NBA basketball franchise the Denver Nuggets and NHL ice hockey team Colorado Avalanche are poised to remain in the US city through 2040.

Both teams, which are owned by Kroenke Sports & Entertainment (KSE), play at Pepsi Center in Denver. KSE also owns and operates the arena and its existing agreement with the City of Denver for the two teams to compete at the venue was set to expire in 2023.

However, KSE and the City and County of Denver have now announced a “tentative agreement” for a long-term extension to this contract. The City Attorney’s office will present a proposal to City Council, which will keep the Nuggets and Avalanche in Denver through 2040.

The agreement will also need approval from the NBA and NHL. Denver Mayor, Michael Hancock, said: “Stan, Josh and the Kroenke family have been working with the city for several years to make this happen.

“We’re looking forward to a long-standing relationship with KSE, our winning teams and the leagues. With both the Avalanche and the Nuggets tearing it up in the play-offs, we’re galvanising the support of our city and our fans for the teams we love.”

Jim Martin, president and chief executive of KSE, added: “This moment is nearly five years in the making and we are proud not only of our teams’ long-standing and storied histories here in Denver, but also with the incredible relationship we have with this city, its leadership and its fans.”

Opened in October 1999, Pepsi Center holds around 19,520 fans for basketball games and 17,809 for ice hockey fixtures.

Image: Visit Denver