Sports Authority hopes to sell off its naming rights to the stadium, but the Broncos and officials appointed to run the taxpayer-built stadium are fighting that in bankruptcy court.
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Sports Authority has five years left on its contract worth $19.2 million.
Whoever takes the offer will have their name on the stadium through 2020. He did say the bank would not accept bids from those in the pornography, tobacco, gambling or marijuana-related businesses.
After failing to garner a single bid by last Tuesday’s deadline, bidding was extended to 11:59 p.m. ET Monday.
The problem is, though, that no one is interested in putting their name on the stadium. More recent deals by the Cowboys, Giants and Jets netted $400-450 million over 20-25 years. Englewood-based Sports Authority declared bankruptcy in March, which put a large question mark over how much longer the retailer’s name would remain on Mile High, the Denver Broncos home field. At that point, the Metropolitan Football District, which owns the stadium, can tear up the existing contract and start over.
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The district said it relies on the revenue from naming rights to help pay for stadium upkeep.
