Broncos buying up land at potential stadium location
Meanwhile, as the front office explores potential options, the team has been buying up land for a potential stadium site. The team has purchased $146 million worth of properties around Burnham Yard since September, according to a report from Justin Wingerter of BusinessDen.
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That site is about a move southeast of the team's current stadium, which the Broncos lease from the city. That lease runs through 2031. In a statement to BusinessDen, the team repeated its stance about considering all options.
'As we've previously shared, we are involved in a comprehensive process regarding the future of our stadium,' the team told BusinessDen. 'No determinations have been made as we continue to evaluate several options in and around the Denver metro area.'
If the Broncos do build a new stadium (at Burnham Yard or elsewhere), the team's chances of hosting major events like the Super Bowl will increase dramatically. The team has repeatedly said nothing has been determined yet, but there has been heavy speculation that the club will ultimately decide to build a new stadium.
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Denver's NFL franchise is owned by the Walter-Penner family, with Greg Penner the controlling owner. They purchased the club in 2022 for $4.65 billion. The Broncos are currently working on major renovations at their training facility, and the ownership group has already spent more than $100 million on upgrades to Empower Field at Mile High.
The ownership group has not been afraid to splash money to upgrade the team's facilities. Perhaps a new stadium is next on the to-do list.
Related: These 25 celebrities are Broncos fans.
This article originally appeared on Broncos Wire: NFL news: Broncos buying up land at potential stadium location
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