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DENVER (KDVR) — With a new owner on the horizon for the organization, Denver Broncos President and CEO Joe Ellis spoke to the plans surrounding Empower Field at Mile High during the annual National Football League owner’s meeting Monday.

Brandon Krisztal with our news partners at KOA Radio caught up with Ellis as he addressed local Denver media.

After an accidental fire destroyed hundreds of seats and damaged suites at Empower Field last week, Ellis was asked about the future of Mile High and the organization’s goals for the area with new ownership leading the way.

“At a high level, it will be the number one decision the new owner will have to make, which is ‘how are we gonna proceed long term when it comes to the stadium?'” Ellis said. “I will tell you this, there is a tremendous real estate opportunity at the south end of the stadium which has a master plan that was at one point approved by the city to move forward and do a significant mixed development of office, retail, housing, possibly a hotel, maybe a small entertainment venue stuff, things along those lines that can really bring some vibrancy to that area.”

Ellis described the future of the stadium as the “big picture issue number one” for new ownership.

“I believe the stadium is in good shape,” Ellis said. “We believe there are some significant upgrades that need to be done and can be done to improve it, to keep up with many of the others around the league.”