The Colorado Department of Transportation and the Denver Broncos have agreed on a $45.8 million purchase price for the 58.5-acre Burnham Yard site, the future home of the team’s new stadium.
The deal is set to close by May 15, according to the Colorado Transportation Investment Office, and reported by the Denver Business Journal’s Catie Cheshire. The Broncos are also acquiring additional parcels surrounding the main site.
The purchase price is notably less than the $50 million the state paid Union Pacific Railroad for the property in 2021. However, extensive environmental cleanup of the former industrial site will be required before construction can begin.
“I’m thrilled that we have reached an agreement to move forward with the sale of Burnham Yards to the Denver Broncos,” Colorado Gov. Jared Polis said in a statement to the Denver Business Journal. “This sale supports not just keeping the Broncos in Denver, but also repays the state and unlocks billions of dollars of investment into this blighted historic area.”
Speculation about the Broncos relocating to Burnham Yard has circulated for years, with reports intensifying last summer. The team officially announced the downtown location as its preferred site in September.
Local leadership has broadly supported the project, and the Broncos have held multiple community events this offseason to gather public input on the new facility.
While the Broncos have pledged not to use tax dollars for stadium construction, the project will benefit from significant public infrastructure spending. The state is investing in relocating freight rail lines and rebuilding bridges in the area, and CDOT could consider changes to the Interstate 25 and Highway 6 interchange.
The city has already committed $140 million — approved by voters — to improve the Sixth and Eighth Avenue viaducts near the site.
The team may pursue additional tax-increment financing or other development subsidies, though no specific requests have been made public.
The full development will span 150 acres between Sixth and 13th avenues, with biggest portion of the land acquired through this CDOT transaction. The Broncos envision a dense, mixed-use neighborhood surrounding the stadium, which is scheduled to open for the 2031 NFL season.
The Burnham Yard agreement marks a major milestone in the Broncos’ stadium project, moving the team closer to replacing their current home at Empower Field at Mile High.