Denver bets $70M on women's pro soccer stadium site
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A rendering of the stadium for the Denver NWSL team. Photo: Courtesy of Denver NWSL
Denver city leaders approved a $70 million plan Monday to buy and prep land for a women's professional soccer stadium site, a high-stakes bet celebrated as visionary and criticized as risky.
Why it matters: Supporters, including Mayor Mike Johnston, call the mega-project a "transformational opportunity" that could generate billions in economic activity and make Denver one of the world's only cities with a stadium built specifically for women's sports.
- A preliminary city study projects a $2.2 billion economic impact over 30 years and the creation of 1,100 jobs.
Yes, but: Critics say that while stadium deals often promise big returns, they can fall short and shift the cost burden to taxpayers.
The latest: City Council approved a deal to acquire a 40-acre site at I-25 and Santa Fe Drive — the home of the former Gates Rubber Factory, which has been a development dead zone for decades due to environmental issues and rail-line complications.
- The city will spend $50 million to buy the land and $20 million on infrastructure upgrades like roads, bridges and parks. Most of that funding will come from Denver's capital budget.
- The city will retain ownership of the land, meaning it could be repurposed if the team leaves.
The other side: Several council members raised red flags about the city's tight budget, economic uncertainty, and a long trail of failed promises tied to stadiums — though only one, Sarah Parady, voted no.
- An analysis published in 2022 that reviewed more than 130 studies found publicly funded stadiums rarely deliver meaningful economic benefits.
- "These are money pits," Geoffrey Propheter, a University of Colorado Denver professor who studies sports economics, told the Denver Post. "The vast majority of the burden ends up being on taxpayers."
Catch up quick: The vote comes after Denver was announced as home to the 16th National Women's Soccer League club in January. In March, the team unveiled plans for a 14,500-seat, soccer-specific stadium and surrounding entertainment district.
- Team owner and operator Rob Cohen said ownership will commit about $300 million, including up to $200 million for the stadium alone.
- The team — still unnamed — is expected to begin play in 2026. The stadium is projected to open in 2028, per a statement.
What's next: Following Monday's agreement, the team will begin design work and community outreach.
- A detailed development plan is expected in November alongside a City Council vote to rezone the property.
Caveat: Monday's agreement does not obligate the city to fund the project, per the City Attorney's Office. Funds won't be released until after the public process, rezoning vote, and a separate budget appropriation.