DENVER - The Denver Broncos have the U.S. Bankruptcy Court’s permission to ax their sponsorship contract with the bankrupt Sports Authority.
Judge Mary F. Walrath on Friday granted the Super Bowl champion's May 27 motion to terminate their Aug. 1, 2011, sponsorship agreement with Englewood-based Sports Authority. Sports Authority also sought to exit the contract.
Patrick Smyth, a Broncos spokesman, declined to comment.
Under the agreement, the exclusive “retail sporting goods” sponsor of the Broncos was granted a non-exclusive license to use the team’s trademarked logo in places such as websites, advertising and in-store signs; advertisements and signs. The deal also gave the retailer hospitality benefits such as box seats and Super Bowl tickets.
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