Sports Authority is reportedly interested in assuming the naming rights agreement that Invesco has with the Denver Broncos for the team’s home field. The sporting goods company is based in Englewood, Colorado, making them a good fit, the team said.
“We believe the public will embrace this in a huge way,” said Mac Freeman, the Denver Broncos’ senior vice president of business development.
If the deal is approves during a public meeting on Tuesday, Sports Authority will pay $150 million over the next 25 years for the right to have its name on the Broncos’ stadium. Invesco is willing to move on because the company has changed its business model in recent years: Instead of selling directly to consumers, where advertising can pay dividends, the Denver-based mutual fund’s focus is now on pitching to financial advisers, where signage has less sway.
Invesco’s 20-year, $120 million deal for naming rights was set to expire in 2020. In that deal, 50 percent of revenue goes to the Metropolitan Football Stadium District and 50 percent goes to the Broncos — a scenario that would be retained in the proposed deal with Sports Authority.
So, Sports Authority at Mile High — a slightly better name than Invesco Field at Mile High. Slightly.