The Denver Gazette Sports Business Insider is a readers’ guide to understanding the influence of money, politics and power behind their favorite leagues, teams and players.

Sports Business Insider: The Broncos are making deals to secure the site of their next stadium.

Short version: The team reached a sale agreement with the Colorado Department of Transportation to purchase roughly 58 acres of land for $45.8 million at Burnham Yard, as first reported by The Denver Business Journal.

Long version: The Broncos released a joint letter with city officials in September that outlined Burnham Yard as the preferred site for a stadium and mixed-used entertainment district.

The team also reached a “conceptual agreement” to purchase the historic property — located south of Colfax Avenue and east of Interstate 25 — from the Colorado Transportation Investment Office (owned by CDOT). Last week, its board approved a purchase price of $45.8 million that covers the remaining principal on CTIO’s loan buying the land in 2021 from the Union Pacific Railroad.

The sale is expected to be final in May.

“We are thrilled with the sale agreement with the Denver Broncos, where the Broncos have agreed to pay off our loan in its entirety. This arrangement minimizes risk to the state and unlocks billions of dollars in private investment in this long-blighted underutilized property,” CDOT spokesperson Matt Inzeo told The Denver Gazette. “Separately, the state has made a modest investment in preserving public rights-of-way for future transit, removing a redundant freight line and eliminating three dangerous at-grade crossings in our urban core. These important investments in public infrastructure improvements were needed regardless of the final use of the property and will enhance its use.”

Key context: The Broncos are still calling Burnham Yard their “preferred site” and will not finalize a decision until the completion of many planning tasks. The land purchase from CDOT is one piece of a larger puzzle to build a new stadium and entertainment district.

The Broncos must also secure multiple private land deals, including the relocation of Denver Water facilities, and create a community benefits agreement. A retractable-roof stadium is still in the design process.

“Burnham Yard remains the preferred site, and we’re continuing to work closely with community members and partners to advance the process in a thoughtful and collaborative way,” Broncos spokesperson Patrick Smyth told The Denver Gazette.

What’s next: Stadium construction is expected to begin in 2027 or 2028 if the Broncos move forward with their plans at Burnham Yard. The stadium is planned to open in 2031. The team set up a website at https://newstadium.denverbroncos.com/ with more information.