Deadline passes for bids on Sports Authority’s stadium naming rights

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DENVER — The deadline has come and gone and as of Tuesday morning, there is still no bidder for the naming rights of Sports Authority Field at Mile High.

Sports Authority is trying to sell the rights as part of its ongoing bankruptcy proceedings that began in March. So far, no new company has come forward to put its logo on the home of the Super Bowl champion Broncos.

Sports Authority has five years left on its contract worth $19.2 million. Experts say the deal is probably worth about $3 million a year.

The company handling the bankruptcy for Sports Authority, Hilco Streambank, said several companies have expressed interest in putting their name on the stadium, but they are not ready to be named. But one company might be named by the end of the week.

Sports Authority is due to make a $3.5 million payment on the naming rights by Monday. If it misses that, the rights to the name will revert to the Metropolitan Football District, which controls the stadium.

The district said it relies on the revenue from naming rights to help pay for stadium upkeep.