News
Broncos ‘Private’ Stadium Plan: How Tax Breaks and Infrastructure Can Still Cost the Public Millions
Broncos ‘Private’ Stadium Plan: In September 2025, the Denver Broncos announced plans for a new privately financed stadium. However, scrutiny arises as public funds often subsidize these projects, obscuring true financing sources. This raises concerns about the long-term financial impact on taxpayers, who may shoulder broader costs beyond construction, including infrastructure and social ramifications.
Geoffrey Propheter, University of Colorado Denver
Broncos say their new stadium will be ‘privately financed,’ but ‘private’ often still means hundreds of millions in public resources
The Denver Broncos announced in early September 2025 their plan to build a privately financed football stadium. The proposal received a lot of attention and praise.
Across the five major sports leagues in the U.S. – the NBA, NHL, NFL, MLB and MLS – only 20% of facilities are privately owned.
I’ve studied the intersection of state and local public finance and pro sports for two decades. This experience has led me to approach claims of private financing with suspicion.
Private dollars are often masked as public dollars in these arrangements. https://www.youtube.com/embed/zwv34Lpo0ec?wmode=transparent&start=0 A Fox31 Denver news report aired in November 2025 about the Broncos’ plans for a new stadium.
Private vs public dollars
In theory, what counts as private or public dollars is uncontroversial. Dollars are public when government has a legal claim over them – otherwise, they are private.
The public versus private dollar distinction matters when accounting for who is contributing how much to a sports facility. When public dollars are allowed to count as private dollars, a project proposal looks more enticing than it is, in fact.
For instance, lawmakers regularly allow team owners to count public dollars as private dollars. The Sacramento City Council agreed to let the NBA’s Sacramento Kings count their property tax payments for the city-owned arena as private contributions to the overall cost of financing the arena. But property taxes are public dollars that in other instances go toward public services like schools and road repairs.
Team owners building private facilities also typically receive public dollars through tax breaks, which is government spending in disguise. Property tax exemptions, sales and use tax exemptions on materials and machinery, and income tax credits are common forms of government givebacks to sports team owners.
I’ve estimated that property tax exemptions alone, among facilities in the five major leagues, have cost state and local governments US$20 billion cumulatively over the life of teams’ leases, 42% of which would have gone to K-12 education.
Rental payments spent on facilities are not private dollars
Many facilities and their infrastructure are funded through public debt secured in part by team rental payments. Lawmakers, media and consultants often view projects secured by rents as privately financed, in part or whole.
However, rental income in exchange for use or operation of public property should not be counted as private dollars.
Here’s a thought experiment. Suppose state lawmakers allocated the rent paid for use of campground sites in a state park to pay for new campground bathrooms. Are the bathrooms privately funded?
The flaw in concluding “yes” arises from a failure to appreciate that lawmakers, through policy, create legal claims over certain dollars. All dollars start as private dollars, but through the tax system, lawmakers transfer ownership of some dollars to the public.
It is the government landlord’s choice, a policy decision, to spend the rental income on the rented property, a choice available to them only if they own the rental income in the first place.
Yet lawmakers regularly allow teams, both professional and minor league, to count rental payments as private contributions. This accounting makes sports subsidies look less generous than they actually are.
Looking beyond construction
Facilities not only need to be constructed but also operated, maintained and eventually upgraded. Roads, sewer lines, overpasses, game-day security and emergency response and public policies to mitigate gentrification caused by a facility are all common taxpayer-funded touchpoints. In addition, facilities have preconstruction costs such as land acquisition, soil remediation and site preparation, as well as later costs such as demolition and remediation for the land’s next use.
Focusing on privately financed construction and ignoring all other aspects of a project’s development and operation is misleading, potentially contributing to lawmakers making inefficient and expensive policy decisions.
By way of example, the Council of the District of Columbia approved a subsidy agreement last year with the NFL’s Commanders. The stadium would be financed, constructed and operated by the team owner, who would pay $1 in rent per year and remit no property taxes. In exchange for financing the stadium privately, the owner receives exclusive development rights to 20 acres of land adjacent to the stadium for the next 90 years.
The stadium is expected to cost the owner $2.5 billion, with the city contributing $1.3 billion for infrastructure.
But the city also gives up market rental income between $6 billion and $25 billion,depending on future land appreciation rates, that it could make on the 20 acres.
In other words, the rent discount alone means the city gives up revenue equal to multiple stadiums in exchange for the Commanders providing one. It is as if the council has a Lamborghini, traded it straight up for a Honda Civic, and then praised themselves for their negotiation acumen that resulted in a “free” Civic.
The Broncos’ proposed stadium
As of January 2026, Denver taxpayers know only that the Broncos stadium construction will be privately financed and that public dollars will be spent on some infrastructure.
Being enamored with such a proposal is similar to being offered a $1 billion yacht at a 75% discount. In my experience, there are two types of public officials: one will want to spend $250 million to save $750 million, while the other will ask whether $250 million for a yacht is an appropriate use of taxpayer resources given existing needs elsewhere.
My hope is that lawmakers better appreciate the many ways government participation in sports facility development, including privately financed ones, imposes serious risks and costs for current and future taxpayers. What is the expected total cost of the stadium project over its life? How much of the life cost would public resources cover? Could public resources generate greater benefits in an alternative use? How much will it cost to mitigate or compensate those affected by a project’s expected negative side effects, such as gentrification, congestion, pollution and crime?
Read more of our stories about Colorado.
Geoffrey Propheter, Associate Professor, School of Public Affairs, University of Colorado Denver
This article is republished from The Conversation under a Creative Commons license. Read the original article.
The Long Track Back
LA Metro Approves $71 Million Bus Engine Program and Advances Antelope Valley Line Safety Work
LA Metro will replace engines in as many as 680 natural-gas buses while advancing safety improvements at two Antelope Valley Line crossings in Sylmar.
Two newly confirmed Board actions will keep hundreds of Metro buses in service while moving two Sylmar rail crossings toward construction.
LOS ANGELES — October 28, 2026 — The Los Angeles County Metropolitan Transportation Authority has approved two major investments affecting bus reliability and regional rail safety: a nearly $71 million engine-replacement program for as many as 680 buses and a $27.6 million construction budget for two Antelope Valley Line crossings in Sylmar.
The Metro Board approved both actions on October 22.
Hundreds of natural-gas buses will receive new engines
Metro awarded Cummins Sales and Service a five-year, single-source contract worth up to $70.99 million for 680 near-zero-emission natural-gas engines. The engines will be installed in El Dorado National 40-foot buses and New Flyer 60-foot articulated buses during fiscal years 2027 through 2031.
The engines will operate on renewable compressed natural gas and replace older engines as part of Metro’s midlife bus-refurbishment program. Metro mechanics will perform the installations.
According to the Board report, replacing high-mileage engines should reduce engine-related road calls and improve the reliability of buses that remain in daily service. Metro estimates that the replacements will reduce nitrogen-oxide emissions by 90 percent and greenhouse-gas emissions by 9 percent compared with the engines being removed.
The decision also provides more context for Metro’s transition to electric buses. In September, the agency approved the purchase of 220 battery-electric buses, with deliveries expected to begin in 2028. The new Cummins contract shows that Metro will continue investing in its existing natural-gas fleet while electric buses and the charging infrastructure needed to support them are introduced.
Metro has not changed its zero-emission goal through this action. The engine replacements are intended to keep current buses dependable during the transition and do not obligate the agency to order all 680 engines.
Two Sylmar rail crossings move toward construction
In a separate action, the Board established a $27.62 million life-of-project budget for improvements at the Astoria Street pedestrian crossing and the Polk Street roadway crossing along the Metrolink Antelope Valley Line.
The crossings are part of Segment 4 of Metro’s Brighton-to-Roxford Double Track Project. Although the broader project remains in different stages of design, the Astoria and Polk plans are sufficiently advanced to proceed as separate construction packages.
Planned improvements include coordinated traffic signals, pedestrian gates and additional roadway gates. Polk Street will receive a four-quadrant gate system intended to make it harder for motorists to enter or drive around the crossing when a train approaches. Both locations will also be prepared for possible future quiet-zone operations.
The work supports Metro’s larger effort to improve safety, reliability and capacity on the Antelope Valley Line. Advancing the two crossings now also protects state Transit and Intercity Rail Capital Program funding that must be spent and submitted for reimbursement by June 30, 2027.
Metro will conduct community outreach and execute the construction contracts following the Board’s approval. A specific construction-start date has not yet been announced.
Primary sources
● Metro Board Report 2026-0644: Near-Zero Natural Gas-Fueled Engines
● Metro Board Report 2026-0640: Astoria and Polk Crossing Improvements
This story is part of The Long Track Back, STM Daily News’ continuing coverage of Los Angeles transit projects, service and regional mobility.
Slate Auto and Smarties Launch Colorful EV Starter Packs
Slate Auto has partnered with Smarties Candy Company on six pastel customization packages for its upcoming electric truck. Announced October 27, the Smarties x Slate collection gives buyers another way to personalize the minimalist EV before deliveries begin.
The six Starter Packs are inspired by Smarties flavors: Blue Raspberry, Cherry, Grape, Pineapple, Orange and Strawberry. Each package includes a coordinating vehicle wrap, color-matched mirror decals, a Smarties-branded rocker decal, a logo decal, a customized key-fob end cap and a matching interior Slatelet.
Customers will be able to purchase the packages through the Slate Marketplace as their delivery dates approach. Pricing for the Smarties packages was not included in the announcement.
The collaboration fits Slate’s strategy of selling one simplified vehicle platform that owners can customize over time. Every truck leaves the Warsaw, Indiana, factory with gray exterior panels designed to be wrapped instead of conventionally painted. Buyers can keep the two-seat pickup configuration or select one of Slate’s five-seat SUV conversions.
The partnership does not change the truck’s core price or specifications. Slate continues to list the Blank Slate pickup at $24,950 before its $1,450 destination charge, with an estimated 205 miles of range. The range figure is still a company projection rather than a final EPA rating, and Slate continues to say its first deliveries are expected in the fourth quarter of 2026.
For Slate, the Smarties collection is more than a seasonal promotion. It demonstrates how branded wraps and accessories could become an important part of the company’s business model while allowing buyers to change the appearance of their vehicles without purchasing a different truck.
Source: Slate Auto’s official Smarties collaboration announcement
Entertainment
Patrick Stewart, Beloved Star of Star Trek and X-Men, Dies at 86
Sir Patrick Stewart, beloved for his performances as Captain Jean-Luc Picard and Professor Charles Xavier, has died at 86, leaving a lasting legacy across television, film and theater.
Entertainment News Brief
Sir Patrick Stewart, the acclaimed actor best known as Captain Jean-Luc Picard in Star Trek and Professor Charles Xavier in the X-Men films, has died at 86.
Stewart died October 28 at his home in Los Angeles, according to a statement from his spokesperson reported by Reuters. The announcement said he had been living with Alzheimer’s disease and Lewy body dementia and was with his wife, Sunny Ozell.
Stewart brought a commanding presence and a thoughtful approach to leadership to Star Trek: The Next Generation, which aired from 1987 to 1994. He later continued Picard’s story in feature films and returned for Star Trek: Picard.
His career also encompassed Shakespearean theater, including work with the Royal Shakespeare Company. He was knighted in 2010 for his contributions to drama.
For generations of viewers, Stewart helped make science fiction a place to explore questions of responsibility, compassion and humanity.
Sources
● Reuters: Patrick Stewart, Shakespearean actor turned Star Trek and X-Men star, dies at 86
● ABC News: Patrick Stewart dies at 86
