ellis said.

The move also ensures MFSD will receive it’s $3.6 million payment for the naming rights that was due Aug. 1, according to Denver 7 Broncos Insider Troy Renck.

#Broncos acquiring naming rights takes out of bankruptcy court, assures Stadium Districts gets next $3.6 million payment on time #Denver7

— Troy Renck (@TroyRenck) August 3, 2016

Sports Authority filed for bankruptcy in March.