A second cannabis company has announced it wants to land the naming rights for Sports Authority Field at Mile High, home of the Denver Broncos professional football team.
Denver-based concentrates company Openvape said in a news release it has submitted a proposal to “preserve” the Mile High legacy by pursuing “OpenVAPE at Mile High” as the stadium’s official name.
The interest among cannabis companies in the naming rights underscores an attempt to find innovative forms of marketing.
Last month, one of Colorado’s largest cannabis retailers, Native Roots, said it aims to replace Sports Authority, which currently has the naming rights to the stadium but recently filed for bankruptcy and has been forced to sell its assets.
In a bankruptcy court filing, the Denver Broncos argued that Sports Authority can’t sell or transfer its Mile High Stadium naming rights or its team sponsorship without written approval, the Denver Post reported.
Openvape said its proposal to partner with the stadium’s owner – the Metropolitan Football Stadium District – makes clear the company has the money to take over the obligations of the current naming agreement. That may amount to more than $6 million annually, and any deal is expected to last until 2021, Openvape said.