State reveals purchase price for Denver Broncos stadium site, deal closing deadline
A new Denver Broncos stadium at Burnham Yard in the heart of Denver has been the most talked-about project in the city for months, and now the state has revealed what the NFL team has agreed to pay for the site and when the deal should close. The Broncos will pay less for the land than the state paid in 2021 when the Colorado Department of Transportation, through the Colorado Transportation Investment Office, bought the parcel from Union Pacific Railroad for $50 million.
9NEWS A new Denver Broncos stadium at Burnham Yard in the heart of Denver has been the most talked-about project in the city for months, and now the state has revealed what the NFL team has agreed to pay for the site and when the deal should close. The football franchise and the state entity that owns the 58. 5 acres where the stadium would be built recently negotiated a sale agreement with a $45.
8 million purchase price. The Broncos will pay less for the land than the state paid in 2021 when the Colorado Department of Transportation, through the Colorado Transportation Investment Office, bought the parcel from Union Pacific Railroad for $50 million. However, the price is equal to the remaining principal on CTIO's loan, according to a purchase and sale agreement presented to the CTIO board.
"I’m thrilled that we have reached an agreement to move forward with the sale of Burnham Yards to the Denver Broncos. This sale supports not just keeping the Broncos in Denver, but also repays the state and unlocks billions of dollars of investment into this blighted historic area," Colorado Gov. Jared Polis said in a statement to the Denver Business Journal.
> Read more at the Denver Business Journal