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- Broncos target complete date of 2031 for new retractable roof stadium
- Project could cost more than US$4bn
- Bears CEO Kevin Warren reiterates intention for team to relocate to Chicago suburb
The National Football League’s (NFL) Denver Broncos have announced Burnham Yard as the preferred site for their new privately funded, multibillion-dollar stadium project.
The Broncos plan to build a retractable roof stadium on the abandoned former railyard, anchoring a mixed-use district spanning more than 100 acres that would serve as a year-round sports and entertainment destination.
The franchise has conceptual agreements to purchase the 58-acre Burnham Yard site and an additional 25 acres from Denver Water. Private real estate acquisitions will comprise the remainder of the preferred site.
Both the stadium and mixed-use district will be funded through a private investment from the Walton-Penner Family Ownership Group, while the city and state will provide public improvements designed to benefit the community year-round with no new taxes.
The targeted completion date for the new stadium is the 2031 season, which aligns with the expiration of the Broncos’ current lease at Empower Field at Mile High. The Broncos, which have played at the stadium since it opened in 2001, have the option to extend the lease if needed.
The new venue plans to showcase new technology and modern amenities to elevate the fan experience, as well as attract other major events throughout the year like the Super Bowl.
The Broncos remain in the preliminary stages of the stadium design process and plan to share initial renderings in the near future.
The mixed-use district, meanwhile, is expected to have millions of square feet available for development and will feature restaurants, retail outlets, hotel and housing options, office spaces, entertainment venues, and various public spaces.
A full cost for the project has not yet been disclosed, but it could reportedly exceed US$4 billion.
If a new stadium is built and the current lease is closed, the Empower Field at Mile High land will revert to city ownership.
The Walton-Penner Family Ownership Group has been exploring stadium options since acquiring the Broncos for US$4.65 billion in 2022. Following fan feedback, a new stadium with a retractable roof in a near-downtown location was deemed the most popular proposal.
“It’s our goal to have world-class facilities for this team and for our fans, obviously, with the rich tradition and history at Mile High, and find something that the fans would love as a site that had proximity to that and Denver,” said Denver Broncos owner and chief executive Greg Penner said. “We couldn’t be more excited about Burnham Yard as the preferred site to build a new stadium and an incredible year-round destination.
“We’ve got to roll up our sleeves and get to work. We think it’s really important to have an open and transparent process as we go through the next couple of years of planning. We’ll get lots of input from others in the community, and we’re looking forward to that.”
The Broncos’ plans are the latest major NFL stadium update this week after Chicago Bears president and chief executive Kevin Warren wrote a letter to fans confirming the team intends to build a new stadium at Arlington Heights, Illinois.
The Chicago suburb is about 25 miles northwest of Soldier Field, the Bears’ permanent home since 1971 and oldest stadium in the NFL. Only the Green Bay Packers, who have played at Lambeau Field since 1957, have spent longer in one home stadium.
‘We are at a pivotal juncture of the Chicago Bears franchise to build a new stadium, our future home in Arlington Heights, which will require zero state money for construction,’ wrote Warren. ‘This is the year to finalise our stadium plans so we can officially bid to host a Super Bowl as soon as 2031. This is the moment to begin moving toward that future, and we want you with us.’
The letter continued: ‘Moving outside of the city of Chicago is not a decision we reached easily. This project does not represent us leaving, it represents us expanding.
‘The Bears draw fans from all over Illinois, and over 50 per cent of our season-ticket holders live within 25 miles of the Arlington Heights site. The project provides us the opportunity to build a stadium and mixed-use development that will benefit our fans, our region, and our future together.’
Warren added that the development will create more than 56,000 construction jobs, and 9,000 permanent jobs. The Bears are also forecasting US$10 billion in economic impact attributed to statewide construction, and US$256 million in annual statewide new business and tourism impact.
The Bears’ stadium saga began in 2021 when the franchise entered a purchase agreement to buy the 326-acre Arlington International Racecourse property for US$197 million.
That sale officially closed in early 2023 but the Bears then unveiled plans for a domed stadium in the city of Chicago the following year, before refocusing their attention on the Arlington Heights project this year.
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