Temporary signs go up on Broncos Stadium at Mile High

DENVER — The Broncos put up temporary signs on their home stadium on Monday.

The temporary Broncos Stadium at Mile High banner was placed on the south side of the stadium just weeks after the Metropolitan Football Stadium District board approved the name change.

Additional signs are expected to go up on the stadium soon.

Sports Authority had its name on the stadium even after going bankrupt in March 2016 and closing all of its stores.

In January, Broncos president and CEO Joe Ellis said the signage will finally come down and crews began the process a week later. Sports Authority signs remain visible from the air.

Sports Authority took over naming rights of the stadium in 2011. When it went bankrupt, it tried to sell the naming rights, but no new company came forward to put its logo on the home of the Broncos.

Sports Authority had five years left on its contract that was worth $19.2 million. When it failed to make a $3.6 million payment in August 2016, the former sporting goods retailer was in breach of its contract.

Sports Authority tried to market the contract. Several companies expressed interest, but no cash bid for the contract was received.

In August 2016, the Broncos emerged as the highest bidder to assume the contract for naming rights to the stadium. The U.S. Bankruptcy Court granted the team the naming rights in November 2016.

The Broncos have struggled to find a company to pay millions of dollars to puts its name on the stadium.

The money from naming rights goes to repairs, renovations and upkeep of the stadium, which opened in 2001.

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