DENVER -- The Denver Broncos now own the naming rights to Mile High Stadium.
The judge overseeing Sports Authority's bankruptcy approved the request by the Denver Broncos to assume the naming rights.
In a corrected court order issued on Tuesday, the judge wrote: "Effective as of August 18, 2016, the Debtors (Sports Authority) are authorized to assume and assign the Naming Rights Contract to the Broncos…"
"Except to the extent otherwise agreed in writing by the [Metropolitan Football Stadium District], the Broncos shall pay to the MFSD the payment of $3,601,890 that was due to the MFSD on August 1, 2016…"
Sports Authority missed its $3.6 million Aug. 1 payment, but the contract required the MFSD to allow 30 days for the company to pay. The bankrupt company's estate must pay the Broncos $50,000 to be free and clear of all naming rights debts.
An order late last week, mistakenly gave the naming rights to the stadium district. The order posted Tuesday corrected that to show that the Broncos own the naming rights.
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