Good morning, Broncos Country!
A new Denver Broncos stadium at the historic Burnham Yard is closer and closer to reality.
Earlier this week, the Denver Business Journal reported that the state of Colorado revealed what the Broncos have agreed to pay for the state-owned site. Included in the price is when the sale should be completed.
The state and the Broncos have agreed on a $45.8 million purchase price for the 58.5 acres to house the future stadium. The deal is set to close by May 15, according to the Colorado Transportation Investment
Office (CTIO), and reported by the Denver Business Journal’s Catie Cheshire. The Broncos will also acquire additional parcels of land surrounding that main site.
As 9News pointed out, the Broncos will pay less for the land than the state paid in 2021 when the Colorado Department of Transportation, through the CTIO, bought the parcel from Union Pacific Railroad for $50 million. But, as 9News stated, the price equals the remaining principal on CTIO’s loan, according to a purchase-and-sale agreement presented to the CTIO board.
The new Broncos’ stadium is scheduled to open for the 2031 season, with the project starting in early to mid 2027. The plan calls for a state-of-the-art stadium and a destination mixed-use neighborhood. It will look like what other franchises have done, namely the Dallas Cowboys and New England Patriots, with retail and office locations, restaurants, hotels, and more.
The discussion and speculation about a new stadium ramped up a little over a year ago, with multiple sites under consideration. Though the Burnham Yard site always seemed the favored destination for the Broncos. Then, in early September, the Broncos announced the historic Burnham Yard site would be the eventual home of the new stadium.
The full development of Burnham Yard will span 150 acres between Sixth and 13th Avenues, with most of the development on the land to be purchased under this agreement. The city of Denver has also committed $140 million to improve the Sixth and Eighth Avenue viaducts near the site. This was approved by the voters.
The key points of the September announcement are that the entire endeavor will be privately funded, with taxpayers only covering the cost of the transportation infrastructure around the facility. This was one of the biggest contentious points surrounding the last stadium construction back in 2000.
Plans also include a retractable roof and a natural grass field. This will allow Denver to host the Super Bowl, the NCAA Men’s Final Four, and other major events. This will not only help the Broncos but also the city.
The new Broncos stadium is closer to becoming a reality.
