Days into its bankruptcy, Sports Authority "is trying to speed through its Chapter 11 on two, highly detailed tracks: reorganize or sell by the end of April," but whether the sporting goods retailer plans to "keep, scrap, or sell the stadium naming-rights deal it assumed for Invesco Ltd. has yet to be declared," according to Alicia Wallace of the DENVER POST. Reorg Research Legal Analyst Katy Pope said that the naming-rights contract "could be transferred as part of a sale of all or parts of Sports Authority." More information about Sports Authority's direction "could come before the company's next bankruptcy court hearing, March 29." Sports Authority assumed the $120M contract vacated by Invesco in August '11, when there were "10 years left on the 20-year deal." Denver Metropolitan Football Stadium District Dir of Stadium Affairs Matt Sugar said that Sports Authority "has made its payment to the district on time and in full." The next payment of $3.6M "is due Aug. 1." If the next payment is not received, Sports Authority "would have 30 days to make good." If that deadline passes, the district "could terminate the contract" (DENVER POST, 3/8).
