The Denver Broncos have more uncertainty on their hands than just the QB controversy. They don’t know what their field will be called next season. The team currently plays at “Sports Authority Field at Mile High,” but the stadium’s sponsor is closing all of their locations this summer after going bankrupt.
Sports Authority allegedly failed to make quarterly payments to the team, which is a breach of contract. The retailer is apparently looking to sell off the naming rights to another sponsor as part of their bankruptcy auction. The Broncos are trying block this because if this were to happen, they would have no say in the name of their own stadium. Quite the interesting situation.
“Yet, because of the protections afforded by the bankruptcy code, (Sports Authority) continues to enjoy exclusive sponsorship rights as provided for in the sponsorship agreement despite its failure to make two quarterly payments totaling $2,105,945.00,” the Broncos said in the filing.
The motion is the latest move by the Broncos and the Metropolitan Football Stadium District to keep Sports Authority from selling or auctioning contracts related to the team and Mile High Stadium. The retailer has a separate naming-rights contract with the stadium district.
H/T: Denver Post