![]() 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. Part of the agreement stipulated that the MFSD would collect half of the 10 year, $120 million naming rights deal with Invesco Funds Group. 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. The extension of the original stadium tax came into effect on January 1, 2001. The MFSD is also responsible for implementing the MFSD tax. 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”. Financing and construction for the stadium was monitored by the Metropolitan Football Stadium District (MFSD). This tax was originally established in 1990 when the Colorado Rockies sought public financing for Coors Field. 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. The referendum was included on the ballots of six Colorado counties that comprise the Denver Metropolitan area. 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. Members of the state legislature claimed that this was one of the largest lobbying efforts they had seen. SB 171 was sponsored by Representative Doug Dean (R) from Colorado Springs. This effort was directed at the passing of SB 171 which put Referendum 4A on the November 1998 ballot. The Broncos' pursuit of the new stadium included a lobbying effort that included 13 lawyers and tens of thousands of dollars. The fire was caused by sparks from a welding torch. On March 24, 2022, a fire broke out that damaged some suites and many seats on the third level. Given the difficulty of competing at altitude, as well as the notoriously loud fans, the Broncos are known to have one of the best home field advantages in the NFL. The stadium is nicknamed Mile High due to not only its predecessor, but due to the city's elevation of 1 mile or 5,280 feet (1,610 m) above sea level. It has also played host to countless concerts and served as the venue for Barack Obama's acceptance of the Democratic presidential nomination at the 2008 Democratic National Convention. The venue was previously home of the Denver Outlaws lacrosse team and the Colorado Rapids soccer team. It opened in 2001 to replace the Broncos' original home, the old Mile High Stadium. Its primary tenant is the Denver Broncos of the National Football League (NFL). Empower Field at Mile High (previously known as Broncos Stadium at Mile High, Invesco Field at Mile High, and Sports Authority Field at Mile High, and commonly known as Mile High, New Mile High, or Mile High Stadium) is an American football stadium in Denver, Colorado, United States.
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