Sports Authority has filed a motion in bankruptcy court attempting to get out of nine sponsorship agreements with professional sports teams, including the Colorado Rockies, Denver Broncos, LA Galaxy, Los Angeles Dodgers, Milwaukee Brewers, Minnesota Vikings, New York Giants, New York Jets and the Philadelphia Eagles.
The deals enabled Sport Authority to advertise on the back of game tickets, on rotational signage in stadiums, logo rights and mascot appearances at its stores.
Rejecting the contracts will help Sports Authority reduce administrative expenses as it winds down operations, according to a motion filed by the company lawyers in bankruptcy court.
The list of sponsorships requested to be abandoned does not include the naming rights to the Denver Broncos home stadium, Sports Authority Field, according to the Denver Post. The team has tried to block the sale or transfer of the naming rights, claiming the retailer already missed two payments this year and has no right to do so.
Objections to the proposed contract rejections are due June 17, with a hearing scheduled for June 28, according to court documents. Sports Authority’s trademarks, intellectual property, some store leases and other contracts are expected to be auctioned June 23.
