Mile High marquee still up for grabs

Sports Authority still hasn’t found anybody to take its place on Mile High Stadium, Reuters reported late Friday.

The struggling Englewood-based retailer didn’t attract any bids during its auction for the stadium naming rights that ended June 27. Discussions are underway about launching a new auction for the naming rights, according to Reuters.

Any deal would need to get approval from a U.S. bankruptcy court judge because Sports Authority filed for bankruptcy in March.

The owner of the stadium, Metropolitan Football Stadium District, has asked the court for the right to object to brands it doesn’t think will be a good fit for Mile High.

The district can’t start its own search for somebody new to take over for Sports Authority until August after Sports Authority presumably misses its payment for the stadium naming rights.

In 2011, the district approved Sports Authority to take over the naming rights contract of Mile High football stadium from Invesco Funds Group.

Sports Authority agreed to pay $32 million to take over 10 years of Invesco’s 20-year, $120-million contract.

Business & data reporter Adrian D. Garcia can be reached via email at agarcia@denverite.com or twitter.com/adriandgarcia.

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