The Broncos yesterday announced that they will "assume the last five years of the Metropolitan Football Stadium District's naming-rights contract with Sports Authority" pending approval from the U.S. Bankruptcy Court on Aug. 31, according Tracy Cook of the DENVER POST. The contract was "offered for sale as part of the bankruptcy" of Sports Authority's liquidation process, but "no cash bidders emerged." The Broncos and the MFSD said that they are "working to find a new naming sponsor, hoping to cover" some of the $300M in stadium upkeep that the venue is expected to require over the next 30 years. They are likely "looking for a sponsor in it for more than five years." Broncos President & CEO Joe Ellis said that the stadium will "keep the 'Sports Authority Field at Mile High' name, for the time being." Ellis said the team is "going to move forward as quickly and expeditiously as we can" in finding a new partner. Cook notes the Broncos need a long-term deal to help "avoid turning to taxpayers and ticketholders to cover upkeep costs on the publicly-owned stadium" (DENVER POST, 8/4).
