If Sports Authority wants out, Broncos have naming rights options

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The Broncos might not have many names at quarterback, but they have plenty of options for names of the places he might play.

With stadium naming-rights holder Sports Authority in the middle of bankruptcy proceedings, there’s some uncertainty over what their home field might be called.

But thanks to winning a Super Bowl, they have plenty of people ready to step in if Sports Authority doesn’t want to continue to pay for their name on the side of the building.

“If anyone does have any anxiety about it, we have already had some unsolicited calls inquiring about this deal,” Broncos head of business development Mac Freeman said, via Alicia Wallace of the Denver Post. “This is not the worst time in the world for the state of the brand in this marketplace. I don’t know if anyone ought to be wildly concerned as far as the revenue that we count on from this deal at this point continuing on.”

Freeman said Sports Authority still “values the asset,” and may be able to hang onto the name.

“They are good partners, and we are here to see them come out of this process in good shape and continue on with us,” Freeman said. “There is a lot of stuff in these processes they are not allowed to discuss, but it is clear that they value this partnership. They are hoping that the other part of the reorg plan — more to do with stores — accomplishes what they need to accomplish.”

The Colorado-based sporting goods chain filed paperwork this month to reorganize debt under Chapter 11 bankruptcy protection. Selling about a third of its 464 stores is part of the plan. They owe the Broncos another $19.9 million to control the naming rights through 2021. The next payment of $3.6 million is due Aug. 1.

14 responses to “If Sports Authority wants out, Broncos have naming rights options

  1. If you understand how bankruptcy court works the Broncos cannot reject the agreement with sports authority as the agreement is an asset and the sale of the asset goes to the creditors

    Next time you see a clause in agreement that filing for bankruptcy is cause for termination just laugh

  2. Invesco killed the mystique of Mile High. Wish it would just go back to Mile High Stadium, but money speaks nowadays…

  3. Agree with going back to Mile High. It has futher significance with Colorado’s pot laws.

  4. If you understand how bankruptcy court works the Broncos cannot reject the agreement with sports authority as the agreement is an asset and the sale of the asset goes to the creditors

    Next time you see a clause in agreement that filing for bankruptcy is cause for termination just laugh
    ____________________________________
    Not true. The original agreement between Broncos and SA protects Denver in the event of SA’s bk or other insolvency and the asset reverts back to Denver.

  5. I agree with the other comments here … “Mile High Stadium” sounds the best, but that’s obviously missing out on that naming rights money.

    It’s funny how the naming rights work out for companies… Sports Authority might not be going bankrupt if they didn’t decide pay a huge amount for naming rights. Other companies have had the same problems. I’m a Titans fan, and Adelphia (who?) had the same problems with the Titans stadium, going bankrupt and losing the naming rights in 2002. Some companies can handle it, obviously, but those are often the companies who don’t really need it.

  6. I’m sure all those employees who lost their jobs are quite understanding of the company blowing 20 million to put their name on a stadium.

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