The Walton-Penner Family Ownership Group announced it will be privately funding the Denver Broncos' new stadium. Economic experts are skeptical of the claim that taxpayers will not pay for the new stadium.

Denver

The Denver Broncos have unveiled plans for a new stadium, with team ownership, the governor, and the mayor stating that the facility will be privately funded and not require taxpayer money. However, some experts in sports economics remain skeptical, highlighting the need for more details about land ownership and the possibility of indirect public costs.

A University of Colorado professor noted that while the team claims private funding for both land purchase and construction, the specifics of land use agreements are not yet clear. Additionally, local taxpayers may still face costs related to infrastructure improvements near the proposed site, depending on future city bond approvals.

Broncos unveil plans for a privately funded stadium

You know, while many people are celebrating this news and what it could mean for this city, there's a lot of folks that are wondering what this could mean for taxpayers. Denver sevens. Brandon Richard is live near the site after getting answers from the some in the economics community about what the process takes to pay for a sports facility like this. Brandon. Yeah, Jessica, you know, the team ownership group, the governor and the mayor say this new stadium will be privately funded and they make it seem and make it sound like this won't cost taxpayers any money. But I spoke with an expert and he's a bit skeptical of those claims. It's our goal to have world class facilities for this team and for our fans. I listen for very specific words when I'm hearing any lawmaker or any team owner or league official or whomever talk about new facilities. University of colorado professor Jeffrey profiter is a self identified sports fan and an economics and public finance expert who has done a ton of research into how sports arenas and stadiums across the country are financed. I collect data on things like leases and lawmaker voting and subsidies and things of that nature. And I've been doing that now for a couple decades. When it comes to the new Denver bronco stadium, he'd like to see more details. He says, while the official announcement says the team ownership group will privately fund the purchase of the land and pay for the construction, there's still a big unknown. The press release suggests the plan is for the team to own the land, but I'm not going to believe that until I see the actual land use agreements, he says. If it's like Sofi Stadium in Los Angeles in which the team owners do own the stadium and the land, it's a win for taxpayers. If it turns out to be like that, then there would still be public costs involved in that and government involvement in that. But it would be much less, much less. But he says if the team buys the land and turns it over to an exempt entity at some point, taxpayers would be responsible for more of the cost and could lose out on tax revenue as that money would go back towards the upkeep of the stadium. He believes that could happen, and I suspect it will be similar to a ball arena situation where Dura the Denver Urban Renewal Authority will ultimately have ownership of land and they're not going to have ownership of the stadium. And here's the thing. Denver taxpayers could pay around $140 million in road improvement projects near here on 6th and 8th Avenues. That's if they approve the vibrant Denver bond package this fall. Now, the city says that these road improvement projects they needed to be made anyway. But one city official acknowledged the timing and said, You, of course, cannot ignore the Broncos and Denver Brandon Richard Denver seven.

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