Denver Broncos Seemingly Spend $142 Million on New Land

The Denver Broncos could be galloping into a new home after a string of land purchases just south of downtown.

Limited liability corporations believed to be linked to the three-time Super Bowl champions have been buying up parcels of land near Burnham Yard at 800 Seminole Road, BusinessDen reported. The LLCs, most of which are connected to the Broncos’ Walton-Penner Ownership Group, have so far bought 13 parcels of land surrounding the train yard for $153 million.

Questions have been swirling about the future of the Broncos’ home since 2022 when members of Walmart’s billionaire Walton family bought the Broncos for nearly $4.7 billion. The team’s lease at Empower Field at Mile High, about a mile northwest on the other side of I-25, expires in 2031.

The Walton-linked land purchases began last fall, according to BusinessDen. Speculation around a possible new Broncos stadium kicked into high gear at the Super Bowl in February when Broncos President Damani Leech told Front Office Sports that the clock was ticking on making a decision whether to stay at Empower Field or build a new stadium in time for the 2031 season.

“We don’t [have a lot of time], actually,” Leech said. “It takes four years to build. You start to back that up, and we feel like, pretty soon, we need to figure out what we’re doing.”

The parcels purchased are south of 13th Avenue, north of 4th Avenue, west of Navajo Street and east of Tejon Street, according to BusinessDen. All of those properties surround the 58-acre Burnham Yard, which the Colorado Department of Transportation bought in 2021 for $50 million.

The Broncos have remained tight-lipped on any moving plans and whether or not the purportedly associated land purchases have anything to do with a possible new venue.

“As we’ve previously shared, we are involved in a comprehensive process regarding the future of our stadium,” a team spokesperson told BusinessDen. “No determinations have been made as we continue to evaluate several options in and around the Denver metro area.”

— Chris Malone Méndez