The Denver Broncos have been making bold steps under the ownership of the Walton-Penner group. Now the most expensive franchise in the league, it is getting some wind beneath its wings as it plans to move out of Empower Field. The team has officially put pen to paper, kickstarting some long-due plans.

According to Spencer Soicher of 9News Denver, the Broncos have finalized the purchase of Burnham Yard, the Broncos’ preferred site for a new stadium. Located south of downtown Denver, the franchise will use this space to construct its new domed stadium. The land was bought for $45.8 million, and plans to be up and running by the 2031 season.

The official website of the new stadium claims that the reason behind this move was that Empower Field is aging. Built in 2001, the stadium is now 25 years old, and will be on the brink of 30 when the existing lease runs out (2030). CEO Greg Penner admitted in the team owners’ meeting last year that there was no solid plan at that time, and he could even choose to stay at EverBank. But the top brass eventually chose to seek a new home.

The Broncos ran fan surveys in 2023 regarding the idea of moving to a new stadium. One survey presented them with questions like what kind of roof they’d want, personal and premium seat options, what distance they’d want this new stadium to be, and many more. CEO Greg Penner said in the NFL team owner meeting last year that they are approaching this move with a long-term perspective.

“We want to create what’s the best option for the next 40 or 50 years, not 10 or 20 years,” he told the press.

Briefly, the Walton-Penner group was reportedly looking at a site in Lone Tree, Aurora. But the owners finalized Burnham Yard as their preferred site in September 2025. It is less than a mile away from the Broncos’ current home, and used to be a rail yard.

The project is described as a “stadium-anchored mixed-use community,” which would also open up opportunities for leisure hubs like restaurants, bars, other, and hoteliers.

“The stadium is going to have all the modern amenities and bells and whistles, and then around it, we have a real opportunity in that area to create an incredible mixed-use district,” Greg Penner told Forbes. “That’ll be a real appeal, we think for the community and our fans.”

However, there’s more to be done. 9News reported that the Broncos still need to sign agreements for the surrounding land, which is owned by Denver Water. The franchise is considering the entire project to span 150 acres, per the Denver Business Journal. Work on the stadium is expected to begin in 2027, and it is going to be privately funded by the Walton-Penner group.

The vision of the new stadium is not for it to be just a playing home for the Denver Broncos. It is aimed at being an economic engine even during the offseason.

What could the new Denver Broncos stadium look like?

According to the stadium’s website,  it will have a retractable roof and a natural grass playing surface. The latter would fall in line with the heaps of demands from players for a natural turf, while the roof would keep everybody warm in the cold winters. While the Denver sunset is a must-watch, it gets very chilly very soon after the sun goes past the horizon. The roof was considered the preferred choice by fans in a survey conducted by the team.

The franchise has hired design firm Sasaki, which is in the initial stages of building the master plan for the new stadium. More is awaited on what fans can expect from this venue, but there’s reason to be excited.

Ever since the Walton-Penner group bought the Denver Broncos, things have been looking up for them. They are now one of the better teams in the league, having the sixth-best odds to win the Super Bowl this season (per Kalshi). Perhaps when they debut in their new, flashy home, with another title in their haul.