In a significant move that will shape the future of Denver's sports and urban landscape, Mayor Mike Johnston, Kroenke Sports and Entertainment (KSE), and Denver City Council announced a new agreement that will see KSE's sports teams, including the Nuggets and the Avalanche, remain in Denver through 2050. The agreement, celebrated for its potential to generate economic growth and foster a sense of community, involves a promising redevelopment around Ball Arena. This plan not only brings a promise of athletic prowess but also envisions a lively neighborhood teeming with residential, commercial, and community offerings.
"When you think of Denver, you think of the Nuggets, the Avalanche, and the passionate community around our sports teams," Mayor Johnston said, as per the City and County of Denver, emphasizing the cultural importance of these teams to the city. Meanwhile, the commitment is expected to bolster the local economy significantly, with Ball Arena and the sports franchises bringing in hundreds of millions of dollars annually, drawing both locals and visitors who contribute to the economic vitality of Denver businesses.
E. Stanley Kroenke, Owner and Chairman of KSE, expressed appreciation for the city's trust, according to the City and County of Denver. "On behalf of me, Josh, and my family, and all of us at Kroenke Sports & Entertainment, we look forward to working with the community to help shape the future of this magnificent city for years to come," Kroenke stated. Notably, the agreement does not require investing city dollars into sports facility improvements, setting it apart from similar sports franchise deals across the country.
The Ball Arena Development Agreement includes investments in new housing, park space, thousands of new jobs, community benefits, and a boost to economic growth and development. "This investment goes beyond sports, it's about creating a hub for families and community, and providing opportunities for small businesses," District 3 Councilwoman Jamie Torres said, as per City and County of Denver, hailing the project's inclusive vision. A Community Benefits Agreement will further ensure that more than 1,000 new affordable housing units will be created, alongside a childcare facility, a $16 million community impact fund, and improvements to local infrastructure focusing on safety and accessibility.
