The Denver Broncos’ Mile High stadium is in an interesting situation for a Super Bowl winning team’s home field. Sports Authority currently owns the field and has unfortunately gone bankrupt. They still owe $20 million over the next five years. Now the World Champion’s stadium is sponsor-less. The one and only bid on the stadium comes from a local marijuana dispensary called Native Roots.
“No, this is not an April Fools’ joke — we have a ton of pride in the Broncos, we’re a large corporation in Colorado just like a Coors Light or a Sports Authority,” Rhett Jordan, founding partner of Native Roots, told Denver 7 News. “We’re a cannabis company and no one had ever done anything like this in the cannabis sector.”
Denver mayor Wellington Webb wants the stadium to return to its’ roots and be called Mile High Stadium.
“The corporation didn’t build the stadium, the taxpayers in six counties built the stadium, the fans keep it going,” said Webb. When asked about how he feels about Native Roots purchasing the stadium he stated, “Locally grown, ahead of the curve I thought it was a gutsy move on their part. But my preference would still be that it would be called Mile High Stadium, so I don’t think we should be naming the stadium after a dispensary.”
They’ve officially pushed back the bidding deadline to Monday in hopes of getting more offers. Unfortunately, Sports Authority can not sell the stadium without the permission of the owners, Metropolitan Football Stadium District.
The silver lining in this for Denver is that if Sports Authority does not pay their deal and fails to sell the rights, the team would have the ability to negotiate a new naming rights deal. They could end up making much better money like many other teams in the league have had the opportunity to do.