No Bids Yet For Broncos Stadium Naming Rights, Deadline Extended Again

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By Mark Ackerman

DENVER (CBS4) – No bidders have stepped forward yet in a bankruptcy court auction for the naming rights for Sports Authority Field at Mile High.

The company hired to auction off the naming rights, Hilco Streambank, has extended the deadline for bids yet again to Monday at 9:59 p.m.

A successful bid would secure naming rights for the home of the Broncos through the 2020/2021 season. The Hilco Streambank website says because the naming rights contract dates back to Invesco in 2001, the contract would be far below current market rates -- an annual value of $3 million.

(credit: Hilco Streambank)

More recent naming rights deals (New York Met Life $20M, Dallas AT&T $19M, San Francisco $11M and New Orleans Mercedes Benz $11M) are valued at more than $10 million per year.

LINK: hilcostreambank.com/assets/sports-authority-stadium-naming-rights

A spokesperson for The Metropolitan Football Stadium District explained Sports Authority is current with its annual naming rights payments. The next payment is due Aug. 1 and it wouldn't be able to take action until 30 days after that date if the payment is missed.

The MFSD has asked the court for the right to challenge a bidder if it deems a challenge necessary.

Mark Ackerman is a Special Projects Producer at CBS4. Follow him on Twitter @ackermanmark