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BOWLEN OPTIMISTIC THE BRONCOS CAN BUCK OUT OF STADIUM LEASE
Published October 23, 1997
Broncos Owner Pat Bowlen on Wednesday predicted that "he can negotiate" a deal with the city of Denver "to break" his team's lease at Mile High Stadium, which expires in 2018, in time for a special stadium election in May, according to Alan Snel of the DENVER POST. Bowlen said that the fact that Denver spent two years "dealing with" Ascent Entertainment over the severing of their lease at McNichols Arena "will help the city and the Broncos hammer out" a deal. However, Snel points out that there are "several" legislative "hurdles to attain" before a stadium election could be held in May. But Bowlen remains "optimistic." Bowlen: "We're not reinventing the wheel here. ... We just have to shut the doors and keep the negotiations out of the newspapers" (DENVER POST, 10/23). In Denver, Ann Imse reports that Stadium Board Chair Ray Baker yesterday said that the new stadium is "likely" to cost $300M, a figure which is 25% "more than" the original $240M projection. The taxpayers' share of the stadium cost "is capped at" $180M by state law, so the entire increase "would be borne" by the team. Despite Baker's estimate, Bowlen feels the facility will cost between $260-$280M (ROCKY MOUNTAIN NEWS, 10/23).