Clock ticks down for Sports Authority to find Mile High replacement

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The sun sets over Sports Authority Field. (Kevin J. Beaty/Denverite)

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The sun sets over Sports Authority Field. (Kevin J. Beaty/Denverite)

Sports Authority’s latest attempt to unload its naming rights for Mile High Stadium once again proved unsuccessful.

The struggling Englewood-based retailer is facing two deadlines that could potentially make the rights harder to sell.

On Aug. 1, Sports Authority is scheduled to pay $3.6 million to the Metropolitan Football Stadium District for the naming rights contract. On Aug. 20, the Denver Broncos hold their first preseason home game at Mile High.

If Sports Authority misses the payment, like it has done with other sponsorship dues, the stadium district and Denver Broncos can take over the naming rights in September and find their own buyer.

The company is looking for someone to take over the final five football seasons of the Mile High naming contract. Offering amounts could be less than desired if the season starts before the rights are sold.

Sports Authority has been working with Massachusetts-based Hilco Streambank to find its Mile High replacement.

Hilco asked for bids on the naming rights from last Wednesday through this Monday. But the deadline passed and the fate of Mile High’s marque is still to be determined.

“We actually received several indications of interest and are still in discussions with the potential bidders,” Hilco Streambank executive vice president Jack Hazan said in an email Tuesday morning.

Sports Authority filed for bankruptcy in March and reportedly plans to close most or all its stores before the end of the month.

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

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