DENVER (CelebrityAccess) — The NFL team The Denver Broncos announced they have struck a sponsorship deal with Empower Retirement that will see their home stadium renamed to “Empower Field at Mile High.”
The naming rights deal, which took three years to fully conclude, was announced at the stadium on Thursday night as Empower Retirement was announced as the naming rights partner for the stadium for the next 21 years.
Empower has been a partner of the Broncos since 2015, and though a naming-rights deal didn’t initially materialize, Empower President & CEO Murphy said negotiations eventually “got to the right place.”
“It took a lot of hard work in a short period of time,” Broncos President & CEO Joe Ellis said Thursday. “[Until] you sign a piece of paper, you never know. But I was confident we would get to this point and very, very pleased that we have done just that.”
While the team did not disclose the financial details of the deal, the Associated Press reported that it was similar to the team’s previous naming rights deal, worth roughly $6 million a year.
“The district deal will become public and it will reveal what their naming rights agreement calls for in terms of revenues delivered to them. Ours is different. Ours is private,” Ellis said. “But, look, it’s a significant investment over a 21-year period that’s going to significantly help us in maintaining and improving this stadium over the long life of the contract.”
The stadium, which opened in 2001, was known as Invesco Field at Mile High and Sports Authority Field at Mile High but has been just Mile High Stadium since Sports Authority signage was removed in 2016 following that company’s liquidation.
“The Broncos have enjoyed many special moments inside this stadium,” Ellis said. “There have been three AFC Championship games, moments in postseason games that we all remember, moments in regular-season games that we all remember. We’ve had the most prime-time games in the National Football League. But this venue is not just a top-notch football stadium, it’s a major entertainment attraction that has hosted countless major concerts, international sporting events and festivals. In fact, we’re coming off a record-setting offseason with nearly 200 events and more than 300,000 guests from January to July. The best, however, is yet to come.”