Denver Broncos preparing to cut ties with Sports Authority
The Broncos have taken an important step in severing their relationship with bankrupt sports retailer Sports Authority.Ben Roethlisberger Jersey.
The U.Andy Dalton Jersey.S.Patrick Peterson Jersey. Bankruptcy Court gave the Broncos the go-ahead to end their sponsorship deal with Sports Authority on Friday,Aqib Talib Jersey, The Denver Post reports.Dez Bryant Jersey. The contract allowed Sports Authority to use the Broncos' logo and made them the team's official sporting goods store.Jason Pierre-Paul Jersey.
That deal had a total value of $55.Jordy Nelson Jersey.3 million and ended in 2035,Greg Olsen Jersey, The Post says.Jimmy Garoppolo Jersey. Most of the money on that contract was outstanding,Kam Chancellor Jersey, as the Colorado-based company owed the NFL franchise $36 million (the agreement was signed in 2011).
It's important to note this is unrelated to the naming-rights contract between the Broncos and Sports Authority. The sports retailer plans to auction off those naming rights, so the stadium will not be called Sports Authority Field at Mile High much longer, but that's a separate issue.
Other sporting goods chains are reportedly interested in taking over old Sports Authority stores. Most locations are expected to shut their doors for good soon, after the final going-out-of-business sales. It's been a steep fall for the retailer since it filed for Chapter 11 bankruptcy in March.