SBD/7/Facilities Venues

BRONCOS REACH DEAL ON LEASE BUYOUT AT MILE HIGH STADIUM

          The Broncos "have a deal that will let them leave" Mile
     High Stadium, contingent on voter approval November 3 of a
     $260M subsidy of a proposed $350M stadium, according to Ann
     Imse of the ROCKY MOUNTAIN NEWS.  Imse: "For something more
     than $40 million, according to the deal, the Broncos can
     walk away from what they call the worst lease in the NFL." 
     To escape the lease, the team will buy out concessionaires
     at Mile High, pay off city bonds tied to a stadium seat tax,
     and pay 25% of the cost of street, utilities and other
     improvements related to the new stadium.  Both Mile High and
     McNichols Sports Arena will be torn down.  In return, Denver
     will sell the 80-acre Mile High site to the six-county
     stadium district for $10.  The city will get the land back
     at the end of the 25-year deal (ROCKY MOUNTAIN NEWS, 8/7).  

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Denver Broncos, Facilities, NFL

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