Denver Broncos get court permission to cut ties with Sports Authority
The Denver Broncos can ask for Sports Authority to stop using the team’s trademarked logo, a U.S. Bankruptcy judge ruled Friday.
The Denver Broncos can ask for Sports Authority to stop using the team’s trademarked logo on signs, advertising and the company’s website, a U.S. Bankruptcy judge ruled Friday.
Judge Mary F. Walrath granted the Broncos’ motion to terminate its 2011 sponsorship with Englewood-based Sports Authority, the Denver Post reports. The retailer is still working to sell the naming rights to Mile High Stadium.
Sports Authority’s sponsorship contract with the Broncos was valued at $55 million and was set to expire in 2035. In exchange for quarterly payments, the retailer could use the Broncos’ logo in marketing materials and receive perks such as box seats and Super Bowl tickets.
Sports Authority reportedly owed the Broncos $36 million through 2035. The company filed for chapter 11 bankruptcy in March.
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