Broncos File Motion to End Stadium Sponsorship Agreement with Sports Authority

The Denver Broncos reportedly “filed a motion to end their sponsorship agreement with Sports Authority,” per Allison Sylte of KUSA 9News in Denver.

Sylte wrote that 9News obtained court documents on Tuesday that said Sports Authority didn’t pay its previous two quarterly payments that were necessary to keep naming rights at Sports Authority Field at Mile High.

Each payment totaled $1,052,972.50.

According to Sylte, Sports Authority filed for Chapter 11 bankruptcy protection in March. 

The Broncos' motion acknowledged the filing: “Because of the protections afforded under 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 motion was filed in Delaware’s U.S. Bankruptcy Court.

Mark Harden of the Denver Business Journal reported on May 18 that Sports Authority will close its 450 stores because it couldn’t settle on a reorganization plan with creditors and lenders or find a bidder to buy the remaining stores.

Sylte said the Broncos want to have control of Mile High Stadium’s naming rights, although two marijuana companies already announced their desire to obtain the rights (at $6 million per year).

While the battle for stadium naming rights is making headlines, the Broncos are also going through a transitional period on the field after winning last season’s Super Bowl.

Quarterback Peyton Manning retired, and quarterback Brock Osweiler joined the Houston Texans in free agency. Key defensive members in linebacker Danny Trevathan (Chicago Bears) and defensive end Malik Jackson (Jacksonville Jaguars) left in free agency as well.

Lindsay H. Jones of USA Today wrote there is a quarterback battle between rookie Paxton Lynch, Mark Sanchez and Trevor Siemian as mandatory minicamp approaches.