Broncos' Ellis: Team "Working Hard" To Secure New Stadium Naming-Rights Partner
The Broncos continue to seek a stadium naming-rights partner, and President & CEO Joe Ellis said there is a "sense of urgency" as the team continues "working hard to get the right company in at the right deal," according to Nicki Jhabvala of the DENVER POST. Ellis said, "We've got big obligations to try and sustain and maintain and improve the stadium, and the naming rights component is a key component in terms of funding." He added, "We feel we're moving closer, but we don't believe we're to the point where we can get start to get excited. We're still talking to a lot of people. But I'm optimistic." Jhabvala noted the Broncos last August "severed their sponsorship agreement with Sports Authority" that was valued at $55.3M, and they "assumed the rest of Metropolitan Football Stadium District's naming rights contract with the company." The now-bankrupt Sports Authority owed nearly $20M "over the last five years" of its deal. The Broncos assumed the rest of the contract to "gain control over the process of finding a new sponsor," and last year employed WME-IMG to "secure a new naming rights partner." Meanwhile, Sports Authority branding "remains plastered to the stadium to avoid a temporary name change and additional expenses in removing the signage." The team also has "moved forward with plans for a proposed entertainment district around the stadium." Ellis: "It's a mixed-use proposal of retail and housing of all different varieties as well as maybe office and hotel. There are a lot of different components that go into the concept, some park space we might be able to utilize for events outside the building, things along those lines. It's still in the conceptual phase, but I think you'll start to hear more and more about it in the next 12 months" (DENVER POST, 9/10).