Sports Authority files for bankruptcy

[VonDoom]

I wonder if we're due for another stadium name change.


Big-box chain Sports Authority lost its bid to remain in the retail game without a dramatic restructuring as the company filed for Chapter 11 bankruptcy Tuesday.

The retailer — owned by Los Angeles-based private equity firm Leonard Green & Partners — said it would seek to sell or close about 140 stores, or nearly one-third of its locations, after failing to keep up with consumer trends.

Although bankruptcy often offers companies a second chance at life, Englewood, Colo.-based Sports Authority's survival is not guaranteed. The company said it would pursue either a comprehensive debt restructuring plan or a sale of all or some of its assets.

“We are taking this action so that we can continue to adapt our business to meet the changing dynamics in the retail industry,” Sports Authority CEO Michael E. Foss said in a statement. “We intend to use the Chapter 11 process to streamline and strengthen our business both operationally and financially so that we have the financial flexibility to continue to make necessary investments in our operations.”

http://www.usatoday.com/story/money/2016/03/02/sports-authority-files-chapter-11-bankruptcy/81199502/

[Davii]

Sounds like you shouldn't **** with the name "Mile High", your business will be doomed to failure.

[LTC Pain]

Get their damn name off of "Mile High Stadium"!!!

[NightTerror218]

I heard they are retaining them because they have always paid the bill

[Dapper Dan]

Sounds like you shouldn't **** with the name "Mile High", your business will be doomed to failure.

Hmm. I'd say put Trump on there but then the Broncos would be bankrupt and he would get away unhurt.

[The Glue Factory]

Pity that Gart Brothers sold out to Sports Authority. I always loved the annual Sniagrab in fall.


In retrospect Gart may have seen the handwriting on the wall with the advent of eCommerce on the interwebs and got out of physical retailing business while the getting was good.

[DenBronx]

Look....we won a SB with that name on it so it might be good luck!

[OrangeHoof]

Get ready for King Soopers Field at Mile High Stadium...

[The Glue Factory]

Get ready for King Soopers Field at Mile High Stadium...

I doubt it. King Soopers is owned by Kroger which is based in Cincinnati.

[BroncoJoe]

Here's a list of companies HQ'd in Colorado. There are a lot of interesting play on words available!

http://www.ranker.com/list/companies-headquartered-in-colorado/the-working-man?utm_expid=16418821-179.pGCXY4nOQBOxMAZDH8jsWw.0&utm_referrer=https%3A%2F%2Fwww.google.com%2F

[DenBronx]

So that Bengals fan King that posts on here is named after.....Krogers??? The grocery store???

Bwaaahahahaha

[VonDoom]

This was inevitable ...


The Denver Broncos currently play at Sports Authority Field at Mile High, but when Sports Authority filed for bankruptcy last month, the Broncos began hearing from other companies that wanted to purchase the naming rights. And now a new candidate has emerged a company representing an industry that has never previously been involved in stadium naming rights: Marijuana.

Native Roots, a legal marijuana dispensary with 14 stores in Colorado, says it has the money to take over the $6 million a year Sports Authority is currently paying, and the interest to make a competitive bid to rename the Broncos’ home Native Roots Field at Mile High.

“We’re a cannabis company and no one had ever done anything like this in the cannabis sector,” said Rhett Jordan, a founding partner of the company, in an interview with Channel 7 News in Denver.

Sports Authority could still keep the naming rights if it is able to come up with a suitable bankruptcy plan, so it’s possible that the Broncos won’t be looking for a new sponsor. It’s also possible that if they do re-open the bidding, some other company could out-bid Native Roots. And it’s possible that the NFL and the Broncos will simply decide that they’re not ready to do business with a marijuana company, even if it’s perfectly legal in Colorado.

All of which means it’s unlikely the team will actually play at Native Roots Field. But it’s an interesting idea, one that is already getting plenty of attention for Native Roots.

http://profootballtalk.nbcsports.com/2016/04/02/marijuana-dispensary-wants-mile-high-naming-rights/

[Valar Morghulis]

Love it!!!

[BigDaddyBronco]

Mile High Stadium supplied by Native Roots.

[Poet]

I think Dreadnought and BroncoJoe would have a stroke.

[Poet]

So that Bengals fan King that posts on here is named after.....Krogers??? The grocery store???

Bwaaahahahaha

No, I'm not, nor ever was I.

[Davii]

I'm willing to bet the NFL wouldn't allow this to happen

[OrangeHoof]

Illegal Pete's Field at Mile High?

[LTC Pain]

MMJ at Mile High Stadium

[FanInAZ]

I'm willing to bet the NFL wouldn't allow this to happen

I'm betting the Broncos will say, "thanks, but no thanks."

[The Glue Factory]

Mary Jane Field at Mile High? Free advertising for Mary Jane ski area as well! :D

[Dzone]

Would be way better if they changed the name of the stadium to Dick's Stadium

[NightTrainLayne]

Sounds like you shouldn't **** with the name "Mile High", your business will be doomed to failure.

I think I've begun to see a strong correlation between companies who pay tens of millions to have their names on stadiums and companies who make a bunch of bad business decisions and go bankrupt. Weird.

[NightTrainLayne]

I'm willing to bet the NFL wouldn't allow this to happen

I also doubt the Broncos or Denver would approve it.

[MOtorboat]

Let's go all in:

Von Miller Grass at Native Roots Field at Mile High

[Valar Morghulis]

No different to coors field in my opinion

[BroncoJoe]

Sports Authority gives up hope of survival, will go to auction

http://www.denverpost.com/business/ci_29815870/sports-authority-abandons-hope-reorganizing-exiting-bankruptcy


Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain, company lawyer Robert Klyman told a judge Tuesday.

"It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," Klyman told Judge Mary Walrath at a hearing in the U.S. Bankruptcy Court in Wilmington, Del.

[dogfish]

Dank Buds Field at High as Shit Stadium. . .

[BroncoJoe]

There's a lot of large companies with their HQ here.

https://en.wikipedia.org/wiki/List_of_Colorado_companies

[GEM]

This was inevitable ...



http://profootballtalk.nbcsports.com/2016/04/02/marijuana-dispensary-wants-mile-high-naming-rights/

That started off on a site called I'm From Denver as an April Fool's joke.

[GEM]

Funny story about pot smoking and Mile High. We went to a game right after it became legal in CO, my dad and I were on the exterior concourse overlooking Federal Blvd. My dad was smoking a cigarette and this younger guy comes over to where we are standing. He says to us, "do you mind if I self-medicate myself?" We looked at each other like wtf is this guy going to do, shoot some heroin, not even tying it into smoking pot. We look at him, he pulls out a joint and my dad laughs and says, "why didn't you just ask if we minded if you lit up a doobie?" :laugh: My dad proceeded to smoke a doobie with the fella.