The Broncos have announced that they will finally remove the Sports Authority logo and name from the Broncos' Mile High stadium.
New year, new name. The problem? That new name has yet to be decided. But even without a replacement naming rights partner just yet, the Denver Broncos' stadium -- most commonly referred to as Mile High -- will finally lose the Sports Authority moniker, roughly two years after the sporting goods retailer crumbled in bankruptcy. The Sports Authority logo will come down within the next week, Broncos president and CEO Joe Ellis said, according to The Denver Post. “I expect by the start of the season we’ll either have a placeholder name or a name on the building that involves a corporation supporting that name,” Ellis said.
While many fans wish that the stadium would just be called Mile High Stadium (in a nostalgic nod to its predecessor and because the stadium was paid for mostly by Denver-area taxpayers), a corporate sponsor is needed, Ellis explained. The Broncos have stepped up to the plate and covered the bill for maintenance and upgrades in the absence of a naming rights partner, but they can't continue to do it forever.
Sports Authority was paying $6 million per year for naming rights in a 25-year agreement, before declaring bankruptcy in March 2016 and missing two quarterly payments. The agreement began in 2011, with the previous naming rights belonging to investment management company Invesco in a $120 million deal. The stadium opened in 2001, and the Broncos are its primary tenant.
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"The stadium has been terrific," Ellis said. "I’m really proud of the way Stadium Management Company, all of us down there, maintained it and kept it up. It’s a great environment. A lot of terrific memories have already taken place there, and I expect many more. I look forward to resolving this naming issue as fast as we can.”
So whose name do you think should be on the stadium? We already have the Pepsi Center, Coors Field, and Dick Sporting Goods Park. Is there a local company that you wish had the means to become a naming partner?
We want to hear your ideas in the comments below!
