Denver Broncos' Mile High Stadium finally gets a sponsor

Downtown Denver Skyline and stadium for the Denver Broncos

The Denver Broncos' stadium, for the next 21 years, will be called "Empower Field at Mile High," making Empower the Broncos' third sponsor in less than 20 years.

Empower Retirement, which is based in Colorado, signed the agreement late Tuesday. The amount it paid for the naming rights was not immediately available.

The name change should be in place in time for the Broncos' home game against the Chicago Bears on Sept. 15, as long as all the I's are dotted and the T's are crossed, including the City of Denver approving the signage change since the Broncos lease the stadium from the taxpayers.

Mile High had been searching for a new sponsor since 2016 after its then-sponsor, Sports Authority, filed for bankruptcy. After then, the temporary moniker of "Broncos Stadium at Mile High" was used during the 2018 season.

The stadium opened in 2001 and replaced the old Mile High Stadium. Back then, it was called Invesco Field at Mile High. Sports Authority took over the naming rights in 2011 until its bankruptcy.

Records show Sports Authority paid an average of around $6 million a year to stay the sponsor of the stadium. When Sports Authority folded, the Broncos had to foot that bill in the meantime.

Empower Retirement tweeted their excitement at the partnership: "Looking forward to our expanded partnership with the @Broncos, which includes working together on many community engagement opportunities, as well as naming rights to the newly-branded stadium, #EmpowerField at Mile High."

Empower Retirement is the second-largest retirement plan provider in the country, administering more than $635 billion in investments for its 9.2 million participants.