The Broncos' pursuit of the new stadium included a lobbying effort that included 13 lawyers and tens of thousands of dollars. This effort was directed at the passing of SB 171 which put Referendum 4A on the November 1998 ballot. SB 171 was sponsored by Representative Doug Dean (R) from Colorado Springs. Members of the state legislature claimed that this was one of the largest lobbying efforts they had seen.

In November 1998, Denver voters passed referendum 4A which was in favor of the construction of a new football stadium to replace the existing Mile High Stadium. The referendum was included on the ballots of six Colorado counties that comprise the Denver Metropolitan area. The referendum called for the extension of a tenth of a percent sales tax on transactions within the Metro area to go towards the cost of issuing a $224.9 million bond. This tax was originally established in 1990 when the Colorado Rockies sought public financing for Coors Field. Financing and construction for the stadium was monitored by the Metropolitan Football Stadium District (MFSD). The MFSD is a subdivision of the State of Colorado that, “was created for the purpose of planning, acquiring land and constructing a professional football stadium” The MFSD is also responsible for implementing the MFSD tax. The extension of the original stadium tax came into effect on January 1, 2001.

The funding deal between the Broncos and the State of Colorado called for the team to pay 25% of the estimated cost of $400 million while the state would pay the other 75% of the cost. Part of the agreement stipulated that the MFSD would collect half of the 10 year, $120 million naming rights deal with Invesco Funds Group. Upon Sports Authority’s bankruptcy, the Broncos agreed to pay the MFSD $3.6 million to assume ownership of the naming rights of the stadium.

🏟️