Global agency WME | IMG has reportedly been appointed by National Football League (NFL) franchise Denver Broncos to sell the naming rights for their home stadium, the Sports Authority Field at Mile High.
WME | IMG are believed to have beaten several major rival agencies to the appointment and it marks the California-based company’s first NFL naming rights assignment since its 2013 merger. Neither the Broncos nor WME | IMG have released an official comment as of yet.
Sports Authority acquired the stadium’s naming rights in 2011, agreeing a 25-year deal worth US$6 million per year. However, the Colorado-based retailer filed for bankruptcy in 2016 and its subsequent liquidation and closure resulted in it missing two quarterly payments.
In August, the Broncos agreed to pay stadium owner, Denver Metropolitan Football Stadium District, on a quarterly payment themselves. Nevertheless, the Sports Authority name is still being used on the stadium for the time being due to contract reasons.
The Denver Broncos have stated that they would like to sell the rights for a ten-year period.