Broncos reach formal agreement to purchase Denver's Burnham Yard site for new stadium

The Broncos have finalized the formal agreement to purchase land in Denver for their new stadium. The team says the closing on the purchase of Burnham Yard, a decommissioned railyard, is expected in the fall.

While the agreement with the Colorado Department of Transportation, the property owner, wasn't formalized until this week, the organization announced their plans last September and have been holding open houses in the community since then to show off their plan.

In addition to a brand new NFL stadium with a retractable roof at the 58 acre site just off of I-25 between 6th and 13th avenues, the plan will include spaces for shops, restaurants, entertainment venues, housing and offices. Denver Broncos president Damani Leech also said in one of the open houses that they are also planning it to be "a multi-modal transportation hub."

Broncos spokesperson Patrick Smyth said in a statement the team is "pleased to finalize a formal agreement with CDOT."

"As this remains the preferred site, we are optimistic that our collaboration with the city, state and community will keep everything on track for 2031," Smyth wrote.

The Broncos said they still have several steps to take in the process, including reaching "agreements with Denver Water and other public/private transactions."