NFL American football franchise the Denver Broncos is planning a $100m (£80.7m/€93.8m) renovation project for Empower Field at Mile High.
The news, first reported by the Sports Business Journal, will see the team’s new owners seek to finance the scheme through the NFL’s G-4 stadium loan programme. The exact plan remains unclear, but Axios Denver said it is likely to focus on refreshing the club and suites level. “It’s a pretty good little change for the stadium,” said Matthew Payne, executive director for the Denver Sports Commission.
In August, the world-record $4.65bn takeover of the Broncos was officially completed, with the new owners of the franchise setting out to assess the future of Empower Field.
The Walton-Penner Family Ownership Group was officially approved by a unanimous vote of NFL owners at a special league meeting in Minnesota. The announcement came after the Broncos in June agreed a takeover deal for the Walton-Penner family to become the new owners of the franchise.
The Broncos’ home opened in 2001 with the assistance of taxpayer funds and while it is still only two decades old it now lacks the modern amenities associated with new NFL venues such as SoFi Stadium and Allegiant Stadium.
The Broncos currently have nine years remaining on their stadium lease deal with Metropolitan Football Stadium District, the owner of Empower Field. A spokesperson for Denver Mayor, Michael Hancock, said the city is working with the Broncos on the stadium upgrades and nearby development opportunities, as authorities seek to ensure the team remains downtown.
Payne added: “I know the mayor is very supportive — as we are — of the stadium being downtown. It allows for better sporting event atmospheres in all of sports.”