Broncos Ownership Addresses Stadium Situation

Getty Broncos CEO Greg Penner speaking.

Today was a historic day at UC Health Training Center. The newest ownership group was introduced to the local media as the official owners of the Denver Broncos.

Each member of the ownership group got up to the podium to say a few words. Controlling owner Rob Walton went ahead and announced that Greg Penner will be the CEO of the Denver franchise.

Penner then got up and answered questions and was finally asked about the potential of building a new stadium.

“We really don’t have a view on that yet. It is early, we just closed today.” Penner added, “At this point Empower Field at Mile High is a terrific facility. It’s hosted world class sporting and entertainment events. We got a partnership with the stadium district and with 10-years left on our lease, we’ve got some time to go out and see what the different options are, consider everything and then make a decision.”

The current stadium broke ground in August of 1999 and was then opened in August of 2001. Since then, the stadium has held not only home games for the Broncos, but has also held legendary concerts from the Eagles and U2 to Garth Brooks and The Rolling Stones.

Building a new stadium has been a topic that has been brought up for years in Denver after what we’ve seen from the newest stadiums in Dallas, Atlanta, Las Vegas, and even in Los Angeles.

Where Would The Stadium Go?

There have been rumors and speculation that a new stadium could go out by Denver International Airport, just about 35 min east of where the current stadium is at now.

With a ton of land out east, the Broncos would have plenty of room to not only build a stadium, but build a small little town around there as well. Just like “Jerry World” in Dallas.

There could be hotels, restaurants, bars etc.

There’s also plenty of land just north of Thornton right up I25. With new developments improving up in that part of town, the Broncos could look to add to that location as well.

Update on Russell’s New Contract

Russell Wilson’s contract will be up after the 2023 season, but with the price that the current quarterbacks are getting paid, some have thought it might be better to go ahead and get a long-term deal done sooner than later.

When Penner was asked today about getting a new deal done with Wilson, Penner said, “At this point, nothing to say about his contract.”

The newly acquired quarterback will have a $24 million cap hit this season and it will jump up to $27 million next season.

With the top seven quarterbacks signing their newest deals, each gun-slinger is making at least $126 million guaranteed. Most recently Kyler Murray signed a five-year deal worth $230 million with $160 million guaranteed.

Deshaun Watson on the other hand, signed a 5-year $230 million contract fully guaranteed with the Cleveland Browns.

The Broncos are going to have to pay Wilson somewhere between those two contracts when their talks intensify. Right now, it’s unclear if Wilson will be difficult during his negotiations and if he wants to be the highest paid quarterback in the NFL.

As of right now, the new ownership group has the money to spend and they will get a deal done with Wilson, it’s just a matter of when and how much.