Are the Denver Broncos moving and getting a new stadium?

A massive change is coming to the Mile High City.

The Denver Broncos have officially announced plans for a new stadium, including their preferred site.

Months of speculation about whether the storied franchise could be on the move can finally be put to rest—it’s true.

No, the Broncos aren’t leaving Denver—they never were. Instead, they’ve found a site for a new stadium at Burnham Yard in downtown Denver.

The Broncos, along with Mayor Mike Johnston and Colorado Gov. Jared Polis, announced plans for a privately funded new stadium with a retractable roof at Burnham Yard, a 58-acre abandoned railyard.

“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,” Owner & CEO 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.”

Burnham Yard is a downtown railyard that predates Colorado statehood. It was a major economic hub for Denver for nearly 150 years before ceasing all operations in 2016. It was sold to the state of Colorado in 2021.

The Broncos have tentative agreements to buy 58 acres at Burnham Yard from the state and an additional 25 acres from Denver Water. The rest of the site will be secured through private real estate purchases.

“Today is a remarkable win-win-win for Denver,” Mayor Mike Johnston said. “The Broncos are staying in Denver, we will finally open up the historic Burnham Yard neighborhood for development, and we get to reimagine the Mile High Stadium site as a thriving community in West Denver.

“The Walton-Penner Ownership Group’s private investment into building a world-class stadium in the heart of Denver will open up new possibilities – not just for Burnham Yard – but across the city.

Getty

Getty

“This is one of the longest running city-NFL franchise partnerships. I grew up as a kid watching Broncos games and coming to the Broncos’ stadium, and to know that there will be another two generations of kids who will grow up being able to walk down the street in Denver and see their favorite football team will be an amazing gift for the city for generations to come.”

Colorado Gov. Jared Polis gave his thoughts as well.

“The Broncos are very much part of our identity as a state and, of course, the city of Denver,” Polis said.

“And I couldn’t be more thrilled that the city of Denver and state of Colorado are going to work with the Broncos to ensure that the Denver Broncos will be here in style for another generation.”

The Broncos’ current home, Empower Field at Mile High, opened in 2001, replacing the original Mile High Stadium. It cost just over $400 million at the time, while the new stadium planned at Burnham Yard is projected to cost several billion dollars.

The plans include building a thriving community around the stadium, and not just sticking it in the middle of a parking lot.

“This stadium is the next big investment for us,” Penner said. “And it’s going to be, we think, a central piece of our experience for the fans over the next 50, 60 years.”

The new stadium is set for completion in time for the 2031 season, coinciding with the expiration of the Broncos’ current lease at Empower Field. The team also has the option to extend the lease if necessary.