DENVER — The Denver Broncos have finalized a $45.8 million purchase agreement with the state of Colorado for Burnham Yard, a 58-acre former rail yard in Denver, as the preferred site for a new retractable-roof stadium and mixed-use entertainment district. Construction is expected to begin in 2027, with a targeted stadium opening in spring 2031.
The purchase price of $45,810,000 equals the remaining balance on the state’s loan for the property. The Broncos were required to wire the full amount into escrow by May 15, and the state has since received the payment. The buyer listed in the agreement is AZURE RE ACQ, LLC, a Delaware limited liability company affiliated with the Broncos Football Team, LLC.
Under the terms of the agreement, the state cannot sell any portion of Burnham Yard or transfer rights to another party. The deal includes a purchase option that prohibits the state from entertaining other buyers. The Broncos still need to finalize agreements for land currently owned by Denver Water to assemble the full stadium footprint.
“We are pleased to finalize a formal agreement with CDOT to purchase the Burnham Yard site with a closing expected this fall. As this remains the preferred site, we remain optimistic that our collaboration with the city, state, and community will keep everything on track for 2031,” Broncos Chief Communications Officer Patrick Smyth said.
The Broncos’ broader vision for the area encompasses approximately 150 acres. Several LLCs tied to the team have already spent more than $120 million acquiring surrounding properties near Burnham Yard. The team has stated the project will be privately funded with no new taxes, though it may pursue tax-increment financing and has not ruled out using personal seat licenses—fees fans pay for the right to purchase season tickets—to help finance construction. Twenty-two of the 32 NFL teams have used such licenses for stadium projects.
The city of Denver has committed $140 million to improve road viaducts in the area. City officials say those improvements were needed regardless of the stadium project. The Broncos must also agree to a Community Benefits Agreement with the city as part of the development.