Comment on Why the NFL Draft Drives Economists Crazy

Coors Field opened in 1995 and is the third-oldest ballpark in the National League behind Chicago’s Wrigley Field (1914) and Los Angeles’ Dodger Stadium (1962). The $tadium Game Part I: Amid another nationwide stadium boom, will Broncos build new home to land what Rockies have and what Nuggets, Avs are getting? Part II: Is Coors Field the model for publicly financed stadium success?

When 75,000 people descend from all points of the Front Range and beyond for Denver’s regular-season finale against Kansas City on Sunday, they will congregate in the only spot professional football in Colorado has ever known. The building’s changed, but the Broncos have played at the same dot on the map since joining the AFL in 1960. The question of whether the Broncos remain at Mile High beyond the next few years remains an open one.

For nearly a century, Colorado’s Monfort family has cashed in on the right idea at the right time and place. So it is with Coors Field, a publicly funded stadium that became a gold mine for one of the state’s most famous families. The $tadium Game Part I: Amid another nationwide stadium boom, will Broncos build new home to land what Rockies have and what Nuggets, Avs are getting? Part II: Is Coors Field the model for publicly financed stadium success?

The Colorado Rockies have had 23 losing seasons since they arrived in Denver in the summer of 1993. The Nuggets have had 12, the Broncos 11, and the Avalanche five. But from a business perspective, Denver’s Major League Baseball franchise has something the Broncos, Nuggets and Avalanche all envy — a destination stadium with an adjoining neighborhood that acts as another money stream. The $tadium Game Part I: Amid another nationwide stadium boom, will Broncos build new home to land what Rockies have and what Nuggets, Avs are getting? Part II: Is Coors Field the model for publicly financed stadium success?

Dave Keefe, the owner of The Original Brooklyn’s just south of Empower Field, has witnessed the evolution of the neighborhoods around the Broncos’ stadiums over the 41 years he’s operated his restaurant at the corner of Old West Colfax Avenue and Morrison Road. Like many, he’s unsure what the area’s future holds, now that the Broncos are exploring building a new stadium elsewhere. But there is one thing he’s positive of should Empower Field cease to be the Broncos’ home: Sun Valley will be OK. “If they leave, this is going to be the biggest empty hunk of land in the central part of Denver that’s undeveloped,” Keefe said as he pointed toward the stadium and its lots packed with tailgaters.

When Stan Kroenke entered himself into a messy, drawn-out bidding war for ownership of the Nuggets and Avalanche, the vacant land next to Pepsi Center might’ve seemed like the least attractive portion of the potential winnings. The arena itself was brand-new. The star-studded Avs had christened it on Oct. 13, 1999, with a 2-1 win over the Bruins.