Broncos want to end Sports Authority stadium naming rights deal
The Denver Broncos haven’t had the best of luck with their stadium naming rights partners. Perhaps it’s karma for all the fans who hated the idea that the new stadium would be called anything but Mile High Stadium.
First, it was Invesco Field at Mile High (the last part of the name was a lame way to appease the fans who wanted it to be called Mile High). After a somewhat rocky time with Invesco, the naming rights were transferred to the sporting goods store Sports Authority in 2011. That was hailed as a much better relationship, with a company that was a mainstay through Colorado and around the country.
Then Sports Authority’s business took a downturn, the company filed for bankruptcy this year, closed all of its stores and failed to make two quarterly payments to the Broncos totaling about $2.1 million according to the Denver Post and other outlets. So the Broncos filed a motion in U.S. Bankruptcy Court, hoping to end the sponsorship agreement. The team and stadium district is trying to avoid Sports Authority selling or auctioning off the contracts related to the team and stadium, the Post said.
Perhaps the Broncos will open defense of their Super Bowl championship in (Your Name Here) Stadium at Mile High.
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Sports Authority had a $150 million deal over 25 years with the Broncos. The agreement with the Broncos might have ended up hurting Sports Authority’s business (considering Sports Authority’s issues, the naming rights didn’t seem to help, at least). Stadium naming rights still seem to be selling well, so there must be some value in them. The Broncos shouldn’t have trouble finding a new partner, if they’re able to end the sponsorship agreement with Sports Authority over the breach of contract claim.
So the Broncos apparently will move on to their third stadium name this decade. After Invesco and Sports Authority didn’t work out, maybe the Broncos can find a company that will be able to put a more permanent name on the place.
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Frank Schwab is the editor of Shutdown Corner on Yahoo Sports. Have a tip? Email him at [email protected] or follow him on Twitter! Follow @YahooSchwab
